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Medical equipment: Baxter buys Hillrom for $ 10.5 billion

2021-09-02T14:24:58.559Z


US medical equipment maker Baxter International announced Thursday that it has bought out competitor Hillrom for $ 10.5 billion.


Baxter International announced Thursday that it would swallow its competitor Hillrom for $ 10.5 billion, in order to strengthen its offer, especially in connected health care.

Including debt, Hillrom's value is estimated at $ 12.4 billion, details a joint statement from the companies, both based in the state of Illinois (northern United States).

Baxter, a 90-year-old company that offers equipment and products for hemophilia, kidney disease and nutrition, among other things, wants to both complement its offering with Hillrom's products, which range from hospital beds and chairs electrocardiograms, and accelerate the development of digital and connected care solutions.

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"

Patients increasingly want their care at home or nearby, while hospitals and other providers increasingly use digital health technologies to expand access, improve quality and reduce costs.

" , notes Joe Almeida, CEO of Baxter, in the press release.

An operation finalized by early 2022

Baxter and Hillrom are coming together to meet the challenges of a rapidly changing healthcare industry, while creating meaningful value for all stakeholders,

” he adds.

The transaction, approved by the boards of directors of the two groups, must still be approved by the shareholders and receive the green light from the competition authorities.

Baxter expects it to be finalized by early 2022.

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The acquisition price, of $ 156 per share, represents a premium of 26% compared to the closing on July 27, the last day before the first press reports on the transaction.

On Wall Street, Baxter's stock was up 5% in early trading in the session and Hillrom's 4%.

Source: lefigaro

All business articles on 2021-09-02

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