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Halma PLC Acquisition

This content has been sourced from: https://www.investegate.co.uk/halma-plc--hlma-/rns...

Acquisition

Halma, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future, today announces that it has acquired PeriGen, Inc., ("PeriGen"), based in North Carolina, USA.

PeriGen's advanced technology protects mothers and their unborn babies by alerting doctors, midwives and nurses to potential problems during childbirth. Its software solutions use artificial intelligence to provide an automated early warning platform during labour, enabling healthcare professionals to assess complex data more easily and allowing them to spend more time on direct patient care.

The cash consideration for PeriGen is US$58m (approximately £42m), on a cash and debt free basis, which will be funded from Halma's existing facilities. PeriGen's unaudited revenue for the 12 months to the end of March 2021 was approximately US$20m (approximately £14m), with return on sales slightly above Halma's target range of 18%-22%.

Andrew Williams, Group Chief Executive at Halma, commented:

"We are excited by the opportunities offered by PeriGen's digital technology in helping clinicians protect the health of mothers and babies during childbirth, while achieving better clinical outcomes in the increasing proportion of complex births. PeriGen is highly aligned with our purpose, broadens our presence in patient assessment and monitoring into the US perinatal care market, and further extends our artificial intelligence and analytics capabilities."