HILL-ROM HOLDINGS, INC. (NYSE:HRC) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05. Costs Associated with Exit or Disposal Activities.
On June 27, 2017, Vlker GmbH, a wholly-owned indirect subsidiary
of Hill-Rom Holdings, Inc. (the Corporation), and an affiliate of
CoBe Capital entered into an agreement to sell certain assets
relating to the Corporations Vlker brand portfolio, subject to
the satisfaction of customary closing conditions (the Vlker
Divestiture). The Corporation anticipates that it will incur
after tax charges of approximately $30 million relating to the
Vlker Divestiture mainly in the second half of fiscal 2017
including: (i) impairment charges of approximately $25 million
relating mainly to non-cash write-downs of long-lived assets and
working capital associated with the Vlker brand portfolio; and
(ii) transaction related costs of approximately $5 million.
Item 2.06. Material Impairments.
As noted above in Item 2.05, in connection with the Vlker
Divestiture, the Corporation anticipates that during the second
half of fiscal 2017 it will record impairment charges of
approximately $25 million relating mainly to non-cash write-downs
of long-lived assets and working capital associated with the
Vlker brand portfolio.
Item 7.01. Regulation FD Disclosure.
On June 27, 2017, the Corporation issued a press release
announcing the Vlker Divestiture. A copy of the Corporations
press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K and is incorporated by reference into this
Item 7.01.
The information contained in this Item 7.01 and in the
accompanying Exhibit 99.1 shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (the Exchange Act) or incorporated by reference in
any filing under the Exchange Act or the Securities Act of
1933, as amended, except as shall be expressly set forth by
specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 |
Press release of Hill-Rom Holdings, Inc., dated June 27,
2017 entitled Hill-Rom Announces Entry into Agreement to Divest Vlker Business |
The press release may contain hypertext links to information on
our website. The information on our website is not incorporated
by reference into this Current Report on Form 8-K and does not
constitute a part of this Current Report on Form 8-K.
Hill-Rom Holdings, Inc. ExhibitEX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 CONTACT INFORMATION Investor Relations Contact: Mary Kay Ladone,…To view the full exhibit click here About HILL-ROM HOLDINGS, INC. (NYSE:HRC)
Hill-Rom Holdings, Inc. is a global medical technology company. The Company operates through four segments: North America Patient Support Systems, International Patient Support Systems, Front Line Care and Surgical Solutions. The Company’s products and services include Patient Support Systems, Front Line Care and Surgical Solutions. The Company sells and rents its specialty frames and surfaces, and mobility solutions, as well as its clinical workflow solutions, in the United States and Canada through its North America Patient Support Systems segment, and in regions outside of the United States and Canada through its International Patient Support Systems segment. Its Front Line Care segment globally sells and rents respiratory care products, and sells medical diagnostic equipment and a diversified portfolio of devices that assess, diagnose, treat and manage a range of illnesses and diseases. Under its Surgical Solutions segment, the Company sells its surgical products globally.