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Investing.com -- STERIS Corp (NYSE:STE). has secured a $450 million contract modification from the U.S. Department of Defense (DoD), extending an existing agreement for patient monitoring and capital equipment.
The Ohio-based company received the five-year option period extension on its previous five-year base contract, according to a DoD announcement. The fixed-price contract includes economic-price-adjustment provisions and is structured as an indefinite-delivery/indefinite-quantity agreement.
The contract will serve multiple military branches including the Army, Navy, Air Force, and Marine Corps, as well as federal civilian agencies. The ordering period for this extension will continue through June 22, 2030.
Funding for the contract will come from defense working capital funds spanning fiscal years 2025 through 2030. The Defense Logistics Agency Troop Support in Philadelphia, Pennsylvania is managing the contracting activity.
STERIS, headquartered in Mentor, Ohio, specializes in sterilization and surgical equipment for healthcare facilities.
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