Mobile technology company Hill-Rom Holdings, Inc., today announced it has acquired Voalte, a Sarasota, FL-based real-time, mobile healthcare communications for $180 million in cash and up to an additional $15 million in payments related to the achievement of certain commercial milestones. For the Hill-Rom, the acquisition will accelerate its capabilities in clinical communication.
Founded in 2008, Voalte develops smartphone solutions that simplify caregiver communication. Ranked number-one and named 2017 Category Leader in the Best in KLAS: Software & Services report for the Secure Communications Platform segment, Voalte is the only company to offer a comprehensive Mobile Communication Strategy that enables care teams inside and outside the hospital to access and exchange information securely.
Voalte 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’s comprehensive communications platform currently connects 220,000 caregivers across the healthcare enterprise, supporting voice, alarm and text communications.
Hill-Rom’s Acquisition Plans for Voalte
Once the acquisition is closed, Hill-Rom plans to integrate Voalte’s communication platform 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.
“Our scalable enterprise communication platform is proving to be a critical tool in the digital transformation of healthcare systems, and we look forward to further developing our platform in alignment with Hill-Rom’s vision of advancing connected care,” said Trey Lauderdale, CEO of Voalte. “Bringing our companies together will allow us to offer customers a single, integrated solution – delivering actionable data from smart hospital beds, nurse call and patient monitoring technology right to a caregiver’s mobile device.”
Hill-Rom expects this acquisition to close during its fiscal third quarter of 2019, subject to customary closing conditions.