Hill-Rom Holdings (NYSE:HRC) yesterday said it closed its $2.05 billion cash-and-stock acquisition of Welch Allyn, sending the latter $1.63 billion in cash and some 8.1 million shares of new HRC stock. The deal leaves privately owned Welch Allyn’s shareholders owning a 13% stake in Hill-Rom.
Hill-Rom floated a $425 million debt round to help finance the buyout of Skaneateles Falls, N.Y.-based Welch Allyn. U.S. anti-trust regulators OK’d the merger in July.
“We are excited to officially welcome our 2,500 Welch Allyn colleagues to the Hill-Rom family,” Hill-Rom president & CEO John Greisch said in prepared remarks. “Our companies share similar legacies of innovation, quality and employees who are passionate about enhancing outcomes for patients and caregivers.”
Hill-Rom, which put up sales of $1.69 billion last year, forecast a 10% addition to adjusted EPS in fiscal 2016 but no impact this year.
The post Hill-Rom closes $2B Welch Allyn buy appeared first on MassDevice.
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