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Steris acquires next-door neighbor and gastrointestinal devices maker U.S. Endoscopy Group in an all-cash deal worth $270 million.

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Healthcare giant Steris (NYSE:STE) is looking to "significantly expand" its presence in the gastrointestinal devices market with the $270 million acquisition of U.S. Endoscopy Group, the company announced this week.

U.S. Endoscopy, which employs about 400 and generated about $70 million in revenue in 2011, designs, manufactures and sells devices and support accessories used in gastrointestinal and urology procedures.

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