Halma Purchases IZI Medical Products for $153.5m

Halma plc, a $1.7b UK-based provider of safety, environmental and analysis, and medical technology solutions, has purchased IZI Medical Products, a maker of devices used in image-guided surgery, interventional oncology and interventional spine procedures.  IZI’s offerings include an automatic biopsy system and a vertebral compression fracture (VCF) treatment system.  IZI will operate as a standalone company within Halma’s healthcare sector and represents a new platform serving interventional radiologists and surgeons.  IZI was bought from private equity firm Shore Capital.  Deal terms -- $153.5m upfront on sales of $32.9m (4.7x) plus milestones of up to $14.5m.

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Medical Devices; Interventional Radiology