Acquisition
Summary by AI BETAClose X
Halma plc ('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies focused on growing a safer, cleaner, healthier future for everyone, every day, today announces that it has acquired Surgistar, Inc. (Surgistar) as a bolt-on for its Healthcare Sector company, MicroSurgical Technology, Inc. (MST).
Founded over 20 years ago and based in California, Surgistar designs and manufactures ophthalmic surgical instruments and devices. Its product portfolio includes blades, cannulas and trephines, which are manufactured using highly automated processes that help ensure consistent quality and sharpness.
The cash consideration for Surgistar is $90m (approximately £67m), on a cash- and debt-free basis, to be funded from Halma's existing facilities.
Marc Ronchetti, Group Chief Executive of Halma, commented: "Surgistar's differentiated product range is highly complementary to MST's and further strengthens Halma's ophthalmic product offering. The acquisition enhances MST's manufacturing capabilities and supports its long-term growth through MST's existing direct and global channels. We are excited to see our existing companies expand their capabilities through bolt-on acquisitions and delighted to welcome Surgistar to Halma."
For further information, please contact:
Halma plc
Marc Ronchetti, Group Chief Executive +44 (0)1494 721 111
Carole Cran, Chief Financial Officer +44 (0)1494 721 111
Melanie Horton, Co-Head of Investor Relations +44 (0) 7554 013 396
Charles King, Co-Head of Investor Relations +44 (0) 7776 685 948
MHP
Oliver Hughes / Rachel Farrington / Ollie Hoare +44 (0)7817 458 804 / halma@mhpgroup.com
A copy of this announcement, together with other information about Halma, may be viewed on our website www.halma.com.
About Halma
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad market areas where it operates:
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· Safety |
Protecting the safety of people and assets as populations grow and the demand on infrastructure increases. |
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· Environment |
Addressing the impacts of climate change, pollution and waste, protecting life-critical resources and supporting scientific research. |
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· Healthcare
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Meeting the increasing demand for better healthcare as chronic illness rises, driven by growing and ageing populations and lifestyle changes.
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Halma employs over 9,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.
Halma has been named as one of Britain's Most Admired Companies for the past seven years.
For more information www.halma.com.
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