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Medical equipment company Hillrom (NYSE:HRC) will acquire Breathe Technologies for $130 million.
Breathe Technologies is a developer and manufacturer of a patented wearable, non-invasive ventilation technology that supports improved patient mobility. The company is located in Irvine, California, with annual revenue of approximately $10 million.
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"The acquisition of a highly differentiated, wearable non-invasive ventilation technology provides an exciting growth platform that utilizes our direct Respiratory Care commercial channel and business model," said Hillrom CEO John Groetelaars. "This transaction represents another example of our plan to strategically deploy capital with a disciplined approach toward higher-growth and higher-margin businesses by expanding into the disruptive new category of non-invasive ventilation."
Hillrom shares were trading at $105.91 on Friday. The stock has a 52-week high of $109.18 and a 52-week low of $81.82.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.