The companies say that their complementary products will offer support to patients in the hospital, at home, and at care sites.
Baxter, the medical products company, came up with a new announcement this week. It would acquire Hill Rom, which is a connected care and a collaboration tool vendor. This acquisition has the goal to expand connected care with digital features. However, it will expand its care beyond hospital settings which will offer a broad array of services to both patients and clinicians.
Baxter and Hill Rom share a common vision for the transformation of healthcare. It aims to serve better to all patients and providers.
As the organization thinks the product of this company will support patients in hospital and at home. Also, the products will tend to help patients in alternate sites of care.
Besides that, Baxter and Hillton’s combined portfolio will offer a lot of services. It also includes therapeutic delivery, blood purification, monitoring, diagnosis, and communication, etc.
An increasing number of patients want to receive their care at home or any nearby place. On the other hand, hospitals and other care providers are using digital health technologies to expand their access to better quality and lower costs.
Baxter is about to pay $156 cash for each of the shares of Hill Rom common stock, with a total purchase price of $10.5 billion. It will also assume the outstanding debt of Hill Rom and cash for a total enterprise value worth $12.4 billion.
The transaction will close near early 2022. This deal will help Hillrom to transform into a medical technology leader with a much impressive portfolio with connected care.
Baxter is the ideal partner for them to propel the growth of their global reach. It is also helping them to understand their true potential of vision to accelerate medical innovation around the globe.
This announcement follows a string of purchases that Hillrom has made in the past few years. In 2019 it also bought Voalte, a communication tool vendor, at the price of $180 million.