Hill-Rom reports year-on-year growth in third quarter
7 August 2012 15:23 in Medical Company Financials
Hill-Rom has published its financial results for the third quarter of its 2012 fiscal year, reporting a six percent year-on-year increase in revenue.
The company's revenue total for the three months ending on June 30th 2012 came to $406 million (259.05 million pounds), with the improvement driven by a significant double-digit increase in international sales.
According to Hill-Rom, the economic and healthcare environments in Europe and the US are likely to remain challenging for some time, prompting the firm to take various measures to bolster its operational capabilities.
As such, the company has also announced the acquisition of Aspen Surgical, a leading provider of surgical consumable and specialty medical products focused on improving the safety of patients and healthcare professionals.
The $400 million takeover is now complete and will help to greatly strengthen Hill-Rom's surgical business in established markets.
John Greisch, president and chief executive officer of Hill-Rom, said: "We continue to implement operational improvements and are taking prudent steps to diversify our portfolio, as demonstrated by our acquisition of Aspen Surgical."
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