Add-on Acquisition • Medical Products

Hill-Rom Acquires Aspen Surgical

On July 25, 2012, Hill-Rom acquired medical products company Aspen Surgical from RoundTable Healthcare Management for 400M USD

Acquisition Context
  • This is Hill-Rom’s 4th transaction in the Medical Products sector.
  • This is Hill-Rom’s 2nd largest (disclosed) transaction.
  • This is Hill-Rom’s 5th transaction in the United States.
  • This is Hill-Rom’s 1st transaction in Michigan.
Investment Fate
  • Aspen Surgical was divested to a consortium of buyers in 2019.

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M&A Deal Summary

Date July 25, 2012
Target Aspen Surgical
Sector Medical Products
Buyer(s) Hill-Rom
Sellers(s) RoundTable Healthcare Management
Deal Type Add-on Acquisition
Deal Value 400M USD

Target Company

Aspen Surgical

Caledonia, Michigan, United States
Aspen Surgical is a manufacturer and marketer of both OEM and branded disposable medical products for surgical and general healthcare applications. Aspen Surgical Product's major products included surgical needles, surgical skin markers, disposable light handles, instrument guards, anti-fog solutions, and surgical accessories. Aspen Surgical was founded in 1999 and is based in Caledonia, Michigan.
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Buyer Overview 1

Buyer

Hill-Rom

Chicago, Illinois, United States

Category Company
Founded 1915
Sector Medical Products
Employees10,000
Revenue 2.9B USD (2020)
DESCRIPTION

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.


Deal Context for Buyer #
Overall 8 of 15
Sector: Medical Products 4 of 10
Type: Add-on Acquisition 7 of 13
State: Michigan 1 of 1
Country: United States 5 of 12
Year: 2012 2 of 2
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-14 Völker

Witten, Germany

Völker is a producer of premium quality long-term care beds and healthcare furnishings, primarily serving the European market. Völker boasts a strong track record of innovation, continuously producing beds that fulfill the highest regulatory requirements. In addition to its beds, Völker also provides an extensive range of bed-related accessories, such as furniture, mattresses, lamps, and steering devices as well as various customer and technical services. Völker is based in Witten, Germany.

Buy $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Trumpf Medical Systems

Charleston, South Carolina, United States

Trumpf Medical Systems, Inc. is a surgical platform provides medical products in US.

Buy $250M

Seller Profile 1

SELLER

RoundTable Healthcare Management

Lake Forest, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.9B USD
Size Large
Type Sector Focused
DESCRIPTION

RoundTable Healthcare Partners is a specialist private equity firm that targets equity and junior capital investments in the healthcare industry. Specific areas of interest include medical devices, medical products and disposables, specialty pharmaceuticals, medication delivery systems, specialty distribution, and outsourced healthcare services. RoundTable typically makes equity investments of approximately $5 to $50 million in platform companies with revenues ranging from $25 to $300 million. RoundTable will not invest in service-oriented provider segments (such as managed care companies, hospitals or nursing homes), internet or biotechnology companies, or start-up/venture situations. RoundTable was formed in 2001 and is based in Lake Forest, Illinois.


Deal Context for Seller #
Overall 7 of 24
Sector: Medical Products 4 of 13
Type: Add-on Acquisition 6 of 15
State: Michigan 1 of 1
Country: United States 6 of 23
Year: 2012 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-15 Clinical Innovations

Murray, Utah, United States

Clinical Innovations is a developer, manufacturer, and marketer of medical devices that improve healthcare outcomes for clinicians and their patients. With particular emphasis on healthcare solutions for women and their infants, Clinical Innovations employs high-quality standards in every aspect of the business to make advancements in technology and bring innovative ideas to life. Clinical Innovations is based in Murray, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-29 SCN BestCo

Santa Cruz, California, United States

SCN BestCo is a manufacturer of gummy based nutritional products and dietary supplements for consumers of all ages. Santa Cruz Nutritionals develops proprietary formulations and a unique manufacturing process that deliver active ingredients through great tasting, high quality chewable products. SCN BestCo was founded in 1968 and is based in Santa Cruz, California.

Buy -