Halma buys ophthalmic instruments maker Surgistar for $90m

(Sharecast News) - Halma said on Monday that it has bought Surgistar as a bolt-on for its healthcare sector company, MicroSurgical Technology (MST), for $90m (£67m). Founded more than 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".

Chief executive Marc Ronchetti said: "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."

See latest RNS on Investegate