STE - Steris: Moving On Losing Its Teeth
2024-04-14 05:56:05 ET
Summary
- Steris announces the sale of its dental segment for $787 million, with potential for the sales price to reach $800 million.
- The divestment will have a limited impact on the overall business, but it makes strategic sense.
- Despite the divestment, Steris remains a solid organic growth performer, but a more attractive entry point is desired before getting involved.
Early in April, STERIS ( STE ) announced the sale of its dental segment, a non-core business which it acquired with the purchase of Cantel. This deal makes strategic sense, although I am not impressed with the price fetched for these assets....
Steris: Moving On, Losing Its Teeth