Halma Buys Infinite Leap; Initial Cash Consideration $30 Mln

Halma Plc (HLMA.L), a British global group of safety equipment companies, on Friday said it has acquired Infinite Leap, Inc., an American firm, for its Medical sector business, CenTrak. The initial cash consideration is $30 million or about 22 million pounds with a possible earn-out payment of up to $17 million or approximately 13 million pounds.

Halma's CenTrak provides real-time location services for healthcare facilities.

Commenting on the acquisition, Andrew Williams, group chief executive of Halma, commented: "It will enable CenTrak to broaden its services, solutions and technologies to support the growing needs of healthcare providers, particularly larger organizations with networks of healthcare facilities, in the post-pandemic world."

The initial consideration will be funded from Halma's existing facilities. Additional earn-out considerations are payable in cash, based on growth targets in each of the two financial years to September 30, 2023, Halma said in a statement.

The Fargo-headquartered, Infinite Leap, a healthcare consulting and services provider for real-time location technologies, had posted a revenue of $6.8 million, for the year ended in March 2021.

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