Safety equipment company Halma has reported that it has acquired Netherlands-based Rovers Medical Devices.
The FTSE 100-listed firm will pay an initial €85million (approximately £73million) for the business, on a cash-and debt-free basis.
The Buckinghamshire-based company added that an additional consideration of up to €6million (approximately £5million) is payable in cash, based on Rovers’ performance in the period to 31 March 2025.
Rovers manufactures cell sampling devices used in tests for cervical cancer.
The FTSE 100-listed firm will pay an initial €85million (approximately £73million), on a cash- and debt-free basis to acquire Rovers Medical Devices
Rovers will be a standalone company within Halma’s Healthcare sector, led by its current management team.
Marc Ronchetti, group chief executive of Halma, said: ‘Rovers will broaden the range of markets we serve in women’s health and further strengthen our healthcare sector’s position in cancer diagnosis products.
‘We are excited by the opportunities we see to increase Rovers’ positive impact on public health. We expect its future growth to be driven by increasing global cervical screening rates, supporting the World Health Organization’s strategy to accelerate the early detection of cervical cancer.’
Roel Leenders, chief executive officer of Rovers, added: ‘We want to contribute to the prevention of cancer on a global scale. This mission strongly aligns to Halma’s when it comes to improving quality of care for patients.
‘By joining the Halma group, Rovers can grow to the next level, adding talent development and commercial opportunities while collaborating with a global group of like-minded businesses, that will help us to enable better screening and diagnostics for patients worldwide.’
The deal is the latest in a number of acquisitions Halma has been involved in.
In November, the tech developer reported that it had purchased TeDan group of US-based surgical innovation companies for an initial $89.1million (around £72million).
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 $10.9million (around £9million) in cash, depending on TeDan’s performance in the period to June 2024.
Halma shares were down by 0.26 per cent to 2,296p in afternoon trading on Monday.
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