Halma uses two acquisitions to increase medical capabilities
Halma Plc., a technology group best known for its hazard detection and life protection businesses, has purchased two companies involved in monitoring blood pressure. These acquisitions will bolster Halma’s growing medical segment, and are expected to be “immediately earnings enhancing”, according to the company.
The companies it’s picked up are Cardios, a supplier of products used by healthcare professionals “to diagnose and prevent heart and blood vessel related diseases like hypertension, diabetes, heart attacks, and heart arrhythmias,” and CASMED NIBP, which “includes a range of non-invasive blood pressure devices.”
Halma’s share price is up 22%, year to date
SOURCE: Yahoo Finance
Halma expects the two companies to slot in well with its current offering, and boost profitability at the company. It agreed to pay $15.75 million for Cardios, with the possibility of a further $1.57 million based on performance, and $4.5 million for CASMED, with the possibility of a further $2 million based on performance.
Halma’s CEO, Andrew Williams, said: “Cardios extends our medical sector's reach further into developing international markets such as Brazil, where demand for and access to healthcare continues to grow, while CASMED NIBP strengthens SunTech's position as the world leader in OEM (original equipment manufacturer) non-invasive blood pressure technology."
Dominion holds Halma Plc. in its Global Trends Managed Fund.
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