Hill-Rom to draw on credit facilities to help fund Mortara acquisition

By Angela McDaniels

Tacoma, Wash., Jan. 10 – Hill-Rom Holdings, Inc. plans to use borrowings under existing credit facilities and cash on hand to finance its acquisition of Mortara Instrument, Inc., according to a company news release.

The company agreed to purchase all of the issued and outstanding shares of Mortara for $330 million and expects the transaction to close this quarter.

The company expects to qualify for a tax benefit with a net present value of about $40 million, which reduces the effective purchase price to about $290 million.

Hill-Rom is a Chicago-based medical technology company. Mortara makes diagnostic cardiology and patient monitoring products and is based in Milwaukee.

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