The transaction was completed on October 1, 2008. The transaction will be financed from existing cash balances and available lines of credit.
Upon closing, Hill-Rom expects to benefit from synergies created by combining Liko’s strong product platforms, engineering capabilities, clinical competencies and sales channel capabilities with Hill-Rom’s established brands, long standing reputation for quality products and service, and its large and established sales and service organizations in both North America and Europe.
It is intended that Liko products will continue to be marketed under the Liko name with the addition of Hill-Rom branding. The primary Liko business operations now carried out in Liko’s headquarters in Lulea and at its other locations (notably Franklin, Massachusetts in the US and locations in the UK and in Germany) will continue with only minor adjustments.
Peter Soderberg, president & CEO of Hill-Rom, said: “The addition of Liko to our Hill-Rom family represents a direct connection to Hill-Rom’s mission of enhancing outcomes for patients and their caregivers Hill-Rom has previously stated its desire to add complementary technologies to its portfolio that leverage our global business footprint and presence across the continuum of care.”