Halma PLC Acquisition (2200N)
August 07 2017 - 1:00AM
UK Regulatory
TIDMHLMA
RNS Number : 2200N
Halma PLC
07 August 2017
Halma plc
Halma, the leading safety, health and environmental technology
group, today announces two acquisitions within the Group's Medical
sector: Cardios, a specialist in ambulatory blood pressure
monitoring; and a range of non-invasive blood pressure devices from
CAS Medical Systems Inc.
ACQUISITION OF CARDIOS SISTEMAS COMERCIAL E INDUSTRIAL LTDA AND
CARDIO DINAMICA LTDA (together "Cardios")
Halma completed the acquisition of Cardios on 4 August 2017.
Cardios, located in São Paulo, Brazil, designs and manufactures
ambulatory ECG recorders and ambulatory blood pressure monitors to
Brazilian healthcare providers. These devices are used by
cardiologists and general practitioners to diagnose and prevent
heart and blood vessel related diseases like hypertension,
diabetes, heart attacks, and heart arrhythmias. These products are
similar or complementary to patient assessment devices currently
manufactured and marketed by Halma's Medical sector.
The initial cash consideration is R$50 million (GBP12.1 million)
and is adjustable, R$ for R$ if net assets are more or less than a
pre-determined amount (the adjustment is not expected to be
material). Further contingent consideration of up to R$5 million
(GBP1.2 million) may be payable based on performance to 4 August
2018. Unaudited accounts for the year ended 31 December 2016 report
revenue of R$25.1 million (GBP6.1 million).
The CEO and management team of Cardios will continue to operate
the business out of its current location.
ACQUISITION OF CAS MEDICAL SYSTEMS, INC'S (CASMED) NON-INVASIVE
BLOOD PRESSURE MONITORING PRODUCT LINE (CASMED NIBP)
Halma's Medical sector subsidiary, SunTech Medical Inc (SunTech)
completed the purchase of CASMED NIBP on 25 July 2017.
These new NIBP monitoring products provide SunTech with more
clinical grade options for OEM customers seeking NIBP technology
for multi-parameter monitors, EMS defibrillators, haemodialysis
machines and various other clinical monitoring devices.
The initial cash consideration for CASMED NIBP was $4.5 million
(GBP3.4 million) with up to a further $2 million (GBP1.5 million)
payable based on the achievement of certain sales criteria through
to June 2019. SunTech will also purchase related product inventory
from CASMED at the end of a short transition period.
Unaudited accounts for the year to 31 December 2016 report
revenue of $3.6 million (GBP2.7 million) from CASMED NIBP.
Both acquisitions, which are expected to be immediately earnings
enhancing, were funded from Halma's existing cash and debt
facilities.
Andrew Williams, Halma's Chief Executive, commented:
"Cardios and CASMED NIBP are great examples of how Halma can
strengthen both the geographic footprint and intellectual property
of our existing businesses through acquisition. 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 NIPD strengthens SunTech's position
as the world leader in OEM non-invasive blood pressure
technology."
For further information please contact:
Halma plc
Tel: +44 (0) 1494 721111
Andrew Williams, Chief Executive
Kevin Thompson, Finance Director
MHP Communications
Tel: +44 (0) 20 3128 8100
Rachel Hirst/Andrew Jaques
Notes
1. Halma buys successful businesses in safety, health and
environmental markets and helps them grow further through
investment targeted towards increasing innovation, management
development and international expansion. In the past 10 years Halma
has spent approximately GBP650 million acquiring nearly 30
businesses with deal sizes ranging from GBP1 million up to GBP100
million. (www.halma.com)
2. Further information on Cardios can be found on its website www.cardios.com.br.
3. Further information on the non-invasive blood pressure
monitoring product line can be found on SunTech Medical's website
www.suntechmed.com. SunTech is the world's largest supplier of OEM
advanced blood pressure monitoring products and technology for
customers and patients.
4. This statement is not intended to constitute a profit
forecast for the current financial period or for any future period.
In addition, this statement should not be taken to mean that the
earnings per share of Halma will necessarily match or exceed the
historic reported earnings per share of Halma.
5. Halma intends to issue a trading update on 27 September 2017
ahead of its half year end of 30 September 2017.
6. Brazil Real values were translated at a rate of R4.1265: GBP1.
7. US $ values were translated at a rate of $1.31: GBP1.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQPFMMTMBAMTAR
(END) Dow Jones Newswires
August 07, 2017 02:00 ET (06:00 GMT)
Halma (LSE:HLMA)
Historical Stock Chart
From Apr 2024 to May 2024
Halma (LSE:HLMA)
Historical Stock Chart
From May 2023 to May 2024