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Hillrom (HRC) reported strong financial results for Q4 and fiscal year 2021, with GAAP earnings per diluted share at $0.80, a 27% increase from the previous year. Adjusted earnings rose 43% to $1.67, exceeding guidance. Total revenue reached $798 million for Q4, a 13% increase, driven by growth in all business segments. For 2021, revenue was $3.02 billion, up 5%. The company announced a pending merger with Baxter for $156.00 per share, anticipated to close early 2022. No guidance is provided for 2022 due to this transaction.
Hillrom (NYSE: HRC) has declared a quarterly dividend of $0.24 per share, payable on December 31, 2021, to shareholders of record as of December 15, 2021. This brings the annual dividend rate to $0.96 per share. Hillrom is focused on enhancing healthcare outcomes through innovative technologies that benefit over 7 million patients daily, supporting earlier diagnosis and recovery. The company is committed to advancing connected care and improving patient and caregiver experiences worldwide.
Baxter International has announced its acquisition of Hillrom for $156.00 per share, totaling $10.5 billion in cash. This strategic move aims to enhance access to care and accelerate digital health solutions globally. The acquisition is expected to generate approximately $250 million in annual pre-tax cost synergies by year three, with a positive impact on Baxter's adjusted earnings per share (EPS) projected to exceed 20% by year three. Both companies' boards have unanimously approved the deal, which is set to close by early 2022.
SV Health Investors, a global healthcare investment firm, announced significant realizations from its growth equity portfolio. HillRom acquired Bardy Diagnostics on August 6, enhancing its ambulatory cardiac monitoring services. Healthify agreed to be acquired by WellSky, focusing on integrating social services into healthcare. Additionally, Bioventus announced a cash and stock deal to acquire Misonix, a company supported by SV since 2017. SV's initiatives align with its strategy of driving growth and enhancing patient access while managing $2.6B in assets.
Hillrom announced its fiscal Q3 2021 results, reporting GAAP earnings of $0.74 per diluted share, down from $1.40 YOY. Adjusted earnings were $1.38, exceeding the guidance of $1.32 to $1.36. Revenue for the quarter was $718 million, a 6% decline, but up 13% excluding last year's COVID-related revenue. Patient Support Systems revenue fell 16%, while Front Line Care grew by 6%. The company raised its full-year guidance, expecting revenue growth of 3% to 4% and adjusted earnings of $6.08 to $6.12 per share. Hillrom also highlighted significant product innovations and share repurchase plans.
Hillrom (NYSE: HRC) has launched the Helion™ Integrated Surgical System in the U.S., advancing its Connected Care™ initiative in operating rooms. The system enhances connectivity, flexibility, and communication for surgical teams, improving patient outcomes. Following the acquisition of Videomed in 2020, the Helion System now operates in approximately 20 countries. It features zero-latency imaging and user-friendly controls, facilitating efficient management of OR equipment and seamless access to patient data.
Hillrom (NYSE: HRC) announced that the Delaware Court of Chancery ordered the company to proceed with its acquisition of Bardy Diagnostics, Inc., denying Hillrom's claim of a Material Adverse Event under the acquisition agreement. Hillrom intends to appeal this ruling to the Delaware Supreme Court. The company stated that this decision does not materially impact its 2021 financial guidance. Hillrom previously informed BardyDx of a 'Company Material Adverse Effect' due to updated Medicare reimbursement rates. Hillrom remains committed to enhancing shareholder value amidst these developments.
Hillrom (NYSE: HRC) has declared a fourth-quarter dividend of $0.24 per share, payable on September 30, 2021. Shareholders of record by the close of business on September 17, 2021 will receive this dividend. The annualized dividend rate is set at $0.96 per share. Hillrom, a leader in medical technology, focuses on enhancing patient outcomes through innovative solutions, impacting over 7 million patients daily worldwide.
