Halma plc announced on March 4 the acquisition of Rovers Medical Devices BV for an initial cash consideration of €85 million ($91.8 million USD), with additional payments of up to €6 million (about $6.5 million) pending future performance. The acquisition is expected to strengthen Halma’s market position by broadening its healthcare technology offerings.
Rovers Medical Devices is involved in the development, production and world-wide sales of medical devices with a focus on cell sampling devices. The company had a revenue of €12 million (about $13 million USD) for the 12 months ending December 31, 2023, according to the original deal press release.
Halma is a global group of technology companies that employs more than 7,000 people in 20 countries with major operations in the United Kingdom, mainland Europe, the United States and the Asia-Pacific region.
The acquisition is being financed through Halma’s existing facilities. Rovers will operate as a standalone entity within Halma, maintaining its current management team.
This marks Halma’s third transaction since 2022. The company acquired IZI Medical Products in October 2022, followed by the TeDan group of companies (comprising the separate companies of TeDan Surgical Innovations, Inc., West Coast Surgical, LLC, Axcess Surgical Innovations, LLC and TeDan Surgical Innovations GmbH) in November 2023.
According to data captured in the LevinPro HC database, this acquisition marks the 14th Medical Devices transaction of 2024. There were 109 Medical Devices deals announced during 2023, and 122 during 2022.
