Halma buys lab sample management company Dreampath Diagnostics
Halma PLC on Tuesday said it has agreed to acquire Strasbourg, France-based Dreampath Diagnostics.
Amersham, England-based safety products manufacturer Halma will pay an initial cash consideration of EUR154 million, funded from existing facilities on a cash- and debt-free basis.
Beyond that, a performance-based earn-out of up to EUR121 million will be payable in cash over the two years to March 31, 2027 and 2028, divided into payments of 38% and 62% respectively.
In the financial year ending in March 2027, Dreampath's revenue is forecast to be EUR33 million, according to Halma.
Dreampath provides automated systems allowing anatomical pathology laboratories to manage patient tissue samples during diagnostic procedures.
"By automating largely manual workflows for sample storage, tracking and retrieval, Dreampath's solutions improve traceability, reduce the risk of misidentification and increase operational efficiency," Halma said.
"Its platform combines hardware, software and a high percentage of recurring revenue consumables in a closed system, to manage the full lifecycle of patient tissue samples."
Halma sees the acquisition boosting its Healthcare Sector business, under which Dreampath will operate as a standalone company, and complementing its Healthcare Enablement unit.
Marc Ronchetti, Halma's chief executive, commented: "Dreampath is a high-quality business in a growing area of diagnostics, driven by increasing demand for better healthcare, more testing alongside new treatments, and rising rates of chronic disease as populations age. It strengthens our Healthcare Sector by adding complementary capabilities and broadening our portfolio of technologies that support safer, more efficient and effective care."
Halma shares fell 1.0% to 3,866.00 pence on Tuesday morning in London.
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