CareFusion Completes Vital Signs Acquisition In U.S., China Creates An Industry Leader in Specialty Disposables
SAN DIEGO, Dec. 31, 2013 /PRNewswire/ -- CareFusion (NYSE: CFN), a leading global medical technology company, today announced the completion of its acquisition of the Vital Signs division from GE Healthcare in the U.S., China and certain other geographies.
CareFusion agreed to purchase Vital Signs for $500 million. In connection with this first closing, CareFusion paid GE Healthcare approximately $470 million, funded through cash on hand. The balance of the purchase price will be paid upon completion of the acquisition of the remaining international operations of Vital Signs, pending regulatory review and customary closing conditions.
"The acquisition of Vital Signs doubles the size of our Specialty Disposables business and transforms it into an industry leader by adding global scale and a new call point in anesthesia," said Kieran Gallahue, chairman and CEO of CareFusion. "We are in a better position to serve customers in this large, global and growing market with a broader product portfolio and complementary expertise in respiratory and anesthesia care."
Vital Signs is a leading manufacturer of single-patient-use consumables for respiratory care and anesthesiology, a $3 billion global segment. Vital Signs has annual revenue of approximately $250 million.
About CareFusion Corporation
CareFusion (NYSE: CFN) is a global corporation serving the health care industry with products and services that help hospitals measurably improve the safety and quality of care. The company develops industry-leading technologies including Alaris® infusion pumps and IV sets, MaxPlus® and MaxZero™ IV connectors and sets, Pyxis® automated dispensing and patient identification systems, AVEA®, LTV® series and AirLife® ventilation and respiratory products, ChloraPrep® products, MedMined® services for data mining surveillance, V. Mueller® surgical instruments, and an extensive line of products that support interventional medicine. CareFusion employs approximately 15,000 people across its global operations. More information may be found at www.carefusion.com.
Cautions Concerning Forward-looking Statements
This CareFusion news release and the information contained herein contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. The matters discussed in these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. Forward looking statements include, but are not limited to, statements about the timing of the completion of the acquisition of the international operations of Vital Signs; the potential benefits and synergies of the acquisition of Vital Signs; and post acquisition plans and intentions. The forward-looking statements contained herein are based on the current expectations and assumptions of CareFusion and not on historical facts. The following important factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the satisfaction of conditions and requirements to complete the acquisition of the international operations of Vital Signs; the risk that the acquired business and operations will not be integrated successfully; and the risk that benefits and synergies from the acquisition may not be fully realized or may take longer to realize than expected. Additional factors that may affect future results are described in CareFusion's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 and Annual Report on Form 10-K for the year ended June 30, 2013. Except to the limited extent required by applicable law, CareFusion undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.