Halma PLC, a global group of life-saving technology companies, has announced the acquisition of the TeDan group of companies. TeDan is a global leader in innovative surgical access systems, primarily for spinal surgery. The initial cash consideration for the acquisition is $89.1 million, which will be funded from Halma's existing facilities. An additional earn-out consideration of up to $10.9 million is payable based on TeDan's performance. TeDan's consolidated unaudited revenue for the 12 months to March 2023 was $29.2 million. TeDan will operate as a standalone company within Halma's Healthcare sector, led by its current management team.
Danny Fishman, CEO of TeDan, commented that joining Halma will help the company grow and invest in the US and internationally. He also highlighted the increasing demand for healthcare as the population ages and the need for surgical access innovation. Marc Ronchetti, Group CEO of Halma, stated that the acquisition of TeDan extends the technologies and capabilities of Halma's Healthcare sector in the treatment of patients in acute therapeutic settings. He expressed excitement about working with the TeDan team to expand their global impact.
Halma is a global group of life-saving technology companies focused on safety, environment, and health. It employs over 8,000 people in more than 20 countries and is listed on the London Stock Exchange. TeDan comprises four distinct companies: TeDan Surgical Innovations, West Coast Surgical, Axcess Surgical Innovations, and TeDan Surgical Innovations GmbH. TeDan develops, manufactures, and supplies surgical access systems for a range of acute therapeutic procedures, with a primary focus on spinal surgery.