Hamilton Beach Brands Holding Company Announces Acquisition Of Healthbeacon Plc, Financial Terms Undisclosed

Hamilton Beach Brands Holding Company (NYSE:HBB) today announced that through its Hamilton Beach Health subsidiary it has acquired HealthBeacon PLC, a medical technology firm and strategic partner of the company. HealthBeacon develops connected devices that enable patients with chronic conditions to manage their injectable medication regimens at home and provides other health services.

Gregory H. Trepp, president and chief executive officer of Hamilton Beach Brands Holding Company, said, "This acquisition is a key step in support of our strategic initiative to expand in the fast-growing home health and wellness market, and it strengthens our participation in the home medical category. Drawing on decades of experience as a trusted resource in the home, in 2021 we created the Hamilton Beach Health® brand. That same year, we entered into an exclusive multiyear agreement with HealthBeacon to market and distribute its primary product in the U.S. Given our existing partnership, we have a comprehensive understanding of HealthBeacon's business. We believe this acquisition is an attractive investment with the potential to increase shareholder value over time," said Mr. Trepp.