The FDA issued a notice today labeling the recall of the Baxter (NYSE:BAX) Volara lung therapy system as Class I, the most serious kind. Earlier this month, Baxter announced that it issued an urgent medical device correction for its Volara system for oscillation and lung expansion (OLE) therapy. To date, there has been one complaint […]
Hillrom
Baxter completes $12.5B acquisition of Hillrom
Baxter (NYSE:BAX) announced today that it completed its previously announced $12.5 billion acquisition of Hillrom (NYSE:HRC). Deerfield, Illinois–based Baxter paid $156 in cash for each outstanding share of Hillrom common stock, totaling a purchase price of $10.5 billion. Adding in the assumption of Hillrom’s outstanding debt obligations, the transaction’s enterprise value comes to approximately $12.5 […]
Baxter, 3M, Abbott near the top of Newsweek’s most responsible companies list
Several medtech, healthcare and life sciences companies, including big names like Abbott (NYSE:ABT), 3M (NYSE:MMM) and Baxter (NYSE:BAX), are among the 500 “most responsible,” according to Newsweek. The outlet published its “America’s Most Responsible Companies 2022” list, marking the third installment of the compilation (in partnership with Statista), this time expanded to include 500 of […]
Medtech M&A: The industry’s biggest mergers and acquisitions of 2021
Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more. Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired. Here are the 10 biggest mergers and acquisitions in medtech in […]
Hillrom posts Street-beating Q4 as Baxter merger remains on track
Hillrom (NYSE:HRC) shares were relatively unmoved on fourth-quarter results that finished well ahead of the consensus forecast. The Chicago-based connected care technology developer posted profits of $53.4 million, or 80¢ per share, on sales of $797.9 million for the three months ended Sept. 30, 2021, for a 25.9% bottom-line gain on sales growth of 13.1%. […]
Hillrom’s business outlook is better-than-expected as Baxter prepares to acquire
Analysts are pleased with Hillrom’s (NYSE:HRC) position following a proxy statement last week as it nears its merger with Baxter (NYSE:BAX). Baxter announced last month that it agreed to buy Hillrom for approximately $12.4 billion, with Hillrom shareholders set to receive $156 per common stock share as the company will survive the merger as a […]
Baxter to acquire Hillrom for $12.4B
Baxter (NYSE:BAX) announced today that it entered into a definitive agreement to acquire Hillrom (NYSE:HRC) for approximately $12.4 billion. Rumblings of a potential deal surfaced earlier this week, leading to a massive rise for Hillrom’s stock. The expectation was that the companies would reach a deal by midweek so long as talks didn’t fall apart. Those […]
Hillrom stock skyrockets amid reports that Baxter is close to acquisition
Baxter (NYSE:BAX) is reportedly in advanced talks to acquire Hillrom (NYSE:HRC) for approximately $10 billion. The Wall Street Journal reported yesterday that the talks were ongoing at an advanced stage. WSH previously reported on rumblings of a potential deal last month. Hillrom’s stock shot up when that report came out, and it’s rising again today, […]
MedTech 100 roundup: Industry climbs with earnings season in full swing
Better-than-expected quarterly earnings are providing a further boost to medtech industry stocks. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark […]
Hillrom beats The Street in Q3, raises guidance
Hillrom (NYSE: HRC) shares slightly dipped today on third-quarter results that beat the consensus forecast. The Chicago-based company posted profits of $49.2 million, or 74¢ per share, on sales of $717.7 million for the three months ended June 30, 2021, for a -47.6% bottom-line slide on a sales decline of -6.5%. Adjusted to exclude one-time […]
Hillrom stock shoots up on news of potential acquisition by Baxter
Hillrom (NYSE: HRC) stock rocketed today after a Wall Street Journal report that Baxter (NYSE: BAX) is in the early stages of talks to acquire the company. WSJ cited people familiar with the matter, who added that there was no guarantee the two companies will reach an agreement. HRC shares are up 8.7% to $134.49 […]
