Clinical Communications Company Voalte Acquired by Hill-Rom
Voalte, a clinical communications software vendor, is getting acquired by Hill-Rom Holdings, a global medical technology and equipment company, for $180 million.
The deal also includes $15 million in payments “related to the achievement of certain commercial milestones,” officials said in a March 11 announcement.
Voalte, headquartered in Sarasota, Fla., was founded in 2008 on the vision of simplifying communications and improving workflows and outcomes across the healthcare system. The company serves more than 200 healthcare customers with more than 84,000 devices on its mobile platform.
Its communications platform, which currently connects 220,000 caregivers across the healthcare enterprise, supporting voice, alarm and text communications, will be integrated with Hill-Rom's care communications business, officials noted. Hill-Rom's connected solutions currently include smart hospital beds, vital signs monitors, and its LINQ mobile smartphone application.
Hill-Rom expects this transaction to close during its fiscal third quarter of 2019.
“Interoperability and connectivity have become critical elements in providing quality healthcare, reducing length of stay and driving efficiencies across the healthcare continuum," John P. Groetelaars, president and CEO of Hill-Rom, said in a statement. "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.
