Baxter to acquire medical technology company Hillrom for $ 10.5 billion

Baxter and Hillrom plan to strengthen digitally-enabled connected care solutions through the deal. Credit: John Schnobrich / Unsplash.

Baxter International has signed a definitive agreement to acquire medical technology company Hillrom for $ 156 per share in cash, for a total equity value of nearly $ 10.5 billion.

The deal is valued at a total business cost of nearly $ 12.4 billion, which includes the assumption of debt.

Baxter noted that Hillrom has a product portfolio and innovation pipeline that complement its assets.

The agreement will facilitate the delivery of a wide range of medical products and services to patients and physicians around the world, as well as the delivery of patient and user-centered healthcare, with the aim of improving clinical results.

The Baxter-Hillrom combination is expected to accelerate the expansion of companies towards digital and connected care solutions, which gradually help patients access hospital-level care at home or in various other care settings.

In addition, the merged companies will expand access to Hillrom’s portfolio around the world and provide financial returns to Baxter stakeholders.

The complementary product offering of the merged companies will help support patients in hospital, home and other care settings, enabling effective integration and management of health care delivery.

In addition, the combined expertise in therapeutic delivery, monitoring, blood purification, diagnostics and communication for patients and caregivers will increase opportunities for connected care.

This is expected to improve patient outcomes, workflow efficiency, and data-driven insight, as well as reduce overall healthcare spending.

Meanwhile, Baxter’s global infrastructure could help grow Hillrom’s international business.

Baxter International President and CEO José Almeida said: “Patients increasingly want to receive their care at home or near, while hospitals and other healthcare providers increasingly use healthcare technologies. digital technologies to expand access, improve quality and reduce costs.

“Baxter and Hillrom are coming together to meet the challenges of a rapidly changing global healthcare landscape, while also creating meaningful value for all the stakeholders we serve. ”

The acquisition was unanimously approved by the boards of directors of both companies.

Subject to the necessary approvals and customary closing conditions, the deal is expected to close next year.

In July, Baxter Healthcare subsidiary of Baxter International acquired certain assets related to the PerClot polysaccharide hemostatic system from CryoLife in a deal valued at $ 60.8 million.

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