Halma Acquires Surgistar

(RTTNews) - Halma has acquired Surgistar, Inc. as a bolt-on for its Healthcare Sector company, MicroSurgical Technology, Inc. Based in California, Surgistar designs and manufactures ophthalmic surgical instruments and devices. Its product portfolio includes blades, cannulas and trephines. The cash consideration is approximately 67 million pounds, on a cash- and debt-free basis, and to be funded from existing facilities.

Marc Ronchetti, Chief Executive of Halma, said: "Surgistar's differentiated product range is highly complementary to MST's and further strengthens Halma's ophthalmic product offering. The acquisition enhances MST's manufacturing capabilities and supports its long-term growth through MST's existing direct and global channels."

At last close, shares of Halma were trading at 4,155.82 pence.