REG - Halma PLC - Acquisition

HalmaAnnouncement

04/03/2024 07:00

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RNS Number : 3420F  Halma PLC  04 March 2024

Halma plc ('Halma' or the 'Group')

Acquisition

Halma, the global group of life-saving technology companies, today announces
that it has acquired Rovers Medical Devices B.V. ("Rovers").

 

Headquartered in Oss in the Netherlands, Rovers designs and manufactures
sample collection devices used in the prevention and diagnostics of cervical
cancer. Rovers' products are principally for professional use and include its
Cervex-Brush®, widely recognised as the gold standard for cervical cancer
screening. Rovers' products are used in more than 90 countries, and are sold
primarily to medical diagnostic companies, as well as medical distributors,
laboratories, research institutes and governments.

 

The initial consideration for Rovers is €85m (approximately £73m), on a
cash- and debt-free basis, which will be paid in cash and funded from Halma's
existing facilities. An additional consideration of up to €6m (approximately
£5m) is payable in cash, based on Rovers' performance in the period to 31
March 2025.

 

Rovers' unaudited revenue for the 12 months to 31 December 2023 was €12.0m
(approximately £10.3m), 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.

 

Marc Ronchetti, Group Chief Executive of Halma, said:

 

"Rovers will broaden the range of markets we serve in women's health and
further strengthen our Healthcare sector's position in cancer diagnosis
products. We are excited by the opportunities we see to increase Rovers'
positive impact on public health. We expect its future growth to be driven by
increasing global cervical screening rates, supporting the World Health
Organization's strategy to accelerate the early detection of cervical cancer."

 

Roel Leenders, Chief Executive Officer of Rovers, said:

 

"We want to contribute to the prevention of cancer on a global scale. This
mission strongly aligns to Halma's when it comes to improving quality of care
for patients. Many physicians work with us to develop the highest quality
screening products that are most effective for their patients. By joining the
Halma group, Rovers can grow to the next level, adding talent development and
commercial opportunities while collaborating with a global group of
like-minded businesses, that will help us to enable better screening and
diagnostics for patients worldwide."

 

For further information, please contact:

 

Halma plc

Marc Ronchetti, Group Chief Executive
    +44 (0)1494
721111

Steve Gunning, Group 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

Oliver Hughes / Rachel Farrington / Ollie Hoare
        +44 (0)20 3128 8100

 

A copy of this announcement, together with other information about Halma, is
available at www.halma.com (http://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 markets it operates in:

·        Health - Meeting the increasing demand for better healthcare
as chronic illness rises, driven by growing and ageing populations and
lifestyle changes.

·        Environment - Addressing the impacts of climate change,
pollution and waste, protecting life-critical resources and supporting
scientific research.

·        Safety - Protecting people's safety and the environment as
populations grow and enhancing worker safety.

 

It employs over 8,000 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.

 

Halma has been named as one of Britain's Most Admired Companies for the past
five years.

 

For more information www.halma.com (http://www.halma.com/)

 

ENDS

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