Medical technology firm Hill-Rom Holdings has agreed to acquire US-based mobile healthcare communications firm Voalte for $180m in cash.
Image: Hill-Rom has agreed to acquire mobile healthcare communications firm Voalte. Photo: courtesy of adamr / FreeDigitalPhotos.net.
The deal also includes the payment of an additional $15m to Voalte, based on the achievement of certain commercial milestones.
Hill-Rom believes that the acquired business will allow the company to enhance its leadership in care communications, in addition to advancing its digital and mobile communications platform and capabilities.
Voalte CEO Trey Lauderdale said: “Our scalable enterprise communication platform is proving to be a critical tool in the digital transformation of healthcare systems, and we look forward to further developing our platform in alignment with Hill-Rom’s vision of advancing connected care.”
Based in Sarasota of Florida, Voalte provides mobile communication platform, which enables care teams inside and outside the hospital to securely access and exchange information.
With over 84,000 devices on its mobile platform, the company is currently providing services to more than 200 healthcare customers.
As part of the deal, Voalte’s comprehensive communications platform will be integrated with Hill-Rom’s care communications business, strengthening Hill-Rom’s connected solutions that include hospital beds, vital signs monitors, LINQ mobile application.
Subject to customary closing conditions, the transaction is expected to be completed in the fiscal third quarter of this year.
Hill-Rom president and CEO John Groetelaars said: “Interoperability and connectivity have become critical elements in providing quality healthcare, reducing length of stay and driving efficiencies across the healthcare continuum.
“This transaction strategically fits with our vision of advancing connected care to improve workflow and real-time actionable insights at the point of care, while driving accelerated growth and delivering an attractive margin profile.”
In 2017, Hill-Rom acquired US-based Mortara Instrument for $330m. Based in Milwaukee of Wisconsin, Mortara Instrument is engaged in the development and manufacturing of diagnostic cardiology and patient monitoring solutions.
With more than 10,000 employees, Hill-Rom serves its customers in five core areas such as advancing mobility, wound care and prevention, patient monitoring and diagnostics, surgical safety and efficiency and respiratory health.