Halma buys Rovers Medical for €85m

4th Mar 2024 07:09

(Sharecast News) - Health tech company Halma on Monday said it had bought Netherlands-based Rovers Medical Devices for €85m (£73m).

Rovers designs and makes sample collection devices used in the prevention and diagnostics of cervical cancer, Halma said in a statement. An extra payment of €6m is payable in cash, based on Rovers' performance in the period to March 31, 2025.

Unaudited revenue for the 12 months to 31 December 2023 was €12.0m, with return on sales more than double Halma's target range of 18-22%. Rovers will be a standalone company within Halma's Healthcare sector, led by its current management team, Halma added.

Reporting by Frank Prenesti for Sharecast.com

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