Halma plc
('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future for everyone every day, today announces that it has acquired Infinite Leap, Inc. (Infinite Leap) for its Medical sector business, CenTrak, which provides real-time location services for healthcare facilities.
Infinite Leap is a healthcare consulting and services provider for real-time location technologies, based in Fargo, North Dakota, USA, which is also developing unique new hardware and software solutions for applications adjacent to CenTrak's core market. The initial cash consideration is US$30m (approximately £22m), on a cash and debt free basis, which will be funded from Halma's existing facilities. Additional earn-out considerations are payable in cash, based on growth targets in each of the two financial years to 30 September 2023, up to an aggregate maximum of US$17m (approximately £13m). Infinite Leap's unaudited revenue for the 12 months to 31 March 2021 was US$6.8m (approximately £5m) (see “Further information on Infinite Leap” below for further details).
Andrew Williams, Group Chief Executive of Halma, commented:
“Infinite Leap is an exciting acquisition that will enhance CenTrak's capabilities as an end-to-end enterprise solutions provider for healthcare organisations. It will enable CenTrak to broaden its services, solutions and technologies to support the growing needs of healthcare providers, particularly larger organisations with networks of healthcare facilities, in the post-pandemic world.”