Embecta Agrees to Buy Auto-Injector Maker Owen Mumford for Up to £150 Million

Embecta, the diabetes care company spun off from Becton, Dickinson and Co. in 2022, said on Thursday, March 19, that it has agreed to acquire Owen Mumford Holdings, a privately held UK maker of medical devices and drug-delivery technology, in a transaction valued at up to £150 million, according to the company's press release, filed with the SEC.

Embecta will pay £100 million in cash at closing, subject to customary adjustments, and up to £50 million more in performance-based payments tied to net sales of Owen Mumford's Aidaptus auto-injector platform in the three years after closing. NJBIZ put the total at about $200 million, with about $135 million up front.

Beyond insulin delivery

Owen Mumford, founded in 1952 and headquartered in Oxfordshire, designs and makes drug-delivery devices for pharmaceutical and biotech companies, including auto-injectors, and sells point-of-care testing, self-injection and pelvic health devices, Embecta said. Embecta said Owen Mumford pioneered the first plastic autoinjector.

The family-owned company had net revenue of £69.4 million in its fiscal year ended September 30, 2025, and generated about 80% of that revenue in the UK and the US, according to the release.

Embecta, based in Parsippany, New Jersey, said in May 2025 that it intends to remain an insulin injection leader while shifting toward a broad-based medical supplies company, NJBIZ reported. The release said Embecta has a commercial presence in more than 100 countries.

"This acquisition is expected to sustainably improve embecta's revenue growth trajectory and will accelerate our strategic transformation into a broad-based medical supplies company which provides drug delivery platforms to pharmaceutical companies and serves chronic care patients in the obesity, diabetes, autoimmune diseases and anaphylaxis markets," chairman, president and chief executive Devdatt Kurdikar said.

Owen Mumford managing director Gavin Jones said the company has "a 70-year track-record of developing innovative solutions with long-term growth potential."

Financing and timing

Embecta plans to pay the closing price with borrowings under its revolving credit facility. It expects the acquisition to contribute to revenue growth in fiscal 2027 and beyond, to be dilutive to adjusted net income in fiscal 2027, immaterial to it in fiscal 2028 and accretive thereafter.

The deal was unanimously approved by Embecta's board and is expected to close in the company's fiscal third quarter of 2026, subject to regulatory approvals. Embecta said it would discuss the acquisition in more detail on its fiscal second quarter earnings call on May 5.