Ok, here are some answers from the horses's mouths:
Doug Schoon says:
"Of course the answer is no, unless all those hospitals are just being silly to spend thousands on an autoclave when all they had to do was use baby sterilizers. They dont use baby sterilizers because they are nothing like autoclaves and do not perform to the same standards. Many so called baby sterilizers dont sterilize at all, they just pretend to by suggesting it.
You don't sterilize or disinfect your dishes, not even a dishwasher does that. I don't haven't looked at your baby sterilizer, but sterilization requires exposure to pressurized steam. That's why autoclaves cost so much. I wouldn't put much faith in a baby bottle sterilizer, but why would you want sterilize baby bottles? Whats the big risk with used properly clean bottles? That should be enough. but I'm not a baby bottle expert."
And from Dr. Robert Spalding:
"Doug is correct...there has to be significant pressure for the steam to penetrate the bacterial wall and spore coats to be effective for a certain time. Steam baby bottle disinfectors are not sterilizers in the sense of the word ' sterilize" but only offer a mild "disinfectant" capacity an reduce reduce bacterial counts ..not sterilize"