LONDON: Halma, the global group of life-saving technology companies focused on growing a safer, cleaner, healthier future for everyone, every day, today announces that it has acquired Surgistar, Inc. (Surgistar) as a bolt-on for its Healthcare Sector company, MicroSurgical Technology, Inc. (MST).
Founded over 20 years ago and based in California, Surgistar designs and manufactures ophthalmic surgical instruments and devices. Its product portfolio includes blades, cannulas and trephines, which are manufactured using highly automated processes that help ensure consistent quality and sharpness.
The cash consideration for Surgistar is $90m (approximately £67m), on a cash- and debt-free basis, to be funded from Halma’s existing facilities.
Marc Ronchetti, Group Chief Executive of Halma, commented: “Surgistar’s differentiated product range is highly complementary to MST’s and further strengthens Halma’s ophthalmic product offering.
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.”