LONDON (dpa-AFX) - Halma plc (HLMAF, HLMA.L) on Tuesday agreed to acquire Dreampath Diagnostics, a France-based provider of automated tissue sample management systems for anatomical pathology laboratories, for an initial 154 million euros or $132 million in cash, with an additional earn-out of up to 121 million euros or $104 million tied to performance through March 2028.
The company said that the acquisition will strengthen the company's healthcare business by expanding its capabilities in tissue sample traceability, archiving and lifecycle management.
The initial consideration will be funded from the company's existing facilities on a cash- and debt-free basis.
The earn-out, payable in cash, will depend on Dreampath's performance over the two years ending March 31, 2027 and March 31, 2028, with payments split 38% and 62%, respectively.
The company is expected to generate 33 million euros or $28 million in revenue for the 12 months ending March 31, 2027.
Following the acquisition, Dreampath will operate as a standalone business within Halma's Healthcare Sector under its existing management team.
Dreampath is headquartered in Strasbourg, France, develops automated hardware, software and consumables that enable pathology laboratories to track, store and retrieve patient tissue samples throughout the diagnostic process.
On Monday, Halma closed trading 2.69% lesser at GBp 3,906 on the London Stock Exchange.
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