Acton firm's parent sold for $10.5B
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Hill-Rom is located on Discovery Way in Acton.
Hill-Rom, an Indiana medical technology provider with a manufacturing division in Acton, was acquired by Baxter International Inc., a multi-international healthcare firm based in Illinois.
Baxter purchased Hill-Rom in December for $10.5 billion, or $156 for each outstanding share of Hill-Rom common stock, according to Baxter’s announcement.
Hill-Rom was founded in 1915 by Dr. Francis Welch and William Noah Allyn when they developed the world's first handheld, direct illuminating ophthalmoscope and established Welch Allyn. The company now produces a wide range of medical products such as smart hospital beds, diagnostic tools, patient monitoring devices, and healthcare furniture, according to Hill-Rom’s company website.
The acquisition of Hill-Rom was first proposed in September as a strategy to combine the capabilities of both healthcare companies while streamlining the medical products to a broader global market.
In conjunction with the acquisition, Baxter promoted its vice president and president, Giuseppe Accogli, to the newly established role of executive vice president and chief operating officer, per the announcement.
"The Baxter-Hillrom combination unlocks the next phase of our transformation, presenting a new wave of potential to drive greater impact for patients, clinicians, employees, shareholders and other communities we serve worldwide," said José Almeida, Baxter's chairman, president, and CEO.
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