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