(Alliance News) - Halma PLC on Friday said it has acquired Infinite Leap Inc to supplement its medical sector business CenTrak.
Infinite Leap is a healthcare consulting and services provider for real-time location technologies. It is based in Fargo, North Dakota, US.
It also develops hardware and software solutions for applications "adjacent" to CenTrak's core market. The Amersham, England-based safety equipment provider's CenTrak unit provides locating and sensing services for healthcare facilities.
Infinite Leap's revenue for the year ended March 31 was USD6.8 million, Halma said.
Halma will pay an initial USD30 million on a cash and debt-free basis. It will be funded by Halma's existing facilities.
Additional earn-out considerations are payable in cash up to a total amount of USD17 million, based on growth targets in each of the two financial years up to September 30, 2023.
"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," Halma Chief Executive Andrew Williams said.
Halma shares were up 1.0% at 3,153.00 pence each on Friday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Halma (HLMA)