Halma (LSE:HLMA) has entered into an agreement to acquire Strasbourg-based Dreampath Diagnostics, a specialist in automated solutions for tracking, storing and managing patient tissue samples used in anatomical pathology laboratories.
Dreampath has developed a closed-platform system that combines hardware, software and recurring consumables to streamline complex laboratory workflows. Its technology is designed to improve sample traceability, minimise the risk of identification errors and increase efficiency while helping laboratories meet stringent regulatory standards and long-term tissue storage requirements.
The acquisition includes an upfront cash payment of €154 million, with an additional earn-out of up to €121 million linked to performance through 2028. Dreampath is expected to generate revenue of €33 million in the year ending March 2027. Following completion, Halma will operate the business independently within its Healthcare Sector, expanding its diagnostics portfolio with advanced tissue sample traceability and lifecycle management technology. The company believes the acquisition will reinforce its healthcare capabilities and position it to benefit from increasing demand for safer and more efficient diagnostic services.
Halma’s investment case continues to be supported by strong financial execution, including an upbeat earnings update featuring higher guidance and improved margins. However, this is balanced by weaker short-term technical indicators, with the shares remaining below key moving averages, as well as a relatively demanding valuation reflected in a high price-to-earnings ratio and modest dividend yield.
More about Halma plc
Halma plc is a UK-listed international group of technology businesses focused on improving safety, protecting the environment and advancing healthcare. Operating across more than 20 countries, the company provides products and services that help safeguard people and infrastructure, monitor vital resources, and enhance the diagnosis, treatment and delivery of healthcare worldwide.
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