Hill-Rom completes Volker takeover
16 February 2012 00:00 in Medical Company Restructures
Hill-Rom has completed its acquisition of Volker, a leading European provider of long-term and acute care bed frames, surfaces and furniture.
An $85 million (54.15 million pounds) deal has been concluded that will help Hill-Rom to strengthen its channels and product offerings both in Europe and around the world.
Volker is based in Germany and generated annual revenues of approximately $100 million in 2010, with its product portfolio having been identified as complementary to Hill-Rom's existing offering of patient support systems and related technologies.
John Greisch, president and chief executive officer of Hill-Rom, expressed confidence that the combination of the two organisations will allow it to solidify its positioning in key markets.
"This is an important milestone and will enable us to expand the presence of our exceptional products to an even greater number of patients and caregivers globally," he added.
Last month, the company reported its first-quarter financial results for 2012, highlighting a two percent rise in revenue to $381 million.
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Story collated for Zenopa by the Adfero News Agency