(Batesville, Ind.) - Batesville-based hospital equipment manufacturer Hill-Rom is paying $85 million to acquire a European company.
The cash deal is for German-based Völker Group, a leading manufacturer of long-term care and acute care bed frames, surfaces and furniture. The privately-owned company had revenues of approximately $100 million in 2010.
"During its nearly 100-year history, Völker has established an impressive reputation for quality and innovative design," said John J. Greisch, President and CEO of Hill-Rom, in a news release announcing the acquisition.
"Our companies share similar missions and approaches to enhancing outcomes for patients and caregivers. We look forward to expanding the presence of Völker's exceptional products around the world."
The move which is expected to close in the first quarter of 2012 will strengthen Hill-Rom’s presence in Europe.