Hill-Rom picks up Tridien Medical; inks $1.5B term loan; reportedly deals WatchChild

Hill-Rom Holdings (NYSE:HRC) last week released a slew of new announcements, saying it inked a $1.45 billion term loan A facility, acquired med tech firm Tridien Medical and that it’s looking to sell its WatchChild fetal monitoring system biz, according to HiStalk.

The company said in an SEC filing that it inked a $1.46 billion term loan A facility from JPMorgan Chase Bank on Sept. 21. The amount is up nearly $500 million from an earlier filing, on Sept. 8, that slated the company to enter into a $1 billion facility, according to the same filing.

On the same day it entered the new loan facility agreement, Hill-Rom said it picked up all outstanding shares of Anodyne Medical Device, which operates under the name Tridien Medical.

Coral Springs, Fla.-based Tridien Medical develops and manufactures and markets support surfaces and patient positioning devices, Hill-Rom said. The company said the acquisition “will allow the corporation to insource a significant supply chain function, and is expected to result in reduced costs and improved margins,” according to an SEC filing.

While the company is picking up Tridien, it is supposedly handing off another biz, its WatchChild fetal monitoring system division, to Perigen for an undisclosed amount, according to a report from HiStalk.

Along with the sale the 18 divisional employees under the WatchChild biz will move on to work under PeriGen, according to the report.

Hill-Rom Holdings shares have stayed mostly steady today, down 0.3% to trade at $60.61 as of 3:58 p.m. EDT.

In August, Hill-Rom saw shares tick up slightly after reporting higher-than-expected earnings for the 3rd quarter, lifting its outlook for the 4th and full fiscal year.

The Chicago-based company reported profits of $45 million, or 68¢ per share, on sales of $556 million for the 3 months ended June 30. That amounts to a 140% bottom-line gain as sales grew 47.6% compared to the same period last year.

After adjusting to exclude 1-time items, earnings per share were 81¢; Analysts on Wall Street were looking for an adjusted EPS of 76¢.

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