(Sharecast News) - Halma said on Friday that it has bought Infinite Leap for its medical sector business, CenTrak, for up to $47m (£35m).
CenTrak provides real-time location services for healthcare facilities. Based in North Dakota, USA, Infinite Leap is a healthcare consulting and services provider for real-time location technologies, which is also developing unique new hardware and software solutions for applications adjacent to CenTrak's core market.
The initial cash consideration is $30m (£22m). There is also an additional consideration of up to $17m (£13m) based on growth targets in each of the two financial years to 30 September 2023.
For the year to 31 March 2021, Infinite Leap's unaudited revenue was $6.8m (£5m).
Chief executive officer Andrew Williams said: "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 (HLMA)1 May 2024 09:11
IN BRIEF: Halma buys MK Test Systems to tuck into Safety division
Halma PLC - Buckinghamshire, England-based safety equipment maker - Buys MK Test Systems Ltd for GBP44 million, funded from existing facilities. Welli...