Halma acquires US-based CenTrak

Total cash consideration for the deal was $140m (£96.3m), adjustable dollar for dollar if net assets turned out to be more or less than a pre-determined amount. However, Halma's board said any adjustment was not expected to be material.

The FTSE 250 health, safety and environmental technology group described CenTrak's activities as designing and manufacturing sensors and proprietary communication technology, providing reliable and precise location data for healthcare facilities in their compliance and patient care activities.

CenTrak's technology enabled facilities to track the real-time location of patients, staff and medical equipment, as well as monitor patient security, hand hygiene compliance, and environmental and temperature conditions.

Halma chief executive Andrew Williams said the acquisition was an exciting addition to the company's medical sector.

"It has a range of sensor and communications technologies which are very similar to those used by other Halma companies in our Infrastructure Safety and Environmental & Analysis sectors, but with a clear focus on medical and healthcare applications", he said.

"We are looking forward to working with CenTrak's management team towards delivering their growth strategy, which includes further market penetration in the USA, international expansion and - in the longer term - potential new applications in other Halma sectors", he added.

CenTrak's unaudited accounts for the year ended 31 December 2015 included reported revenue of $43.8m - excluding net deferred income - and profit before tax of $10.2m. Net deferred income in 2015 was $6.6m, which would be recognised in future profits, the company said.

The US-based CEO and management team would continue to operate the business out of its current locations, Halma confirmed.