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Hill-Rom to buy privately held digital healthcare company for up to $195M

Medical-device maker Hill-Rom Holdings Inc. agreed to buy privately held Voalte Inc. for $180 million in cash plus up to $15 million in milestone-related payments.

Sarasota, Fla.-based Voalte offers mobile-based software applications that connect caregivers through voice, alarm and text communications. The company has annual revenue of about $40 million and serves more than 200 healthcare customers.

Hill-Rom plans to integrate Voalte with its care communications business, which offers smart hospital beds, vital signs monitors and Linq mobile app that connects caregivers.

Chicago, Ill.-based Hill-Rom said it expects to close the deal during its fiscal third quarter of 2019, subject to customary closing conditions.

The transaction is expected to be dilutive to the company's fiscal 2019 adjusted EPS and add to earnings in fiscal 2020 and beyond. The company added that it does not expect the deal to have a material impact on its fiscal 2019 adjusted earnings outlook.