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Halma buys Medizintechnik from Paragon for 55 mln eur cash

Thu, 20th Dec 2007 07:53

LONDON (Thomson Financial) - Halma PLC said it has acquired Germany based
PP Medizintechnik GmbH and its Rudolf Riester GmbH & Co KG and Riester Verwaltungs GmbH units from Paragon Secondary Partners LP and G Glufke for 55 mln eur cash.

The sensor technology company said the purchase, which is immediately earnings enhancing in the current year, has been funded from its existing cash and debt facilities.

Riester, which generates over 90 pct of its revenue outside of Germany, manufacturers small diagnostic medical devices for applications including ophthalmology, blood pressure measurement and ear, nose and throat diagnostics.

For the first nine months to end-Sept, Riester had an operating profit of 4.6 mln eur.


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