Acquisition: Hill-Rom bolsters surgical footprint with $400M buyout of Aspen Surgical
Hill-Rom closes a $400 million acquisition of Aspen Surgical Products, hoping to extend its reach in North American and European surgical markets.
The merger bolsters Hill-Rom's footprint in surgical devices with Aspen's safety scalpels and blades, fluid collection products, specialty needs and other operating room disposables and instruments.
"With the addition of Aspen Surgical, Hill-Rom is well positioned for growth and geographic expansion in our surgical business, particularly in the safety product segments," president & CEO John Greisch said in prepared remarks. "This acquisition further expands our global portfolio beyond our core franchise with a business that is immediately accretive to earnings per share and adds recurring revenue to our existing surgical platform."