Halma PLC (LSE:HLMA) has announced the acquisition of surgical access systems manufacturer TeDan group of companies for £72 million.
The businesses comprise TeDan Surgical Innovations Inc, West Coast Surgical, Axcess Surgical Innovations and TeDan Surgical Innovations GmbH, Halma said on Monday.
This was part of a cash and debt-free deal funded from Halma’s existing facilities, the FTSE 100 firm added, which will see TeDan continue to operate as a stand-alone company.
“TeDan further extends the technologies and capabilities of our healthcare sector in the treatment of patients in acute therapeutic settings,” Halma chief executive Marc Ronchetti commented.
“TeDan's growth is supported by the growing need for surgical treatment as populations age and as lifestyles evolve and by the development of innovative new surgical procedures which improve efficiency and standards of care.”
Over the year to March, TeDan generated revenue of US$29.2 million (£24 million) and penned return on sales at the top end of Halma’s 18% to 22% target range.
Halma shares climbed 1.4% to 2,081p on the news.