BATESVILLE, Ind., Dec. 16, 2011 /PRNewswire/ -- Hill-Rom
Holdings, Inc. (NYSE: HRC), a global leader in patient support
systems, today announced that it has signed a definitive agreement
to purchase Germany-based Volker
group for approximately $85 million
in cash. The closing of the transaction is subject to customary
review by regulatory authorities. Volker is a leading manufacturer
of long-term care and acute care bed frames, surfaces and furniture
in Europe and around the
world. Volker is a private company with annual revenues of
approximately $100 million in
2010.
The transaction is expected to strengthen Hill-Rom's channels
and product offerings in Europe,
and furthers Hill-Rom's objective of completing strategically
relevant and value-enhancing acquisitions. The complementary Volker
products would also further develop Hill-Rom's global portfolio,
accelerate international expansion, and leverage existing sales
channels and customer relationships. Hill-Rom anticipates the
transaction to be $0.02-0.03
accretive to earnings per share in fiscal year 2012,
excluding purchase accounting and integration costs.
"During its nearly 100-year history, Volker has established an
impressive reputation for quality and innovative design," said
John J. Greisch, President and CEO
of Hill-Rom. "Our companies share similar missions and approaches
to enhancing outcomes for patients and caregivers. We look forward
to expanding the presence of Volker's exceptional products around
the world."
"This transaction is a strategic fit for both of our companies,"
said Heinrich Volker, President and
CEO of Volker. "Hill-Rom is a global leader with the reach and
capabilities to further enable our mutual vision of transforming
healthcare with pioneering products that promote dignified care for
patients and efficiency for caregivers."
The transaction is expected to close within the first calendar
quarter of 2012.
ABOUT HILL-ROM HOLDINGS, INC.
Hill-Rom is a leading worldwide manufacturer and provider of
medical technologies and related services for the health care
industry, including patient support systems, safe mobility and
handling solutions, non-invasive therapeutic products for a variety
of acute and chronic medical conditions, medical equipment rentals,
and information technology solutions. Hill-Rom's comprehensive
product and service offerings are used by health care providers
across the health care continuum and around the world in hospitals,
extended care facilities and home care settings to enhance the
safety and quality of patient care.
Hill-Rom...enhancing outcomes for patients and their
caregivers.
www.hill-rom.com
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release contain forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, regarding the Company's future plans,
objectives, beliefs, expectations, representations and projections.
The Company has tried, wherever possible, to identify these
forward-looking statements using words such as "intend,"
"anticipate," "believe," "plan," "encourage," "expect," "may,"
"goal," "become," "pursue," "estimate," "strategy," "will,"
"projection," "forecast," "continue," "accelerate," "promise,"
"increase," "higher," "lower," "reduce," "improve," "expand,"
"progress," "potential" or the negative of those terms or other
variations of them or by comparable terminology. The absence of
such terms, however, does not mean that the statement is not
forward-looking. It is important to note that forward-looking
statements are not guarantees of future performance, and the
Company's actual results could differ materially from those set
forth in any forward-looking statements. Factors that could cause
actual results to differ from forward-looking statements include
but are not limited to: the Company's dependence on its
relationships with several large group purchasing organizations,
whether the Company's new products are successful in the
marketplace, impacts of healthcare reform, compliance with federal
healthcare programs, collections of accounts receivable, compliance
with FDA regulations, antitrust and other litigation, potential
exposure to product liability or other claims, failure of the
Company's announced or future strategic initiatives and
restructuring and realignment activities to achieve expected
growth, efficiencies or cost reductions, adverse consequences
resulting from the spin-off of the funeral services business,
failure of the Company to execute its acquisition and business
alliance strategy through the consummation and successful
integration of acquisitions or entry into joint ventures or other
business alliances, increased costs or unavailability of raw
materials, adverse changes in global economic conditions or
disruptions of credit markets, labor disruptions, the ability to
retain executive officers and other key personnel, and certain
tax-related matters. For a more in depth discussion of these and
other factors that could cause actual results to differ from those
contained in forward-looking statements, see the discussions under
the heading "Risk Factors" in the Company's previously filed most
recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q. The Company assumes no obligation to update or revise
any forward-looking statements.
SOURCE Hill-Rom Holdings, Inc.