Baxter International Acquires Hillrom

Hillrom Acquires Bardy Diagnostics

January 19, 2021

Medical Devices

Hillrom (NYSE: HRC) agreed to acquire Bardy Diagnostics, Inc. (BardyDx) for $375 million in cash plus potential milestone payments, expanding Hillrom's digital health and ambulatory cardiac monitoring capabilities. The deal brings Hillrom a wearable ECG platform (the CAM patch), approximately $30 million in annualized revenue, and about 230 employees; Hillrom expects the acquisition to be dilutive in year one and accretive thereafter.

Hill-Rom Acquires Voalte for $180M

March 11, 2019

Healthcare Services

Hill-Rom Holdings, Inc. agreed to acquire Voalte, Inc., a Sarasota-based provider of mobile clinical communications, for $180 million in cash plus up to $15 million in commercial milestone payments. The deal adds Voalte's real-time mobile communications platform and large installed base to Hill-Rom's connected care portfolio to advance its digital and mobile communications capabilities.

Hillenbrand Acquires Milacron Holdings Corp.

November 21, 2019

Manufacturing

Hillenbrand, Inc. completed the acquisition of Milacron Holdings Corp. in a cash-and-stock transaction valued at approximately $1.9 billion, with Milacron stockholders receiving cash and Hillenbrand shares. The deal expands Hillenbrand's scale and product portfolio in plastics processing and injection molding, with expected annualized cost synergies of about $50 million within three years.

Audax Private Equity Acquires Aspen Surgical Business Unit from Hillrom

July 10, 2019

Medical Devices

Audax Private Equity has entered into a definitive agreement to acquire Aspen Surgical, a Hillrom business unit that manufactures branded and private-label single-use surgical consumables. Aspen Surgical is headquartered in Caledonia, Michigan with operations in Caledonia and Las Piedras, Puerto Rico, and employs approximately 500 people; the transaction is a divestiture of the surgical consumables business from Hillrom to Audax.

Johnson & Johnson Completes Acquisition of Abiomed

December 22, 2022

Medical Devices

Johnson & Johnson completed its acquisition of Abiomed through a tender offer and subsequent merger, for an upfront payment of $380.00 per share in cash (enterprise value ~ $16.6 billion), plus a non-tradeable contingent value right (CVR) up to $35.00 per share based on milestones. Abiomed will operate as a standalone business within Johnson & Johnson’s MedTech segment.

Hillenbrand Completes Acquisition of LINXIS Group

October 6, 2022

Industrial Services

Hillenbrand, Inc. completed its acquisition of LINXIS Group from an affiliate of IK Partners (IK VIII Fund) and additional sellers for total aggregate consideration of €596.2 million (enterprise value of ~€572 million plus cash acquired). The deal combines LINXIS’ ingredient automation and processing technologies with Hillenbrand’s food processing capabilities to deliver more comprehensive solutions and services for customers.