Hill-Rom has signed a definitive agreement to acquire mobile healthcare communications provider Voalte for $180m in cash.
The agreement includes payment of up to $15m subject to achievement of certain commercial targets.
Founded in 2008, Voalte simplifies communications to enhance workflows and outcomes across the healthcare system. More than 200 customers currently use the company’s mobile platform, which links 220,000 caregivers across the healthcare industry.
The platform supports voice, alarm and text communications. Following the acquisition, it will become part of Hill-Rom’s care communications business.
The deal is expected to increase Hill-Rom’s connected solutions such as smart hospital beds, vital signs monitors and the LINQ mobile application.
Voalte CEO Trey Lauderdale said: “Bringing our companies together will allow us to offer customers a single, integrated solution, delivering actionable data from smart hospital beds, nurse call and patient monitoring technology right to a caregiver’s mobile device.”
Hill-Rom portfolio includes solutions for advancing mobility, wound care and prevention, as well as patient monitoring, diagnostics, surgical safety and respiratory health.
Hill-Rom president and CEO John Groetelaars said: “This transaction strategically fits with our vision of advancing connected care to improve workflow and real-time actionable insights at the point-of-care, while driving accelerated growth and delivering an attractive margin profile.
“We look forward to welcoming and working closely with the talented Voalte team, and benefiting from Voalte’s technology, capabilities and substantial installed customer base to enhance outcomes for patients and their caregivers.”
Subject to customary closing conditions, the acquisition is expected to be completed in the company’s fiscal third quarter of this year.