MedTech Dive September 16, 2021
When Baxter announced earlier this month plans to acquire Hillrom in an all-cash transaction valued at $10.5 billion, Wall Street was fully prepared after media reports broke the news the two companies were in talks. However, analysts initially questioned the price and strategic fit of a Baxter-Hillrom deal, the largest medtech merger so far in 2021.
Still, Baxter executives insist Hillrom offers a “highly complementary” product portfolio to its own and that Hillrom’s penetration of international markets, which is minimal to date, will benefit from Baxter’s global footprint.
Baxter CEO Joe Almeida on Sept. 2 told investors his company’s decision to buy Hillrom was an effort to expand into connected care products, whose adoption in healthcare has been accelerated by...