Only a month into the new year and Hill-Rom Holdings, Inc. (NYSE: HRC) already has two acquisitions on the books, according to search results in our Healthcare Deal Database. Hill-Rom Holdings operates as a medical technology company worldwide. Its products enable earlier diagnosis and treatment, optimize surgical efficiency and accelerate patient recovery while simplifying clinical communication and shifting care closer to home.
Back on January 19, the medical device company acquired Bardy Diagnostics, Inc. for $375 million in cash, plus net operating losses valued at more than $20 million. Bardy Diagnostics was founded in 2013 and helps improve clinical management and outcomes for patients and their physicians by deploying innovative P-wave-centric ECG detection into patient-friendly technologies that result in greater patient compliance and more confident physician diagnoses.
BardyDx developed the first continuous-wear, wire-free ambulatory patch monitor that provides unparalleled signal clarity with a focus on the P-wave: the Carnation Ambulatory Monitor, or CAM patch.
The acquisition of BardyDx complements Hill-Rom’s current cardiology portfolio of cardiac stress exercise, Holter and resting electrocardiography devices. Hill-Rom expects the transaction to be dilutive to fiscal 2021 adjusted earnings by approximately $0.10 per diluted share. The deal is expected to close in Q2:21.
Then, just on Monday, February 1, Hill-Rom Holdings bought contact-free continuous monitoring technology from Israel-based digital health company EarlySense. The technology provides caregivers in the post-acute care market with a full picture of patient health, allowing for intervention at the earliest signs of patient deterioration. Hillrom will provide EarlySense a license to the technology, as EarlySense continues to develop next-generation AI-based sensing technologies specifically for the remote patient care market. This acquisition underscores Hillrom’s continued commitment to building a differentiated suite of connected solutions to improve patient outcomes and is not expected to have a material impact on the company’s fiscal 2021 financial guidance.