Embecta to Acquire Owen Mumford for Up to £150M

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.