Halma Plc (LON:HLMA) has announced the acquisition of Dreampath, a Strasbourg-headquartered provider of automated systems for anatomical pathology laboratories that track, store and manage patient tissue samples.
As international regulation requires samples to be retained for extended periods with a minimum of 10 years, there is a critical need for secure, traceable and scalable storage solutions. By automating largely manual workflows for sample storage, tracking and retrieval, Dreampath’s solutions improve traceability, reduce the risk of misidentification and increase operational efficiency in a highly regulated, mission-critical stage of the patient journey, ultimately reinforcing patient safety. Its platform combines hardware, software and a high percentage of recurring revenue consumables in a closed system, to manage the full lifecycle of patient tissue samples.
The initial cash consideration is €154m (approximately £132m), on a cash- and debt-free basis, to be funded from Halma’s existing facilities. In addition, an earn-out of up to a maximum €121m (approximately £104m) is payable in cash, based on performance over the two years to 31 March 2027 and 2028 (split 38%/62%). Dreampath’s revenue for the 12 months to 31 March 2027 is forecast to be €33m (approximately £28m).
The acquisition strengthens Halma’s Healthcare Sector by adding capabilities in tissue sample traceability, archiving and lifecycle management, complementing its existing portfolio in Healthcare Enablement. Dreampath will operate as a standalone company within Halma’s Healthcare Sector, led by its current management team.
Marc Ronchetti, Group Chief Executive of Halma, commented: “Dreampath is a high-quality business in a growing area of diagnostics, driven by increasing demand for better healthcare, more testing alongside new treatments, and rising rates of chronic disease as populations age. It strengthens our Healthcare Sector by adding complementary capabilities and broadening our portfolio of technologies that support safer, more efficient and effective care. We are pleased to welcome Dreampath to Halma.”
Pablo Jordan, CEO of Dreampath, said: “We are excited to join Halma at an important point in Dreampath’s journey. We were looking for a long-term home that would value what makes Dreampath distinctive, support our people and culture, and help us accelerate our growth to continue protecting patients, sample by sample. Halma offers that combination of autonomy, ambition and support. We are pleased to become part of the Group and look forward to the opportunities ahead. We thank all employees and our shareholders for their support getting us here.”
