Batesville Herald Tribune, Batesville, Indiana

Business

February 3, 2012

Hill-Rom signs agreement

BATESVILLE — Hill-Rom Holdings Inc. officials have signed a definitive agreement to purchase the Germany-based Völker group for approximately $85 million in cash.  The closing of the transaction is subject to customary review by regulatory authorities, reports Marylou McNally, global corporate communications vice president.

Völker is a leading manufacturer of long-term care and acute care bed frames, surfaces and furniture in Europe and around the world. It 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 Völker 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 will not have any impact on adjusted earnings per share in fiscal year 2012, but is expected to be accretive thereafter.

The transaction is expected to close within the first calendar quarter this year.

Hill-Rom officials also made an approximately $20 million acquisition of Liko France, SAS, Item SA and Liko Care AG, the distribution companies for its Liko patient mobility products in France and Switzerland.

Hill-Rom expanded its patient mobility product offering with the 2008 acquisition of Liko, A.B., a leading provider of patient lift systems. In 2010, it reorganized its regional operations to more directly serve its patients' and customers' needs.

Company officials expect the acquisition to add about $15 million of annual revenue. 

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