Technology group Halma PLC (LON:HLMA) has expanded its medical division with the acquisition of assets that specialise in monitoring blood pressure.
The health and safety company has bought Cardios, which manufacturers and supplies ambulatory electrocardiogram recorders and blood pressure monitors to Brazilian healthcare providers.
The products that Cardios supplies 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.
Halma, which agreed to pay an initial cash consideration of R$50mln and a further consideration of R$5mln contingent on performance, said the products are complementary to its patient assessment devices.
The company’s SunTech Medical Inc subsidiary also purchased CASMED NIBP, which includes a range of non-invasive blood pressure devices, from CAS Medical Systems Inc. Halma will pay an initial cash consideration of US$4.5mln and up to a further US$2mln based on sales performance through to June 2019.
The two acquisitions are expected to be “immediately earnings enhancing” and were funded using Halma's existing cash and debt facilities, the group 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," said chief executive Andrew Williams.