Halma has agreed to acquire Dreampath Diagnostics, a French provider of automated sample-tracking systems for pathology labs, for an initial €154 million. The deal includes a potential earn-out of up to €121 million based on performance through March 2028. Strasbourg-based Dreampath specialises in helping labs store, track and manage patient tissue samples throughout diagnostics. Its closed-loop system combines hardware, software and consumables, generating recurring revenue. The company is expected to post €33 million in revenue for the 12 months ending March 2027. The acquisition expands Halma's healthcare portfolio, adding capabilities in tissue sample management. Dreampath will operate as a standalone business, keeping its current management team. Group chief executive Marc Ronchetti said the deal positions Halma in a growing diagnostics market driven by aging populations and rising chronic disease rates.

Halma plc, the global group of life-saving technology companies focused on growing a safer, cleaner, healthier future for everyone, every day, today announces that it has acquired itemedical and Naslund Medical for its Healthcare sector companies SSG and IZI Medical. These bolt-on acquisitions strengthen Halma’s

Halma shares plunge despite record revenue and profit. Shares in Halma (LON: HLMA) plummeted more than 11% on Thursday - shedding over 510p to trade around 4,128p - as investors took fright at customer concentration risks in its fast-growing photonics division, even as the FTSE 100 safety and technology group delivered a string of record financial results. For the 12 months to 31 March 2026, Halma grew revenue 15% to £2.58 billion and adjusted earnings before interest and tax (EBIT) 22% to £594.5 million, both surpassing City forecasts and crossing the £2.5 billion and £500 million milestones for the first time. It was also the company's 23rd consecutive year of adjusted profit growth. Organic revenue rose 16%, with the photonics business - which serves the booming data centre industry - contributing around eight percentage points of that growth. However, analysts and investors flagged a growing concern: revenue from a single photonics customer climbed from 15% to 20% of group sales during the year, raising concentration risk warnings. Halma invested a record £600 million during the year, including £447 million across five acquisitions, with two further deals worth around £75 million completed after the year-end. Adjusted cash conversion remained healthy at 93%, ahead of its 90% target, while net debt stood at a comfortable 1.16 times adjusted EBITDA. The board raised its total dividend 7% to 24.74p per share - a 47th consecutive year of growth of 5% or more - though the payout came in slightly below the 25.9p the market had anticipated. Looking ahead, Halma guided for low double-digit organic revenue growth in FY2027, but with shares trading at roughly 36 times forward earnings - well above a sector average of 22 times - analysts at Panmure Liberum noted the premium valuation leaves little room for any disappointment. Searching for the perfect broker? Discover its top-recommended brokers for trading or investing in financial markets. Dive in and test their capabilities with complimentary demo accounts today! * IG Top-tier regulation - Read its Review * eToro Wide range of instruments available to trade - Read its Review YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY Team Member The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.