Sessa Capital purchased 10.63 million shares of Sotera Health in the fourth quarter for an estimated $175.80 million, according to a Securities and Exchange Commission filing dated 17 February. The stake now represents nearly 7% of Sessa Capital's reportable assets under management. Sotera Health provides sterilisation services and laboratory testing for medical device and pharmaceutical industries. The company generated $1.2 billion in revenue and $77.9 million in net income over the trailing twelve months. Despite 20 years of steady growth and adjusted EBITDA approaching $600 million, the stock has declined as investors focus on litigation risks, high leverage and regulatory concerns. The shares currently trade at $13.99, up 18% over the past year, with a market capitalisation of $4.0 billion.

Sotera Health's CFO Jon Lyons reaffirmed constant-currency organic growth guidance of 5% to 6.5% for 2026 at the KeyBanc Healthcare Forum. Sterigenics is expected to deliver mid- to high-single-digit growth, whilst Nordion and Nelson Labs will see lower-single-digit growth. The company closed 2025 with 5.2% organic revenue growth, maintaining over 50% EBITDA margins with a 118-basis-point improvement. Weaker Nelson Labs results were offset by stronger Sterigenics volumes of approximately 8%. Management prioritises free cash flow and capital discipline, targeting $500 million to $600 million over three years. Capital expenditure is expected to drop significantly in 2027 as projects complete. Net leverage has improved towards the 2x–3x target, providing flexibility for debt reduction, acquisitions or share buybacks.

Ananym Capital Management sold 217,684 shares of Sotera Health for an estimated $3.60 million in February 2026, according to an SEC filing. Despite the sale, Sotera Health remains a significant holding at 8.65% of Ananym's assets under management. Sotera Health shares were trading at $17.09 as of 17 February 2026, up nearly 30% over the past year and outperforming the S&P 500 by 14.86 percentage points. The company provides sterilisation services and laboratory testing for medical device, pharmaceutical and food industries. Sotera recently reported its 20th consecutive year of revenue growth, with 2025 revenues rising nearly 6% to $1.16 billion. Management has guided for another 5% to 6.5% revenue increase in 2026, with adjusted EBITDA growth of 5.5% to 7%.