Halma plc, the leading safety, health and sensor technology group, has acquired SunTech Medical Group Limited. Based in Morrisville, NC, SunTech is a pre-eminent supplier of clinical grade non-invasive blood pressure monitoring products and technologies. They sell both under the SunTech brand and through a variety of medical device OEMs which incorporate SunTech products into their own patient monitoring systems. The initial cash consideration is $46.0 million and contingent consideration of up to $6.0 million is payable if earnings for the year to December 2012 exceed a pre-determined target. Revenues for the year ended 31 December 2011 were $23.0 million with operating profit of $5.4 million. EC Mergers & Acquisitions acted as exclusive financial advisor to Halma plc on this transaction.
