M&A Deal Summary

Baxter International Acquires Hill-Rom Holdings

On September 2, 2021, Baxter International, Inc. acquired medical products company Hill-Rom Holdings, Inc. for 12.4B USD

Acquisition Highlights
  • This is Baxter International’s 12th transaction in the Medical Products sector.
  • This is Baxter International’s 1st largest (disclosed) transaction.
  • This is Baxter International’s 14th transaction in the United States.
  • This is Baxter International’s 1st transaction in Illinois.

M&A Deal Summary

Date 2021-09-02
Target Hill-Rom Holdings, Inc.
Sector Medical Products
Buyer(s) Baxter International, Inc.
Deal Type Add-on Acquisition
Deal Value 12.4B USD
Advisor(s) Goldman Sachs Investment Banking Division
Bank of America Merrill Lynch (BofA Securities) (Financial)
Wachtell, Lipton, Rosen & Katz LLP (Legal)

Target

Hill-Rom Holdings, Inc.

Chicago, Illinois, United States
website
Hill-Rom manufactures and provides medical technologies and related services for the health care industry. Hill-Rom offers patient care systems, safe mobility and handling solutions, and non-invasive therapeutic products for various acute and chronic medical conditions, medical equipment rentals, surgical products, and information technology solutions. Hill-Rom was founded in 1915 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Baxter International, Inc.

Deerfield, Illinois, United States

website


Category Company
Founded 1931
SectorMedical Products
Employees50,000
Revenue 11.7B USD (2020)
DESCRIPTION
Entrance to Baxter International's corporate headquarters in Deerfield, Illinois.
Entrance to Baxter International's corporate headquarters in Deerfield, Illinois.

Baxter International develops, manufactures and markets drugs and medical products for people with a variety of medical conditions. Baxter's operations are comprised of the BioScience and Medical Products segments. The BioScience business processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions; biosurgery products; and select vaccines. The Medical Products business manufactures intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, and inhalation anesthetics. The business also provides products and services related to pharmacy compounding, drug formulation and packaging technologies. In addition, the Medical Products business provides products and services to treat end-stage renal disease, or irreversible kidney failure. Baxter International was founded in 1931 and is based in Deerfield, Illinois.


DEAL STATS #
Overall 20 of 20
Sector (Medical Products) 12 of 12
Type (Add-on Acquisition) 14 of 14
State (Illinois) 1 of 1
Country (United States) 14 of 14
Year (2021) 2 of 2
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 CryoLife - PerClot Polysaccharide Hemostatic System Certain Assets

Kennesaw, Georgia, United States

CryoLife's PerClot Polysaccharide Hemostatic System Certain Assets are indicated for use in surgical procedures (except neurological and ophthalmic) or injuries as an adjunct hemostat when control of bleeding from capillary, venous, or arteriolar vessels by pressure, ligature, and other conventional means is either ineffective or impractical. CryoLife's PerClot Polysaccharide Hemostatic System Certain Assets are based in Kennesaw, Georgia.

Buy $61M