Hill-Rom® Completes Acquisition of Trumpf Medical
Hill-Rom Holdings, Inc. (NYSE: HRC) today announced that it has completed its approximately $250 million purchase of Trumpf Medical, the medical unit of the privately held TRUMPF Group.
Puchheim, August 1, 2014 - Hill-Rom Holdings, Inc. (NYSE: HRC) today announced that it has completed its approximately $250 million purchase of Trumpf Medical, the medical unit of the privately held TRUMPF Group. The transaction closely aligns with the company’s core growth strategies as it will more than double the size of Hill-Rom’s existing surgical platform, complement and expand the Company’s global footprint and leverage existing sales channels and customer relationships to better address the needs of patients and caregivers.
Hill-Rom’s surgical portfolio already includes leading products for surgical safety and efficiency, such as Bard-Parker® scalpels, the Allen® Advance Spine Table, patient positioning accessories, surgical supplies and surgical fluids management systems. The addition of Trumpf Medical’s line of integrated operating room (OR) solutions significantly expands Hill-Rom’s surgical portfolio with market-leading OR products and positions the company to capitalize on new customer partnerships. This acquisition also strengthens the Company’s presence in higher-growth markets, including Asia/Pacific, the Middle East, Eastern Europe and Latin America.
“We are excited to officially welcome our Trumpf Medical colleagues to the Hill-Rom family,” said John J. Greisch, President and CEO of Hill-Rom. “Our companies share similar legacies of innovation, quality and employees who are passionate about enhancing outcomes for patients and caregivers. We look forward to investing in the strong reputation that the Trumpf Medical team has built by expanding the presence of their exceptional products around the world.”
As previously announced, the transaction is expected to be immediately accretive to adjusted earnings per share and add approximately $0.12 to $0.15 per share in fiscal year 2015. The transaction will be funded with a combination of cash on hand and borrowings on the Company’s existing credit facility.