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Hill-Rom pays down debt using ‘strong’ free cash flow of $66 million
By Devika Patel
Knoxville, Tenn., Jan. 26 – Hill-Rom Holdings, Inc. reported “strong” free cash flow of $66 million, which supported the company’s debt paydown in the first fiscal quarter.
“Strong free cash flow enabled debt paydown of $62 million in the quarter, reducing our financial leverage to a debt to EBITDA ratio of 3.9x,” senior vice president and chief financial officer Steven J. Strobel said on the company’s fiscal first quarter earnings conference call on Friday.
Free cash flow for the quarter was $17 million or 35% higher than last year’s free cash flow.
Hill-Rom is a Chicago-based medical technology company.
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