...Acquires Aspen Surgical
Hill-Rom, a hospital bed and equipment supplier since 1939, enhanced its existing surgical platform with the acquisition of privately-held Aspen Surgical for $400M. Aspen Surgical is a leader in surgical and specialty medical products including scalpels, operating room disposables and instruments and wound care products.
Hill-Rom's move should be a positive one as growth of the disposable medical supplies market is anticipated based on aging demographic patterns, extended insurance coverage by Affordable Care Act, and rising incidence of disease and disorders. The market is forecast to increase 4.3% annually to $47B in 2016.
"With the addition of Aspen Surgical, Hill-Rom is well positioned for growth and geographic expansion in our surgical business, particularly in the safety product segments," said John J. Greisch, President and CEO of Hill-Rom.
Source: Deanna Pogorelc, MedCity News >>Read more