Hillrom expands stateside with acquisition of monitoring tech to enhance digital capabilities
The acquisition terms include a cash consideration of $30 million (almost £22 million), potential payments based on the achievement of certain commercial milestones, and a portion of Hillrom’s equity investment in EarlySense.
The provider says this acquisition will enable it to deliver the monitoring technology to more customers globally. It also supports its commitment to building a differentiated suite of connected solutions to improve patient outcomes.
In a statement about the acquisition, Hillrom said it is not expected to have a material impact on the company’s fiscal 2021 financial guidance.
“Hillrom is transforming care with highly differentiated sensing and digital communication capabilities that drive improved patient safety and ensure timely, effective clinical intervention,” said Hillrom President and CEO John Groetelaars. “We look forward to bringing these critical technologies to more customers around the world as we deliver on our vision of Advancing Connected Care.”
Hillrom will provide EarlySense a license to the technology, as EarlySense continues to develop next-generation AI-based sensing technologies for the remote patient care market.
Matt Johnson, CEO of EarlySense, commented: “EarlySense technology has monitored over one million patients and helped care teams save tens of thousands of lives. Transferring this technology to Hillrom will advance our global impact in acute care settings.
“Simultaneously, we are excited to focus our future on post-acute remote patient care, which is growing dramatically and has experienced widespread acceptance and momentum in the market due to the COVID-19 pandemic.”
Hillrom integrated EarlySense’s contact-free continuous monitoring and analytics technology into the Centrella Smart+ med-surg bed and ecosystem of connected devices.
The Centrella Smart+ bed offers optimised patient safety and allows for continuous monitoring of patients’ heart and respiratory rates over 100 times per minute, without touching the patient. Hillrom says that early identification of clinical deterioration can lead to improved survival and decreased costs.
EarlySense offers contact-free, continuous monitoring solutions for the healthcare sector. The EarlySense System assists carers in early detection of potential patient adverse events including falls, pressure ulcers and hospital readmissions.
Hillrom provides a wide range of products including connected smart beds, patient lifts, patient assessment and monitoring technologies, caregiver collaboration tools and respiratory care devices.
In October, Hillrom launched a digital symposium called Completing the Picture Digital Festival, which aims to inspire, educate and share best practice for the healthcare technology and connected care sectors.https://thiis.co.uk/hillrom-expands-stateside-with-acquisition-of-monitoring-tech-to-enhance-digital-capabilities/https://i2.wp.com/thiis.co.uk/wp-content/uploads/2021/02/Hillrom-acquires-Earlysense.jpg?fit=832%2C480&ssl=1https://i2.wp.com/thiis.co.uk/wp-content/uploads/2021/02/Hillrom-acquires-Earlysense.jpg?resize=150%2C150&ssl=1Mergers & AcquisitionsNewsroomSupplier NewsTrade NewsCentrella Smart+ bed,continuous monitoring technology,Earlysense,Hillrom,Hillrom acquisition,medical devices,patient monitoringMedical device provider Hillrom has acquired contact-free continuous monitoring technology from EarlySense to enhance its digital communication offering. The acquisition terms include a cash consideration of $30 million (almost £22 million), potential payments based on the achievement of certain commercial milestones, and a portion of Hillrom's equity investment in EarlySense. The...Sarah SarsbySarah Sarsbysarah@thiis.co.ukAdministratorTHIIS Magazine