17th Dec 2015 07:46
LONDON (Alliance News) - Halma PLC said Thursday it has acquired Barcelona-based Visiometrics SL and California-based Visual Performance Diagnostics Inc, together known as Visiometrics, for a maximum total consideration of EUR125 million.
This includes EUR18 million to be paid at closing, deferred consideration of up to EUR69 million to be paid over the next three years, and deferred consideration of up to EUR40 million to be paid in royalties over the next five years.
The acquisition is expected to add to earnings in the first year of ownership, and is funded through Halma's existing cash and debt facilities.
Visiometrics will become part of Halma's Medical sector, and its chief executive officer and management team will continue to operate the business out of its current locations.
"Visiometrics is an exciting addition to Halma's Medical sector. We believe that their new technology has great potential to become a standard of care in the field of ophthalmic diagnosis, where Halma already has a strong global presence. We will be working closely with their management team to achieve their ambitious growth objectives," said Halma Chief Executive Andrew Williams in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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