Welch Allyn to be Sold to International Medical Products Firm
Welch Allyn announced today that Hill-Rom Holdings will buy the Skaneateles Falls medical products firm in a deal that tops $2-Billion. Welch Allyn CEO Steve Meyer told employees today he thought it was the right company to partner with going forward. He lists as advantages more global access for the company's products.
“This transaction represents a compelling opportunity for Welch Allyn with the right partner in Hill-Rom, who appreciates our company’s special history, strengths and strategy." said Meyer in a release. "Combining with Hill-Rom will enable Welch Allyn to build on our important accomplishments over the last 100 years and play an even bigger role serving and meeting the evolving needs of patients and healthcare systems around the world. Hill-Rom and Welch Allyn share a commitment to patients and a history of delivering innovative solutions. Hill-Rom has the scale, geographic reach, experience and vision necessary to foster the next stage of growth and to ensure Welch Allyn’s continued success.”
Hill_Rom in a release touted the benefits of the combined research staff for medical products development. Hill-Rom CEO John Greisch said his firm valued the brand name of Welch Allyn and promised to keep a major presence at the Skaneateles Falls site.
“As one company, we will have the infrastructure, capabilities and innovative product portfolio to faster pursue a differentiated business model that meets the evolving needs of patients and customers and delivers superior healthcare outcomes across multiple care settings," Greisch said in the release.
The announcement also touted more opportunities for employees in the combined company, though it made no specific mention of any job impacts at the Skaneateles site. The deal is expected to be completed by September.