Hill-Rom Holdings, Inc. | Understand Stock

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2021 10-K, filed Nov 12, 2021. Its latest SEC filing is a 10-K/A from Dec 23, 2021.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells connected beds and care-communication systems to hospitals and other care facilities, plus monitoring, diagnostic and surgical equipment for health care providers.

How Did They Make Money?

Patient Support Systems sells beds and related equipment; most product sales are completed when customers take ownership, while equipment requiring installation is completed after customer acceptance. Rentals and services earn revenue over their contract periods, and customer payments are due at varying times up to 90 days after invoicing, with longer terms for some customers.

revenue

Segment	Share	How money arrives
Patient Support Systems	52% FY2018: 50%
Front Line Care Sold outright	37% FY2018: 34%	Sold outright
Surgical Solutions Sold outright	11% FY2018: 16%	Sold outright

Who Were Their Customers?

Hospitals and extended-care facilities buy or rent products through Hillrom's direct sales force and distributors; patients at home can buy or rent directly. Primary-care facilities buy mainly through distributors.

Did Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2021.

Operating income, FY2021

13% of revenue

▲ +9% vs FY2020 ($367.7M, 13%)

Net income, FY2021

8% of revenue

▲ +11% vs FY2020 ($223M, 8%)

How Were They Changing?

Since the FY2021 annual report

Dec 13, 2021 Baxter completed its acquisition of Hillrom Baxter paid $156.00 in cash for each Hillrom share.

Grew. Revenue grew 10% in 4 years, from $2.7B in FY2017 to $3B in FY2021, about 2% a year.

Surgical consumables Surgical Solutions shed its consumables business: an older report lists scalpels, blades, light-handle systems, skin markers and other disposables, while the latest report describes operating-room equipment and positioning devices.

Ambulatory cardiology monitoring Front Line Care added ambulatory cardiology ECG patch monitors through the Bardy Diagnostics acquisition; the older report describes monitoring and diagnostic products without this offering.

Revenue over time

Patient Support Systems Front Line Care Surgical Solutions

$5B$2.5B$0

FY2017 FY2018 FY2019 FY2020 FY2021

Who Did They Compete With?

Competes with AMETEK, Stryker, Vocera, Electromed, Exergen, GE Healthcare, Heine Optotechnik, Rhythm Technologies, Midmark, Mindray Medical International, OMRON Healthcare, Philips, Resmed, Riester, Schiller, Draeger, Getinge, MizuhoOSI, Skytron, and Steris