![]() MST’s other market leading products include the Ahmed Micro-Set, Barrett Irrigation/Aspirator, MST Capsule Retractors, Dewey Radius and Packard Phacoemulsification Tips and Packer/Chang IOL Cutters.Ĭataracts are the leading cause of blindness worldwide and cataract surgery is growing rapidly now that replacing a diseased lens with a new artificial lens can restore sight. MST’s work with key opinion leading ophthalmic surgeons led to the development and marketing of the Malyugin Ring®, which is recognized as the product of choice by US Ophthalmic surgeons for mechanical dilation of the pupil/iris during difficult or complex cataract surgeries. A physician founded the company in 1976 and growth accelerated following a management buy-out in 2007. MST is an ophthalmic surgical device business focused on innovations for cataract surgery. The international presence of our other ophthalmic product businesses offers exciting growth opportunities for MST under Halma’s ownership." ![]() "The acquisition of MST continues our strategy of focusing on critical products in niche markets with strong growth drivers, expanding our surgical product offering in ophthalmology. MST will join Halma’s Health and Analysis sector within the Health Optics sub-sector which includes our other market-leading ophthalmic device businesses: Accutome, Keeler, Medicel, Riester and Volk.Īndrew Williams, Halma’s Chief Executive, commented: The acquisition, which is expected to be immediately earnings enhancing, has been funded from Halma’s cash and debt facilities. Existing management will remain in place and will continue to operate the business in Redmond. MST is being acquired from management and several private shareholders. Unaudited accounts for the first 9 months of the financial year ended 31 December 2012 show revenue of $17.1 million (£10.6 million). Audited accounts for the full financial year ended 31 December 2011 show revenue of $20.4 million (£12.6 million). The combined consideration is adjustable Dollar for Dollar if the level of working capital at closing falls outside an agreed range.Ĭontingent consideration of up to $43.0 million (£26.5 million) is payable if earnings for the two years to March 2015 exceed pre-determined targets. The initial cash consideration is $57.0 million (£35.2 million) for the share capital plus $2.0 million (£1.2 million) for cash retained in the business. MST is located in Redmond, Washington, USA. MST ( designs, manufactures and markets ophthalmic surgical products, focusing on single-use devices used in cataract surgery. (“MST”) was completed on 18 December 2012. Halma, the leading safety, health and environmental technology group, today announces that the acquisition of MicroSurgical Technology, Inc. Environment Commitment Statement and Supplier StatementĪcquisition of MicroSurgical Technology, Inc.Our sustainability approach and progress.Our markets and their long term growth drivers.
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