Halma has acquired Surgistar for £67m as a bolt-on for its healthcare sector company, MicroSurgical Technology (MST).

Surgistar was founded over two decades ago and is based in California.

It designs and manufactures ophthalmic surgical instruments and devices, with a product portfolio including blades, cannulas and trephines, which are manufactured using highly automated processes that help ensure quality and sharpness.

The healthcare technology firm’s £67m cash consideration will be funded from Halma’s existing facilities on a cash- and debt-free basis.

Group chief executive at Halma, Marc Ronchetti, stated: "Surgistar's differentiated product range is highly complementary to MST's and further strengthens Halma's ophthalmic product offering.

"The acquisition enhances MST's manufacturing capabilities and supports its long-term growth through MST's existing direct and global channels. We are excited to see our existing companies expand their capabilities through bolt-on acquisitions and delighted to welcome Surgistar to Halma."

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