(Alliance News) - Halma PLC on Tuesday said it has acquired childbirth technology specialist PeriGen Inc for a cash sum of USD58 million.
Halma, a FTSE 100-listed hazard detection and life protection technologies manufacturer, said the acquisition is on a cash and debt free basis and will be funded from its existing facilities.
North Carolina, US-based PeriGen specialises in technology protecting mothers and their unborn babies by alerting doctors, midwives and nurses to potential problems during childbirth. Its revenue for the year to March 31 was approximately USD20 million.
Halma Chief Executive Andrew Williams said: "We are excited by the opportunities offered by PeriGen's digital technology in helping clinicians protect the health of mothers and babies during childbirth, while achieving better clinical outcomes in the increasing proportion of complex births. PeriGen is highly aligned with our purpose, broadens our presence in patient assessment and monitoring into the US perinatal care market, and further extends our artificial intelligence and analytics capabilities."
Shares in Halma were 0.1% higher at 2,632.20 pence each on Tuesday morning in London.
By Will Paige; willpaige@alliancenews.com
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Halma (HLMA)