Halma buys US-based TeDan for up to $100m
Sharecast
Published Nov 20, 2023 07:44
Updated Nov 20, 2023 08:11
Halma buys US-based TeDan for up to $100m
Sharecast - TeDan, which is headquartered in Houstin, Texas and Moon Bay, California, comprises the separate companies of TeDan Surgical Innovations, West Coast Surgical, Axcess Surgical Innovations, and TeDan Surgical Innovations.
The company develops, manufactures and supplies "innovative surgical access systems" to surgeons for use in a range of acute therapeutic procedures. Its primary market is access systems for spinal surgery, and the US accounts for the majority of its sales.
For the 12 months to the end of March 2023, TeDan's consolidated unaudited revenue was $29.2m (£24m), and it had a return on sales above the upper end of Halma (LON:HLMA)'s target range of 18-22%.
Halma said TeDan will be a standalone company in its healthcare sector, led by its current management team.
Halma chief executive Marc Ronchetti 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."
Read more on Sharecast.com
Get The App
Written By: Sharecast
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.