Halma PLC (LSE:HLMA) has continued its purchase-led growth model with the acquisition of Paris-based surgical tools maker Lamidey Noury Medical for €50 million cash.
Founded in 1947, Lamidey Noury devices are used in minimally invasive urology, gynaecology, and general surgery in over 60 countries.
Lamidey Noury's unaudited revenue for the 12 months to October 2024 was €13.6m (approximately £11.4m), with an EBIT margin above the upper end of Halma's target range of 19-23%.
Lamidey Noury will be a standalone company within Halma's Healthcare Sector, led by its current management team.
Marc Ronchetti, Halma's chief executive, said: "Lamidey Noury is an exciting acquisition which will bring new minimally invasive surgical product capabilities to our Healthcare Sector.
It is adjacent to our existing presence in diagnosis and biopsy devices for these diseases through Rovers Medical Devices and IZI Medical.
Guillaume Noury, Lamidey Noury president, added: "Joining Halma is an exciting opportunity for us. Leveraging Halma's expertise, resources, and global reach will accelerate our growth and innovation.
Halma reports interim results on Thursday with the performance of its healthcare arm expected to be one of the main areas of focus for investors.
Shares in FTSE 100 group rose by 0.6% to 2,518p.