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GLEN ALLEN, VA – Hamilton Beach Brands Holding Company (NYSE: HBB) today announced that it has acquired HealthBeacon PLC, a medical technology company specializing in connected devices for home medication management. This acquisition is part of Hamilton Beach's strategic efforts to grow in the home health and wellness market.
HealthBeacon is known for developing tools to help patients with chronic conditions manage their injectable medications and has operations in multiple regions including the UK, Europe, North America and Australia. The company has a team of approximately 50 people, including engineers and data scientists, and holds more than 30 patents.
Gregory H. Trepp, president and CEO of Hamilton Beach Brands, said the acquisition leverages HealthBeacon's digital capabilities and patented technology to strengthen its position in the home healthcare space. . Mr. Trepp emphasized the potential for increased shareholder value through this investment.
Rob George has been appointed Global General Manager of Hamilton Beach Health and will lead the expansion of the business. His co-founder, Kieran Daly, of HealthBeacon, will continue to report to George and oversee day-to-day operations.
Financial terms of the acquisition were not disclosed. However, HealthBeacon's revenue model is based on subscription services, offering products such as the Smart Sharps Bin™ and digital risk management platform for oncology patients.
The acquisition follows Hamilton Beach's previous partnership with HealthBeacon, which was established in 2021 to market and distribute HealthBeacon products in the United States. The company remains focused on improving patient outcomes and exploring additional partnerships in the home health market.
Hamilton Beach Brands Holding Company is known for its large selection of small home and commercial appliances under a variety of brand names, including Hamilton Beach®, Proctor Silex®, and Hamilton Beach Commercial®.
Information in this article is based on a press release from Hamilton Beach Brands Holding Company.
Investment Pro Insights
Investors may find the following InvestingPro data and tips particularly valuable in light of Hamilton Beach Brands Holding Company (NYSE: HBB)'s recent acquisition of Health Beacon PLC. The company has a moderate market capitalization of $256.08 million and a trailing 12-month P/E ratio of 17.67x as of Q3 2023, indicating a potentially reasonable market valuation. Masu. Revenue for the same period was his $615.22 million, indicating the company's large business scale despite a slight decrease of 4.24%.
In particular, Hamilton Beach has shown a strong commitment to its shareholders, increasing its dividend for seven consecutive years and currently yielding a dividend of 2.4%. This, combined with his solid one-year total stock return of 49.44%, highlights the company's ability to create value for investors. Additionally, the significant three-month total stock return of 46.17% reflects recent positive market sentiment, which may be related to strategic moves such as the HealthBeacon acquisition.
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