Willkie advised Voalte, Inc. in connection with its acquisition by Hill-Rom, Inc.
Global medical technology company Hill-Rom, Inc. acquired Voalte, a pioneer and leader in real-time, mobile healthcare communications, for cash consideration of $180 million and up to an additional $15 million in payments related to the achievement of certain commercial milestones. The acquisition of Voalte accelerates Hill-Rom’s leadership in care communications and advances the company’s digital and mobile communications platform and capabilities.
Voalte was founded in 2008 on the vision of simplifying communications and improving workflows and outcomes across the healthcare system. The company, based in Sarasota, Florida, currently serves more than 200 healthcare customers with more than 84,000 devices on its unique mobile platform. With annual revenue approaching $40 million, Voalte has demonstrated a consistent track record of driving durable, double-digit revenue growth and features a steady recurring revenue stream.
Voalte’s comprehensive communications platform, which currently connects 220,000 caregivers across the healthcare enterprise, supporting voice, alarm and text communications, will be integrated with Hill-Rom’s care communications business. This combination will further strengthen Hill-Rom’s connected solutions, including smart hospital beds, vital signs monitors, the LINQ Mobile application and its evolving digital offering, to deliver better care to patients and their care teams.
Hill-Rom is a global medical technology company with more than 10,000 employees worldwide. The company partners with health care providers in more than 100 countries, across all care settings, by focusing on patient care solutions that improve clinical and economic outcomes in five core areas: Advancing Mobility, Wound Care and Prevention, Patient Monitoring and Diagnostics, Surgical Safety and Efficiency and Respiratory Health.
The Willkie team was led by partner Matthew Rizzo and associate Eric Halperin, and included partners Matthew Berger and Tiffany Lee and associate Kurt Lyn.