HRC - Hillrom inks agreement to buy Bardy Diagnostics for $375M in cash

Hillrom (HRC) enters an agreement to acquire Bardy Diagnostics, an innovator in digital health and a provider of ambulatory cardiac monitoring technologies.As per the terms, Hillrom will purchase BardyDx for a cash consideration of $375M and future potential payments based on the achievement of certain commercial milestones.The acquisition includes net operating losses valued at more than $20M, expected to result in future tax benefits.The company sees deal dilutive to fiscal 2021 adjusted earnings by ~$0.10/share, does not expect the transaction to have an impact on 2021 financial guidance.Hillrom to finance the acquisition through a combination of cash on hand and borrowings under existing credit facilities, and expects to close the transaction in the fiscal second quarter of 2021.

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Hillrom inks agreement to buy Bardy Diagnostics for $375M in cash