Hill-Rom Holdings to buy Mortara Instrument for $330 million
The company works in diagnostic cardiology and patient monitoring solutions, technologies and devices, for $330 million in cash.
Hill-Rom anticipates the structure of the acquisition will allow the company to qualify for a significant tax benefit, which at a net present value of approximately $40 million reduces the effective purchase price to approximately $290 million.
Mortara's portfolio of diagnostic cardiology devices is designed to serve the full continuum of clinical care, from acute care to primary care and clinical research organizations.
Mortara's comprehensive range of products, operating under three brands - Mortara, Quinton and Burdick - are differentiated by industry-leading diagnostic algorithms, EMR connectivity and enhanced security features.
Based in Milwaukee with offices in Australia, Italy, Germany, the Netherlands and the United Kingdom, Mortara has more than 400 employees globally and generated approximately $115 million in revenue in 2016. ■