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Halma Acquires MicroSurgical Technology For About $57 Mln

Safety, health and environment technology group Halma plc (HLMA.L), Wednesday announced the acquisition of ophthalmic surgical products provider MicroSurgical Technology, Inc. (MST), for $57 million in cash in addition to a $2 million for cash retained in business. The acquisition, expected to add to earnings immediately, has been funded using existing cash and debt facilities, said the company in a statement.

Further, MicroSurgical is entitled to a payment of another $43 million, if the earnings for the 2 year period to March 2015 surpasses a pre-determined amount.

MST, set to join Halma 's Health and Analysis sector posted full-year 2011 revenue of $20.4 million.

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