Hill-Rom to sell third-party rental business to Universal Hospital Services

Hill-Rom has announced the sale of its third-party rental business assets to the Minneapolis-based company Universal Hospital Services.

Under the terms of the deal Hill-Rom will divest ownership of movable medical equipment that can be rented to customers. This business generated revenue of approximately $35 million (GBP 25.04 million) during the 2017 fiscal year.

Subject to customary closing conditions, the companies expect to close the transaction during Hill-Rom's fiscal third quarter, with after-tax charges totalling approximately $20 million set to be incurred.

This sale has been agreed as part of Hill-Rom's ongoing portfolio optimisation strategy, with Universal Hospital Services purchasing the assets to strengthen its position as a prominent provider of medical equipment management and service solutions in the US.

John Greisch, president and chief executive officer of Hill-Rom, said: "We are well-positioned to redirect resources and strategic investments towards innovation, enhanced commercial capabilities, and areas of our business poised to drive accelerated growth and value in the years ahead."

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