Listen to this article

Parsippany-based Embecta Corp. closed its previously announced acquisition of Owen Mumford Holdings Ltd. in a deal worth $200 million. 

The diabetes care technology company announced the purchase of the U.K.-based medical device manufacturer May 15.  

The companies previously disclosed signing a definitive agreement in March. Under the terms of the deal, Embecta will acquire Mumford Holdings for an upfront payment of about $135 million. 

Additionally, the agreement includes up to $65 million more in performance-based payments based on net sales of the Aidaptus auto-injector for three years after closing. 

“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‑centered design,” Devdatt Kurdikar, chairman, president and CEO of Embecta, said in March.  

The transaction is expected to accelerate the BD spinoff’s transformation into a broad-based medical supplies company beyond diabetes care. 

Founded in 1952, Owen Mumford develops drug delivery technologies and also offers a portfolio of medical devices used in chronic care and point-of-care applications, including self-injection and diagnostics.

J.P. Morgan Securities LLC served as financial advisor and A&O Shearman LLP served as legal counsel to Embecta. Owen Mumford obtained Forvis Mazars LLP as financial advisor and Mills & Reeve LLP as legal counsel.