Tue, 04 Aug 2026 | DIVISION SALE
Buckinghamshire-headquartered safety equipment group Halma Plc has completed the sale of a US-based subsidiary in a deal worth £45 million. The deal sees Novabone Products LLC, a designer and manufacturer of orthobiologic products, acquired by Massachusetts-based Isto Biologics, along with its subsidiaries, for $60 million on a cash and debt-free basis.
Headquartered in Florida, NovaBone designs and manufactures differentiated orthobiologic products - medical products that help patients to heal faster.
Since being acquired by Amersham-based Halma in early 2020, NovaBone has strengthened both its capabilities and product offering. However, following a recent strategic review, it was determined that NovaBone would be best placed for growth under ownership that was more directly aligned with its market and investment requirements.
Massachusetts-based Isto Biologics, an established orthobiologics business, is described as having a more complementary product portfolio to NovaBone and being better positioned to support the company’s long-term growth.
NovaBone was acquired by Halma in January 2020 for $97 million (approximately £74.19 million at the time). Despite selling the portfolio company at a lower price, Halma says it does not expect to see either a material gain or loss on the disposal.
The sale is said to reflect Halma’s disciplined approach to its capital allocation, while enabling the group to continue to focus on areas in which it has identified the strongest opportunities to generate long-term growth and returns.
Commenting on the sale of NovaBone, Halma Group Chief Executive Marc Ronchetti said: “We are pleased to have found a new home for NovaBone. Isto Biologics’ deep industry expertise and complementary portfolio make it a clear strategic fit for NovaBone, while enabling Halma to continue focusing investment in areas where we see the best opportunities for long-term growth and returns.”
“I would like to thank the NovaBone leadership team and all its employees for their contribution to the Group. We wish them every success for the future.”
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