Halma Acquires TeDan Surgical Innovations

Halma, a global group of life-saving technology companies, acquired TeDan, a group of companies that develop, manufacture and supply medical devices that surgeons use in spinal, neurological, cardiac and orthopaedic operations.

This strategic move marks the formation of the TSI Group, comprising the companies TeDan Surgical Innovations, West Coast Surgical and Axcess Surgical.

The initial cash consideration for TeDan is $89.1 million (~£72 million). An additional earn-out consideration of up to $10.9 million (~£9 million) is payable in cash, based on TeDan’s performance in the period to June 2024. TeDan’s consolidated unaudited revenue for the 12 months to 31 March 2023 was $29.2 million (~£24 million).

“World spending on healthcare is increasing as demand continues to grow, especially as the number of people over 60 has reached more than one billion,” said Danny Fishman, Chief Executive Officer of TeDan. “For over ten years, TeDan has been at the forefront of surgical access innovation, creating an improved experience for surgeons in the operating room and better outcomes for patients. Joining Halma will help us to grow and invest in the U.S. and internationally. Together, we share a common purpose of ensuring a healthier future for everyone, every day.”

“TeDan further extends the technologies and capabilities of our Healthcare sector in the treatment of patients in acute therapeutic settings,” said Marc Ronchetti, Group Chief Executive of Halma. “TeDan’s growth is supported by the growing need for surgical treatment as populations age and as lifestyles evolve and by the development of innovative new surgical procedures which improve efficiency and standards of care. We are delighted to welcome the TeDan team to Halma and look forward to working with them to expand their global impact.”

Sources: TeDan Surgical and Halma plc