Synergy Health acquires US business

21st Mar 2012 South West

Synergy Health has acquired US-based MSI Surgical Solutions as part of its plans to develop a hospital outsourcing service in the US.

The Swindon-based company has acquired MSI from Empire Investment Holdings for a cash consideration of $6.5 m (£4.1m).

MSI operates a hospital sterilisation facility in New York and is said to be the second largest provider of these outsourced services in the US. It recorded revenue of $4m (£2.5m) for the year to 31 December 2011.

Synergy Health said the acquisition of MSI is an early step in its plans to develop a hospital outsourcing base in the US. The company will work with MSI's customer base to expand its knowledge with the view of developing a networking in 2013.

Synergy Health chief executive Richard Steeves said: "The acquisition of MSI is an exciting first step for Synergy into the US hospital sterilisation market.

"By having a small, but low risk entry point into this market, we will be in a position to fully research the requirements of the US healthcare market and set ourselves up for a progressive expansion of the service in 2013."

The company made its first US acquisition in April 2011 when it purchased BeamOne, a provider of e-beam medical sterilisation services. Synergy Health announced the acquisition of Switzerland-based Leoni Studer Hard for £39.7m (€47.6m) earlier this week.

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