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Hills Holdings Ltd Acquires Australian Interactive Patient Care Businesses

Tuesday, 3 Sep 2013 08:19pm EDT 

Hills Holdings Ltd announced that it has entered into separate agreements to acquire Victorian-based Merlon Health Communications and Queensland-based HTR (Hospital Television Rentals). Merlon Healthcare Communications produces electronic systems for the healthcare and aged care industries providing design, supply, installation and maintenance services to hospitals and aged care facilities throughout Australia and New Zealand. HTR (Hospital Television Rentals) is one of Australia's supplier, installer and operator of specialist patient entertainment systems inclusive of television and telephone. The total initial consideration for the businesses is $33.5 million with additional earn outs payable subject to fiscal 2014 earnings performance. The transactions will be cash funded from Hills’ existing facilities. The purchase of HTR is effective from August 31, 2013 and the Merlon Health Communications acquisition will be completed, subject to certain customary conditions precedent, on September 30, 2013. 

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