Global Medtech Leader, Baxter Completes Acquisition of Hillrom
On 13th December, Baxter, a global leader in medtech industry, announced that it has completed the acquisition of Hillrom. Baxter paid USD 156.0 in cash for each outstanding share of Hillrom common stock for a purchase price of USD 10.5 billion.
On 13th December, Baxter, a global leader in medtech industry, announced that it has completed the acquisition of Hillrom. Baxter paid USD 156.0 in cash for each outstanding share of Hillrom common stock for a purchase price of USD 10.5 billion. The transaction value could reach up to USD 12.5 billion including the assumption of Hillrom's outstanding debt obligations.
The acquisition of Hillrom combines the vision of both the companies for transforming healthcare and advancing patient care worldwide. Baxter supports millions of patients each day across homes, physician offices, ambulatory care centers, and nearly every hospital department.
José (Joe) E. Almeida, Baxter's chairman, president and chief executive officer said, “The Baxter-Hillrom combination unlocks the next phase of our transformation, presenting a new wave of potential to drive greater impact for patients, clinicians, employees, shareholders and other communities we serve worldwide. Integrating our complementary capabilities introduces additional opportunities for growth across our broad geographic footprint and also creates remarkable new possibilities for connectivity with leading-edge digital health innovation focused on enhancing care, lowering costs and increasing workflow efficiency."
Baxter has plans of building on its robust global footprint, including commercial and service infrastructure and to expand legacy Hillrom and Welch Allyn products into new international markets, bringing the collective portfolio of products and services to even more patients and providers worldwide.
Mr. Almeida further added on the acquisition and said, “We are invigorated by the potential to create value for patients and customers in new ways as a combined company and we are energized by the power we bring together as one team united in our Mission to Save and Sustain Lives. We are very excited to welcome our Hillrom colleagues to Baxter."
Baxter is also planning to use its its combined expertise in connectivity technology and integration, digital health solutions, data visualization and analytics, therapy development, and monitoring and sensing to build a connected system that surrounds the patient and their care team with the help of its collective installed base of more than two million medical devices globally.
