Global medical technology firm Hill-Rom Holdings has completed the acquisition of privately-held Welch Allyn, for around $2.05bn.
The deal was first announced by both firms in June this year.
Under the deal, Hill-Rom has paid $1.625bn in cash to Welch Allyn shareholders and distributed around 8.1 million newly-issued shares from its common stock.
According to Hill-Rom, The combined business will provide a wide range of novel solutions to a patient-centric, global customer base focused on quality and efficiency.
Hill-Rom Holdings president and CEO John Greisch said: "We are excited to officially welcome our 2,500 Welch Allyn colleagues to the Hill-Rom family.
"Our companies share similar legacies of innovation, quality and employees who are passionate about enhancing outcomes for patients and caregivers."
The acquired business is expected to expand Hill-Rom’s product portfolio with point of care diagnostics and testing, helping the firm to offer better patient care solutions for hospitals, physician offices and other care settings.
Welch Allyn produces medical diagnostic equipment and diversified portfolio of devices, which assess, diagnose, treat and manage a wide variety of illnesses and diseases.
The firm also manufactures physical examination instruments and accessories and EMR-connected vital signs and cardiac monitoring solutions.
Based in Skaneateles Falls of New York, the company employs around 2,600 people in 26 different countries.
Hill-Rom offers patient care solutions in areas, comprising advancing mobility, wound care and prevention, clinical workflow, surgical safety and efficiency and respiratory health.
Image: A medical halogen penlight to observe Pupillary light reflex manufactured by Welch Allyn. Photo: courtesy of Hanabishi.