Embecta (Nasdaq:EMBC) announced that it completed its previously announced acquisition of Owen Mumford Holdings Limited.
Parsippany, New Jersey-based Embecta completed the deal on Friday, May 15.
The former BD Diabetes business agreed to acquire Owen Mumford in March. The deal includes an upfront cash payment of approximately $133 million (£100 million). It also includes an additional $66.4 million (£50 million) in performance-based payments, taking its total value to $199.4 million (£150 million).
Owen Mumford, a privately held, UK-based company, develops and manufactures medical devices and drug delivery technologies, including the Aidaptus next-generation auto-injector platform. The performance-based payments in the deal remain contingent on net sales of Aidaptus in the three-year period following closing.
Embecta said the transaction accelerates its planned shift in priorities toward broader medical applications. In May 2025, the company announced plans to widen its reach as a broad-based medical supplies company providing drug delivery platforms to pharmaceutical companies, serving chronic care patients in the obesity, diabetes, autoimmune diseases and anaphylaxis markets.
The company said Owen Mumford’s device design, molding and assembly capabilities, paired with its own commercial and distribution infrastructure and large-scale manufacturing expertise create opportunities for expanding geographic reach and operational efficiencies.
Embecta’s acquisition comes amid questions around its future following second-quarter results that the company itself labeled disappointing. It attributed its shortcomings to increased competitive dynamics and softness in overall market volumes in the U.S.
BTIG analysts say the company continues to generate free cash flow, but expects that to diminish with the Owen Mumford deal. Following the recent second-quarter stumble, the analysts downgraded the company from “Buy” to “Neutral.”
