Halma acquires medical technology firm
Safety, health and sensor technology group Halma has acquired SunTech Medical Group, which supplies clinical grade non-invasive blood pressure monitoring products and technologies.
Safety, health and sensor technology group Halma has acquired SunTech Medical Group, which supplies clinical grade non-invasive blood pressure monitoring products and technologies.
The company was purchased for an initial consideration of $46m (£29.7m) for the share capital alongside $5.0m (£3.2m) for cash retained in the business. SunTech's working capital, excluding cash, is expected to be around $8.3m (£5.4m).
A further consideration of up to $6.0m (£3.9m) will be paid if earnings for the year to December 2012 exceed a pre-determined target.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
SunTech's unaudited accounts, adjusted for non-recurring expenses, for the financial year ended December 31st 2011 show revenues of $23.0m (£14.8m) and an operating profit of $5.4m (£3.5m), while current trading remains good, the firm said.
Andrew Williams, Halma's Chief Executive, said: "The acquisition of SunTech continues our strategy of building strong positions in markets with resilient long-term growth drivers. Their blood pressure monitoring technology is a perfect complement to Riester's own clinical grade blood pressure monitoring devices and this acquisition allows the two companies to work together to further develop their markets and products."
SunTech will join Halma's Health and Analysis sector within the Health Optics sub-sector which includes Riester, Keeler, Volk and Accutome.
The acquisition is expected to be immediately earnings enhancing.
Halma's share price rose 0.98% to 390.10p by 12:26.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
European stocks are back in business – can it last?
European stocks enjoy a strong start to the year, but the rally is proving uneven as France struggles to keep up
-
8 of the best properties for sale with communal gardens
The best properties for sale with access to communal gardens – from an apartment in a listed building opposite London’s Hyde Park, to a wing of a mansion with access to 180 acres of parkland in Henley-upon-Thames