Halma buys ophthalmic instruments maker Surgistar for USD90 million

(Alliance News) - Halma PLC on Monday said it has acquired California, US-based ophthalmic surgical instruments and device manufacturer Surgistar Inc for USD90 million.

The Amersham, England-based safety products manufacturer said the acquisition is a bolt-on for its healthcare sector company MicroSurgical Technology Inc. The deal is on a cash and debt free basis and will be funded from Halma's existing facilities.

Surgistar designs and manufactures ophthalmic surgical instruments and devices including blades, cannulas and trephines.

"Surgistar's differentiated product range is highly complementary to MST's and further strengthens Halma's ophthalmic product offering," said Halma Chief Executive Marc Ronchetti.

"The acquisition enhances MST's manufacturing capabilities and supports its long-term growth through MST's existing direct and global channels. We are excited to see our existing companies expand their capabilities through bolt-on acquisitions and delighted to welcome Surgistar to Halma."

Shares in Halma were up 0.5% at 4,183.00 pence on Monday morning in London.

By Michael Hennessey, Alliance News reporter

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