Embecta has signed a definitive agreement to acquire UK-based Owen Mumford Holdings for up to £150m ($172.6m), to enhance its global presence in drug delivery technologies.
The agreement includes an upfront cash payment of £100m at closing, subject to standard adjustments, with an additional £50m based on performance linked to net sales of the Aidaptus auto-injector platform over three years post-closing.
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Owen Mumford develops medical devices and drug delivery technologies, offering autoinjectors and a range of devices for self-injection, pelvic health, and point-of-care testing.
Its commercial reach and relationships are positioned as complementary to Embecta’s existing diabetes care infrastructure across more than 100 countries.
The acquisition brings in the Aidaptus auto-injector platform and related intellectual property.
The device features a single form factor with one assembly process designed for streamlined manufacturing and reduced supply chain complexity, targeting various therapeutic areas.
Embecta aims to leverage its distribution network to broaden market reach globally. Manufacturing capabilities from both companies are set to be integrated for operational efficiencies.
Embecta chairman, president and CEO Devdatt Kurdikar said: “We are extremely pleased to announce this agreement to acquire Owen Mumford, a company that has earned a global reputation for innovation, quality and patient-centred design.
“This acquisition is expected to sustainably improve Embecta’s revenue growth trajectory and will accelerate our strategic transformation into a broad-based medical supplies company, which provides drug delivery platforms to pharmaceutical companies and serves chronic care patients in the obesity, diabetes, autoimmune diseases and anaphylaxis markets.”
Embecta intends to finance the transaction using borrowings under its revolving credit facility and remains committed to reducing debt over time.
JP Morgan Securities is acting as financial adviser and A&O Shearman as legal counsel to Embecta; Forvis Mazars is advising Owen Mumford on financial aspects, and Mills & Reeve is the legal counsel.
