The Wall Street Journal reported on Sunday that Baxter International Inc, a medical technology firm located in the United States, is in advanced discussions to purchase medical equipment company Hill-Rom Holdings Inc for approximately $10 billion, citing individuals familiar with the issue.
According to the article, a potential proposal might value Hill-Rom at approximately $150 per share, with a deal being achieved by midweek assuming the discussions do not go wrong. When approached by Reuters for response, Baxter and Hill-Rom did not reply. The current deal comes after Chicago-based Hill-Rom (HRC) turned down a previous offer from Baxter (BAX) to buy the firm for $144 per share in July.
Hill-stock Rom’s soared in late July when the news of the deal became public, ending Friday at $132.90. Hill-Rom has a market valuation of about $9 billion at the moment. The value of Baxter is estimated to be approximately $37 billion. Hill-Rom (HRC) has gained more than a third of its value this year, exceeding the general market.
According to the firm’s website, Hill-Rom provides services such as smart beds for patients, diagnostics, and monitoring technology.
Hillrom is a major global medical technology business with more than 10,000 workers who help people obtain better treatment both inside and outside of hospitals. Their advancements in five core areas: Advancing Mobility, Wound Care and Prevention, Patient Monitoring and Diagnostics, Surgical Safety and Efficiency, and Respiratory Health improve medical and financial outcomes while ensuring caregivers in more than 100 countries have the products they need to protect patients, speed up recoveries, and handle conditions.
Every day, they improve patient and caregiver outcomes all across the world. Hillrom can trace its medical progress roots back to 1915, when Dr. Francis Welch and William Noah Allyn founded Welch Allyn after developing the world’s first portable, direct lighting ophthalmoscope.
Since then, they have established themselves as a market leader and a reliable partner for health care providers, caregivers, and patients all around the world. They claim to provide the kind of enthusiasm, devotion, and creativity that counts when it comes to making a difference in the lives of people they work with.
With their Hillrom, Allen Medical, Liko, Mortara, Trumpf Medical, Voalte, and Welch Allyn product brands, they have a cumulative legacy of more than 450 years of invention and quality to deliver solutions that improve outcomes for patients and caregivers.
Liked this article? You might also want to read DICK’S Sporting Goods Reports its best Quarterly Sales and Earnings in 2021’s Second Quarter.