EMBC News & Events

Embecta has entered into a definitive agreement to acquire Owen Mumford Holdings, a privately held, UK-based manufacturer of medical devices and drug-delivery technologies, in a transaction valued at up to GBP150M. embecta will acquire Owen Mumford for an upfront cash payment of GBP100M at closing and up to an additional GBP50M in performance-based payments based on net sales of the Aidaptus auto-injector platform in the three-year period following the closing. The transaction is expected to close in embecta's 3Q26, subject to regulatory approvals and satisfaction of other closing conditions. Owen Mumford's products include a pharmaceutical services portfolio built on historic autoinjector success with pharmaceutical companies and an outlook anchored by Aidaptus and other drug delivery devices. Owen Mumford also has a portfolio of medical devices across point-of-care testing, self-injection and pelvic health devices. Owen Mumford generated net revenue of GBP69.4M during FY25. embecta expects the acquisition to contribute to revenue growth in FY27 and beyond; to be immaterial to embecta's FY27 adjusted operating income and to be accretive thereafter; to be dilutive to adjusted net income in FY27, to be immaterial to embecta's FY28 adjusted net income and to be accretive thereafter; and to generate high-single-digit return on invested capital by year four, with increasing contribution thereafter. embecta plans to finance the closing purchase price with the proceeds of borrowings under its revolving credit facility.

Embecta announced that the board of directors of Embecta has elected Devdatt Kurdikar as chairman of the board and Claire Pomeroy as lead independent director, effective immediately. These changes follow the previously announced retirement of David Melcher, non-executive chairman of the board due to several commitments outside of his service to the Company. Kurdikar joined Becton Dickinson in 2021 to lead the diabetes care business and became the president and CEO of the company and a member of its board of directors upon completion of its spinoff from BD in 2022.

Reports Q1 revenue $261.2M, consensus $258.07M. "During the first quarter our results were largely consistent with our expectations," said Devdatt Kurdikar, CEO. "As we look ahead, we remain focused on pursuing initiatives that will transform the company into a broadbased medical supplies company which serves chronic care patients and drug delivery partners. This includes maintaining our global leadership position in core injection products, expanding our product portfolio, and creating additional financial flexibility through ongoing debt reduction. Given our performance during the first quarter, coupled with our outlook for the remainder of the year, we are maintaining our previously provided guidance for key financial reporting metrics".

Backs FY26 revenue view $1.07B-$1.09, consensus $1.08B.