CHICAGO, March 11, 2019 /PRNewswire/ -- Hill-Rom
Holdings, Inc. (NYSE: HRC), today announced that it has entered
into a definitive agreement to acquire Voalte, Inc., a pioneer and
leader in real-time, mobile healthcare communications, for a cash
consideration of $180 million and up
to an additional $15 million in
payments related to the achievement of certain commercial
milestones. The acquisition of Voalte accelerates Hill-Rom's
leadership in care communications and advances the company's
digital and mobile communications platform and capabilities.
Voalte was founded in 2008 on the vision of simplifying
communications and improving workflows and outcomes across the
healthcare system. The company, based in Sarasota, Florida, currently serves more than
200 healthcare customers with more than 84,000 devices on its
unique mobile platform. With annual revenue approaching
$40 million, Voalte has demonstrated
a consistent track record of driving durable, double-digit revenue
growth and features a steady recurring revenue stream. Voalte's
comprehensive communications platform, which currently connects
220,000 caregivers across the healthcare enterprise, supporting
voice, alarm and text communications, will be integrated with
Hill-Rom's care communications business. This combination will
further strengthen Hill-Rom's connected solutions, including smart
hospital beds, vital signs monitors, the LINQ™ mobile
application and its evolving digital offering, to deliver better
care to patients and their care teams.
"Interoperability and connectivity have become critical elements
in providing quality healthcare, reducing length of stay and
driving efficiencies across the healthcare continuum," said
John P. Groetelaars, president and
CEO of Hill-Rom. "This transaction strategically fits with our
vision of advancing connected care to improve workflow and
real-time actionable insights at the point of care, while driving
accelerated growth and delivering an attractive margin profile. We
look forward to welcoming and working closely with the talented
Voalte team, and benefiting from Voalte's technology, capabilities
and substantial installed customer base to enhance outcomes for
patients and their caregivers."
"Our scalable enterprise communication platform is proving to be
a critical tool in the digital transformation of healthcare
systems, and we look forward to further developing our platform in
alignment with Hill-Rom's vision of advancing connected care," said
Trey Lauderdale, CEO of Voalte.
"Bringing our companies together will allow us to offer customers a
single, integrated solution – delivering actionable data from smart
hospital beds, nurse call and patient monitoring technology right
to a caregiver's mobile device."
Hill-Rom expects this transaction to close during its fiscal
third quarter of 2019, subject to customary closing conditions. The
transaction is expected to be modestly dilutive to adjusted
earnings per diluted share in fiscal 2019, and increasingly
accretive in fiscal 2020 and beyond. The company expects to absorb
the dilutive impact in 2019, and does not expect the transaction to
have a material impact on its fiscal 2019 adjusted earnings
guidance. The company will provide additional information on its
fiscal second quarter earnings conference call.
About Hill-Rom Holdings, Inc.
Hill-Rom is a leading
global medical technology company with more than 10,000 employees
worldwide. We partner with health care providers in more than 100
countries, across all care settings, by focusing on patient care
solutions that improve clinical and economic outcomes in five core
areas: Advancing Mobility, Wound Care and Prevention, Patient
Monitoring and Diagnostics, Surgical Safety and Efficiency and
Respiratory Health. Our innovations ensure caregivers have the
products they need to help diagnose, treat and protect their
patients; speed up recoveries; and manage conditions. Every day,
around the world, we enhance outcomes for patients and their
caregivers. Learn more at hill-rom.com.
About Voalte, Inc.
Voalte develops smartphone solutions that simplify caregiver
communication. Voalte offers a leading mobile communication
platform that enables care teams inside and outside the hospital to
access and exchange information securely. Founded in 2008, Voalte
is a privately held company based in Sarasota, Florida. Voalte solutions are now
available to more than 220,000 caregivers throughout the United States. For more information,
visit voalte.com or follow Voalte on
Twitter.
Disclosure Regarding Forward-Looking
Statements
Certain statements herein 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.
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. For a more in-depth discussion of 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, unless required by law.
CONTACT INFORMATION
Investor
Relations
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Contact:
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Mary Kay Ladone,
Senior Vice President,
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Corporate
Development, Strategy and Investor Relations
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Phone:
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312-819-9387
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Email:
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MaryKay.Ladone@hill-rom.com
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Media
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Contact:
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Howard Karesh, Vice
President, Corporate Communications
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Phone:
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312-819-7268
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Email:
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Howard.Karesh@hill-rom.com
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SOURCE Hill-Rom Holdings, Inc.