Halma buys surgical innovation firm TeDan in £72m deal
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Safety equipment company Halma has purchased the TeDan group of US-based surgical innovation companies.
The deal is worth an initial $89.1 million (around £72 million) on a cash and debt-free basis.
The Buckinghamshire-based company will also pay up to an additional $10.9million (around £9million) in cash, depending on TeDan’s performance in the period to June 2024.
TeDan will be a standalone company in Halma’s healthcare sector, led by its current management team.
On its website, TeDan says it is ‘committed to providing innovative, high-quality surgical access systems designed to optimize exposure and improve the surgeon experience.’
Marc Ronchetti, group chief executive of Halma, said: ‘TeDan further extends the technologies and capabilities of our healthcare sector in the treatment of patients in acute therapeutic settings.
‘TeDan’s growth is supported by the growing need for surgical treatment as populations age and as lifestyles evolve, and by the development of innovative new surgical procedures which improve efficiency and standards of care.
‘We are delighted to welcome the TeDan team to Halma and look forward to working with them to expand their global impact.’