Hill-Rom Acquires Voalte: Analysis

Hill-Rom announced March 12, 2019 that it was in the process of acquiring Voalte for $180 million. An additional $15 million earn out was also disclosed. With annual revenue approaching $40M, the enterprise-value to revenue multiple for Voalte is a over 4.5. The acquisition is expected to close during Hill-Rom's third quarter of 2019, which ends June 30th 2019.  Voalte was rumored to be for sale since Q4 of 2018. Voalte Profile Founded by Trey Lauderdale in 2008, Voalte is located in Sarasota, Florida and currently has about 140 employees. Voalte sells perpetual software licenses, services and resells smartphones and other hardware. The name Voalte an acronym of sorts: the Vo is for “voice”, the al refers to “alarms” and the te stands for “text messaging." Voalte raised almost $70 million in equity and debt. Ascension Ventures, Bedford Capital and Cerner are past investors. Series A November 2008 $700K Series B August 2009 $1M Series C February 2014 $36M Series D April 2015 $17M Debt January 2018 $15M According to Apptopia, Voalte has 22,140 mobile app downloads per month. The company has 7 patents and 5 registered trademarks. Voalte is a very strong nursing communications tool for the acute care environment known for passionate users and champions. They have been known for their easy to learn and use user interface, excellent implementation and customer service. From the beginning, Voalte partnered with Apple to use iPhone...
Source: Medical Connectivity Consulting - Category: Information Technology Authors: Tags: Company Profiles Messaging & Orchestration Strategy & Planning Source Type: blogs