
Hillrom faces lawsuit after dropping planned $375M Bardy Diagnostics deal
Hillrom axed plans to acquire cardiac monitoring company Bardy Diagnostics over reimbursement changes by a Medicare contractor. Bardy filed suit against Hillrom on Sunday.
Hillrom axed plans to acquire cardiac monitoring company Bardy Diagnostics over reimbursement changes by a Medicare contractor. Bardy filed suit against Hillrom on Sunday.
The acquisition price was $180 million in upfront cash with a potential $15 million additional payment, dependent on meeting certain commercial milestones.
The majority of the funding came from hospital bed manufacturer Hill-Rom and Wells Fargo Strategic Capital, the venture capital and growth equity investment arm of Wells Fargo & Company.
The sale, announced Tuesday, will allow PeriGen to apply its clinical decision support and artificial intelligence to the WatchChild obstetrics device and offer an integrated product. It also allows Hill-Rom to shed a product that doesn't quite fit its core mission.
The vest gathers patients’ airway clearance therapy session information, such as how many minutes the session lasted, duration of cough pauses, frequency settings and transmits it to the portal where physicians can see the data.