Hill-Rom Holdings, a global healthcare technologies company, has completed the $400 million purchase of privately held Aspen Surgical Products, a Caledonia, Mich.-based provider of surgical consumable and specialty medical products.
Aspen’s product lines include Bard-Parker conventional and safety scalpels and blades, Colby fluid collection products, Richard-Allan specialty needles and a variety of other operating room disposables, instrument care products and wound care dressings. T
The acquisition of Aspen Surgical further develops Hill-Rom's surgical business, adding a portfolio of consumable products and expanding its position in North American and European surgical markets.
"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.
Aspen Surgical has annual revenue of approximately $120 million. The transaction is expected to be accretive approximately $0.02 to fiscal year 2012 earnings per share, excluding non-recurring purchase accounting items and other acquisition and integration related costs.
"Aspen Surgical and Hill-Rom share a similar mission to enhance outcomes with products that help ensure a safe environment in surgical and other health care settings," added Greg Pritchard, formerly CEO of Aspen Surgical and now senior vice president and president, surgical and respiratory care, Hill-Rom. "We look forward to leveraging the valued Hill-Rom brand to expand Aspen Surgical's presence around the world."