Last checked at 19 Nov 2021 07:00
Halma plc('Halma' or the 'Group')
Acquisition
Halma, the global group of life-saving technology companies focused on growing a safer, cleaner and healthier future for everyone every day, today announces that it has acquired Infinite Leap, Inc. (Infinite Leap) for its Medical sector business, CenTrak, which provides real-time location services for healthcare facilities.
Infinite Leap is a healthcare consulting and services provider for real-time location technologies, based in Fargo, North Dakota, USA, which is also developing unique new hardware and software solutions for applications adjacent to CenTrak's core market. The initial cash consideration is US$30m (approximately £22m), on a cash and debt free basis, which will be funded from Halma's existing facilities. Additional earn-out considerations are payable in cash, based on growth targets in each of the two financial years to 30 September 2023, up to an aggregate maximum of US$17m (approximately £13m). Infinite Leap's unaudited revenue for the 12 months to 31 March 2021 was US$6.8m (approximately £5m) (see "Further information on Infinite Leap" below for further details).
Andrew Williams, Group Chief Executive of Halma, commented:
"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."
For further information, please contact:
Halma plc
Andrew Williams, Group Chief Executive +44 (0)1494 721111
Marc Ronchetti, Chief Financial Officer
Charles King, Head of Investor Relations +44 (0) 7776 685948
Clayton Hirst, Director of Corporate Affairs +44 (0) 7384 796 013
MHP Communications
Andrew Jaques / Rachel Farrington +44 (0)20 3128 8572
A copy of this announcement, together with other information about Halma, is available at www.halma.com.
About Halma
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day.
Its purpose defines the three broad market areas where it operates:
· Safety: protecting life as populations grow and protecting worker safety.
· Environment: improving food and water quality, and monitoring air pollution.
· Health: meeting rising healthcare demand as growing populations age and lifestyles change.
It employs over 7,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.
In January 2021, Halma was named Britain's Most Admired Company by Management Today.
Further information on Infinite Leap
Infinite Leap, based in Fargo, North Dakota, USA, is a healthcare consulting and services provider for real-time location technologies. The company delivers industry leading patient and staff workflow software as well as end-to-end services - from solution design and business planning to deployment, training, 24/7 support, and managed services. Infinite Leap has helped healthcare providers successfully implement hundreds of projects and dozens of unique use cases, including patient flow optimisation, asset management, environmental monitoring, staff safety, wayfinding, and more.
Infinite Leap's unaudited revenue for the 12 months to 31 March 2021 of US$6.8m (approximately £5m) was principally derived from its Enterprise Solutions business, whose growth rate and return on sales are above Halma's target ranges. The business also includes a start-up, Prompt Health, which is developing a lower-cost hardware and software solution for use the ambulatory (out-patient) sector. Prompt Health is currently loss-making and is expected to become profitable over the next 2 to 3 years.
More information on Infinite Leap is available at www.infiniteleap.net.
ENDS