5th Feb 2016 07:39
LONDON (Alliance News) - Halma PLC on Friday said it has acquired a US communication technology company that is focused on the healthcare market for USD140.0 million in cash, immediately boosting Halma's earnings.
The London-listed health, safety and environmental technology group said it acquired CenTrak Inc to bolster its medical division. Halma will pay the consideration, which is equal to around GBP95.9 million, using its existing cash resources and debt facilities.
Newtown, Pennsylvania-based CenTrak designs and manufactures sensors and proprietary communication technology that provides location data for healthcare facilities used to ensure healthcare providers are complying with regulations and to improve patient care.
Through strategic partnerships with leading healthcare application providers, CenTrak's technology enables real-time monitoring of a range of parameters including patient, staff and medical equipment location, patient security, hand hygiene compliance, alongside environmental and temperature conditions.
CenTrak reported revenue of USD43.8 million and a pretax profit of USD10.2 million in 2015.
The acquisition will enhance Halma's earnings immediately, it said, and the current CenTrak management team will remain in their positions.
By Joshua Warner; [email protected]; @JoshAlliance
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