Halma acquires cataract surgery device specialist

Global health and environmental technology group Halma has acquired MicroSurgical Technology, Inc. (MST).

The Washington-based MST designs, manufactures and markets ophthalmic surgical products, focusing on single-use devices used in cataract surgery. It will become part of Halma's Health Optics subsector, which also includes Accutome, Keeler, Medicel, Riester and Volk.

Halma will pay $57 million cash plus $2 million for cash retained in the business. An additional payment of up to $43.0 million will be required if earnings for the two years to March 2015 exceed pre-determined targets.