Sotera Health Co.
04/04/2025 | Press release | Distributed by Public on 04/04/2025 05:32
Regulation FD Disclosure (Form 8-K)
Item 7.01. Regulation FD Disclosure.
On April 3, 2025, Sterigenics U.S., LLC ("Sterigenics"), a subsidiary of Sotera Health Company, entered into a binding term sheet to resolve 97 ethylene oxide ("EO") claims against Sterigenics relating to its former facility in Willowbrook, Illinois. The settlement includes seven claims that were set for trials in the Circuit Court of Cook County in April and June and the remaining EO claims being pursued by the same plaintiffs' counsel, including those of 61 claimants with pending lawsuits and 29 claimants who asserted claims but had yet to file new lawsuits.
Pursuant to the term sheet, Sterigenics will pay $30,943,000 and the settling plaintiffs' claims will be dismissed with prejudice. The settlement process is expected to require 60 - 90 days.
The settlement is subject to the satisfaction of several conditions, including participation by 100 percent of the claimants, stays of the trials that were scheduled to begin in April and June and a determination by the Circuit Court of Cook County that the settlement was entered in good faith under the Illinois Contribution Among Joint Tortfeasors Act. Sterigenics has the right to waive the 100 percent participation requirement, in which case the settlement would be binding on only those plaintiffs participating in the settlement.
Sterigenics denies any liability and the term sheet explicitly provides that the settlement is not to be presented or construed as an admission of any liability or that emissions from the Willowbrook facility posed any safety hazards to the surrounding communities.
For more information about the term sheet, please see Latest Updates in the EO section of our Investor Relations website at https://investors.soterahealth.com/latest-updates. For more information about EO related lawsuits, please see our most recent Annual Report on Form 10-K and our website at www.soterahealth.com.
The information in this Item 7.01 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liability under that section, and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly incorporated by specific reference in such filing.