Getinge acquires Healthmark Industries Co. Inc.
- Getinge's acquisition of Healthmark Industries strengthens its position in the infection prevention sector in the US
- The acquisition enhances Getinge's presence in sterile reprocessing in the US
- Healthmark's net sales are expected to reach nearly $126 million in fiscal year 2023, a 15% increase over fiscal year 2022
- Getinge expects approximately $30 million in gradual net synergies for the coming five years
- The purchase price implies an EBITDA multiple of 17.1x based on expected calendar year 2023 EBITDA
- The acquisition is financed through cash on hand and existing credit facilities
- None.
"We are excited and honored to team up with Healthmark", says Stéphane Le Roy, President Surgical Workflows at Getinge. "Together we will offer a broad range of solutions to sterile processing departments in hospitals. Healthmark's position in the field of consumables for cleaning verification and packaging will be an ideal complement to our consumables, reprocessing capital equipment, and software solutions. The acquisition strengthens Getinge's position in the infection prevention sector in the US, and our global customer reach in
Founded in 1969, Healthmark's headquarters and main production facilities are located in
Mark Basile, President and CEO of Healthmark, states: "We are pleased with Healthmark being integrated into the Getinge family. This combination makes sense due to the minimal overlap in our product portfolios. By bringing together our strengths, we are well positioned to better serve our customers, gain greater control over our supply chain and finished products, and expand our reach outside
Getinge paid approximately
The acquisition has been financed through cash on hand and existing credit facilities. Getinge expects to have fully integrated Healthmark by the end of 2024 and anticipates no material integration costs in 2023 and 2024.
The acquisition is not expected to have a material impact on Getinge's operating profit and earnings per share in 2023.
The statutorily required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) has passed. The transaction is closed and is not subject to further regulatory approvals or waiting periods.
More information about Healthmark Industries Co., Inc. can be found here: https://hmark.com/.
Investor Relations:
Lars Mattsson, Head of Investor Relations
Phone: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
Media contact:
Anna Appelqvist, Vice President Corporate Communications
Phone: +46 (0)10 335 5906
Email: anna.appelqvist@getinge.com
This information is such that Getinge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on October 11, 2023, at 4.10 PM CEST.
About Healthmark Industries Co. Inc.
Since 1969, Healthmark Industries Company, Inc. has developed and marketed innovative solutions to aid healthcare facilities in their delivery of surgical instruments and other lifesaving medical devices to patients. Healthmark Industries' mission is to continue to innovate, continue to support, and continue to serve the healthcare provider industry and support services that make it possible to deliver quality healthcare.
About Getinge
Getinge is a global provider of innovative solutions for operating rooms, intensive-care units, sterilization departments and for life science companies and institutions. Based on our first-hand experience and close partnerships with clinical experts, healthcare professionals and medtech specialists, we are improving the everyday life for people, today and tomorrow.
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SOURCE Getinge
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