Halma buys healthcare sensors maker CenTrak for about $140M
Healthcare devices maker Halma Plc said it had bought CenTrak Inc, a privately owned maker of sensors, for about $140 million (95.9 million pounds), expanding its footprint in the U.S. healthcare market.
Halma, which makes products such as water quality test kits and smoke detectors sensors, said the deal, funded using its existing cash and debt facilities, would immediately add to earnings.
The company has proved more resilient than other engineering firms to a fall in orders from emerging markets and commodity customers due to its exposure to health, safety and environmental markets, where increased legislation has boosted demand.
Halma has spent about 650 million pounds buying more than 30 businesses in the past 10 years. Last year it paid just under $250 million to buy two businesses, including one that makes products for medical customers, Thomson Reuters data showed.
Newtown, Pennsylvania-based CenTrak’s technology allows for real-time monitoring of staff, medical equipment and hygiene compliance and temperature conditions, Halma said.
Halma said it would help CenTrak grow in the United States, expand internationally and come up with potential applications for its products for Halma’s other end-markets.
CenTrak would be part of Halma’s medical unit and its CEO and management team will continue to operate the business. (Reporting by Esha Vaish in Bengaluru; Editing by Gopakumar Warrier)