Dive Brief:
- Diabetes care firm Embecta reached an agreement to buy Owen Mumford Holdings for up to 150 million pounds ($201 million) the companies said Thursday.
- The agreement includes an upfront payment of 100 million pounds and up to 50 million pounds in performance payments, based on sales of Owen Mumford’s Aidaptus auto-injector three years after closing.
- Embecta CEO Devdatt Kurdikar said the acquisition is expected to improve Embecta’s revenue growth trajectory and help the company shift into a broad-based medical supplies firm.
Dive Insight:
United Kingdom-based Owen Mumford makes autoinjectors, lancets and other medical products. The company has some overlap with Embecta on pen needles and syringes, but Embecta focuses on insulin administration while Owen Mumford’s offerings are broader, BTIG analyst Marie Thibault wrote in a research note on Thursday.
Kurdikar said in a statement that the acquisition would allow Embecta to serve patients in the obesity, diabetes, autoimmune diseases and anaphylaxis markets.
Owen Mumford reported revenue of 69.4 million pounds in its 2025 fiscal year ending Sept. 30. Embecta, which also ends its fiscal year in September, reported $1.08 billion in revenue last year.
Owen Mumford splits its business between medical devices and pharmaceutical services, with the latter expected to grow more quickly due to expected adoption of the company’s Aidaptus auto-injector platform, Thibault wrote.
Embecta expects the purchase to contribute to revenue growth in its fiscal 2027, and to be immaterial to adjusted operating income that year and accretive thereafter. The company’s board of directors has approved the deal and it is expected to close in the third quarter of 2026, subject to regulatory approvals and other closing conditions.
