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- Deal could reach £78m depending on Rovers’ performance until March 31, 2025
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Safety equipment company Halma has announced that it has acquired Netherlands-based Rovers Medical Devices.
The FTSE 100-listed company will pay an initial €85m (approximately £73m) for the business, in cash and debt-free.
The Buckinghamshire-based company added that additional cash consideration of up to €6m (approximately £5m) will be paid, depending on Rovers’ performance in the period to March 31, 2025.
Rovers manufactures cell sampling devices used in cervical cancer testing.
The FTSE 100-listed company will pay an initial €85m (approximately £73m), in cash and without debt, to acquire Rovers Medical Devices.
Rovers will be an independent company within Halma’s healthcare sector, led by its current management team.
Marc Ronchetti, CEO of the Halma group, said: “Rovers will expand the range of markets we serve in women’s health and further strengthen our healthcare sector’s position in cancer diagnostic products.
‘We are excited about the opportunities we see to increase the Rovers’ positive impact on public health. “We expect its future growth to be driven by increasing global cervical cancer screening rates, supporting the World Health Organization’s strategy to accelerate early detection of cervical cancer.”
Rovers chief executive Roel Leenders added: “WWe want to contribute to cancer prevention on a global scale. This mission strongly aligns with Halma’s when it comes to improving the quality of patient care.
“By joining the Halma group, Rovers can grow to the next level, adding talent development and business opportunities while collaborating with a global group of like-minded companies, who will help us enable better screening and diagnostics for patients around the world.”
The deal is the latest in a series of acquisitions in which Halma has been involved.
In November, the technology developer said it had bought US-based TeDan group of surgical innovation companies for an initial $89.1m (around £72m).
As part of the deal, the group acquired TeDan Surgical Innovations, West Coast Surgical, Axcess Surgical Innovations and TeDan Surgical Innovations.
The company will also pay up to an additional $10.9 million (around £9 million) in cash, depending on TeDan’s performance in the period to June 2024.
halma actions They were down 0.26 per cent at 2,296 pence in afternoon trading on Monday.
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