Halma PLC Acquisition (6768D)
February 21 2020 - 1:00AM
UK Regulatory
TIDMHLMA
RNS Number : 6768D
Halma PLC
21 February 2020
Halma, the leading safety, health and environmental technology
group, today announces that it has acquired Maxtec, LLC, which is
based in Utah, USA.
Maxtec is a leader in the design, manufacture and distribution
of oxygen analysis and delivery products for use in medical and
non-medical applications. They specialise in innovative products
for respiratory care, including in oxygen sensors and analysers for
use in hospital acute care units [see notes 1 and 2]. Maxtec will
be managed as part of Halma's Perma Pure business, whose medical
dehydration products are also used in acute care units, and will
become part of Halma's Medical sector. Key members of Maxtec's
leadership team will remain with the business and it will continue
to operate in its current facility.
The cash consideration for Maxtec is US$20 million (GBP15.3
million(3) ), on a cash and debt free basis, which will be funded
from Halma's existing facilities. Maxtec's revenue and Adjusted
EBIT for the twelve months to the end of March 2019 were US$20.4
million (GBP15.7 million) and US$1.8 million (GBP1.4 million),
respectively.
Andrew Williams, Group Chief Executive at Halma, commented:
"Maxtec is highly aligned with our purpose, and further extends
our presence in diagnostic products and acute healthcare. It brings
technology and a market presence that will accelerate Perma Pure's
growth in medical moisture management products and adds a new niche
in oxygen analysis and delivery products, where growth is being
driven by ageing populations and the increasing prevalence of heart
and respiratory conditions. I am delighted to welcome Maxtec to the
Halma group of companies and look forward to supporting its future
development."
For further information, please
contact:
Halma plc
Andrew Williams, Group Chief Switchboard: +44 (0)1494 721111
Executive
Marc Ronchetti, Chief Financial
Officer
Charles King, Head of Investor Mobile: +44 (0)7776 685948
Relations
MHP Communications
Rachel Hirst/ Andrew Jaques +44 (0)20 3128 8771
About Halma
Halma is a global group of life-saving technology companies,
focused on creating a safer, cleaner and healthier future for
people worldwide. Our innovative products and solutions address
many of the key issues facing the world today. We operate in four
sectors: Process Safety, Infrastructure Safety, Environmental &
Analysis and Medical. We employ over 6,000 people in 20 countries,
with major operations in Europe, the USA and Asia-Pacific. We
target global niche markets where sustainable growth and high
returns are supported by long-term drivers. Halma is listed on the
London Stock Exchange and is a member of the FTSE 100 index.
Notes
1. The global market for anaesthesia and respiratory devices is
estimated to grow from approximately US$21 billion in 2017 to
approximately US$27 billion by 2022, representing a compound annual
growth rate of approximately 5% for the period of 2017-2022.
Anaesthesia equipment, in which Maxtec's sensors are used,
represents approximately US$1.1 billion of this market and is
growing at approximately 6%, while ventilators and oxygen
concentrators represent US$1 billion and US$600 million
respectively of the overall anaesthesia and respiratory devices
market.
2. Maxtec is a leading company in oxygen analysis and delivery
products, providing a full line of replacement oxygen sensors and
SpO2 (peripheral capillary oxygen saturation) probes which help to
measure oxygen delivery in critical healthcare settings such as
hospital acute care units. Its products also include pulse
oximeters, neonatal products and air-oxygen mixers, applicable to
hospital, homecare and anaesthesia markets.
3. US Dollar (US$) values are translated throughout this
announcement at a rate of US$1.30: GBP1.
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. For more information on Halma's Growth Enablers visit:
https://www.halma.com/how-we-grow#page-intro-2 . For more
information on Perma Pure visit:
https://www.halma.com/our-companies/perma-pure-llc .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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