Image: Hill-Rom has acquired Mortara Instrument for USD 330 million (Photo courtesy of iStock).
Hill-Rom Holdings, Inc. (Batesville, IN, USA), a provider of patient care solutions to health care providers, has signed a definitive agreement to acquire Mortara Instrument, Inc. (Milwaukee, WI, USA), a privately held company offering diagnostic cardiology and patient monitoring solutions, technologies and devices.
Hill-Rom offers patient care solutions in five core areas: advancing mobility, wound care and prevention, patient monitoring and diagnostics, surgical safety and efficiency, and respiratory health. The company’s patient care solutions include hospital beds, wound therapy systems, support surfaces and mattresses, patient handling/support systems, respiratory care products, clinical workflow solutions, and surgical equipment, among others.
Mortara's portfolio includes diagnostic cardiology devices for monitoring resting electrocardiography (ECG), cardiac stress exercise, Holter, ambulatory blood pressure, and cardiac and pulmonary rehabilitation and multiple patient parameters.
The USD 330 million cash deal is expected to enhance Hill-Rom’s presence in cardiac technology as well as allow it to offer a more comprehensive suite of continuous vital signs monitoring parameters.
"Our growing Welch Allyn franchise will be immediately strengthened by the addition of Mortara Instrument's experienced team, breadth of diagnostic cardiology and patient monitoring offerings and best-in-class ability to integrate with electronic medical record (EMR) systems," said Hill-Rom President and CEO John J. Greisch. "With Mortara, we will expand our diagnostic cardiology franchise in the acute care, clinical research and primary care settings, where we will use our global commercial presence to accelerate growth of the Mortara business. This transaction is aligned with our strategy to expand in our clinical focus areas, in this case patient diagnostics and monitoring, through the addition of complementary innovative solutions and enhanced customer offerings to deliver value for shareholders."
Mr. Greisch continued, "We look forward to welcoming the talented employees of Mortara to the Hill-Rom team. With our shared mission, global reach and complementary products, we anticipate a successful integration and rapid commercialization of new products. Together, we will offer our customers around the globe a broader range of diagnostic technologies to further our mission of improving outcomes for patients and their caregivers."
"By combining with Hill-Rom, Mortara Instrument will have greater opportunities to grow as part of a global leader with strong brand equity and unparalleled care setting expertise," said Mortara Instrument CEO Dr. Justin Mortara. "Hill-Rom and Mortara Instrument share similar patient-centric cultures, and I am confident that this combination will benefit our valued employees and customers. I look forward to working with the entire Hill-Rom team as we enter our next phase of success."