Aspen Surgical, a maker of everything from wound care dressings to fluid collection products and surgical instruments, has been acquired. Hill-Rom Holdings ($HRC), which is known for its hospital bed and equipment business, just completed a $400 million cash and debt deal to snatch up the company.
Hill-Rom saw Aspen Surgical as a strategic way to beef up its surgical business in the North American and European markets, the company said in a statement announcing the deal. Aspen Surgical generates $120 million in annual revenue.
Med City News notes the timely nature of the deal, which takes place as medical facilities increasingly use disposable medical supplies to combat infection.
Now that the deal is done, former Aspen Surgical CEO Greg Pritchard becomes Hill-Rom's senior vice president, as well as president of the company's surgical and respiratory care division. He said in a statement that he hopes the deal will help "expand Aspen Surgical's presence around the world."
Beyond hospital beds and equipment, Hill-Rom is known for patient support systems, medical equipment rentals, surgical products and "non-invasive therapeutic products" to manage acute and chronic medical conditions.
- read the deal announcement
- check out the MedCity News story