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Hill-Rom Reports Improved Fiscal Third Quarter Results; Updates Full-Year Guidance
Date:8/7/2014

d Latin America, offset by lower revenue in the Middle East and Europe.  Capital and rental revenue both declined an equivalent amount on a constant currency percentage basis.

-- Surgical/Respiratory Care.  Surgical/Respiratory Care revenue increased 7 percent to $66 million, due to strong results across all businesses.

-- Year to date operating cash flow was $134 million compared to $168 million in the prior year.

-- Year to date adjusted EBITDA was $194 million, compared to $223 million in the prior year.

-- As previously announced, Hill-Rom completed the acquisition of Trumpf Medical on August 1 for approximately $250 million.  The addition of Trumpf Medical's line of integrated operating room solutions more than doubles Hill-Rom's surgical portfolio with market leading operating room products.  The acquisition also strengthens the Company's geographic footprint in high-growth markets, including Asia/Pacific, the Middle East, Eastern Europe, and Latin America.

-- Hill-Rom was recently awarded multi-year contracts across several acute care product categories.  The agreements cover rental and capital products with several of the nation's leading health systems and group purchasing organizations, including Hospital Corporation of America (HCA) and HealthTrust. 

-- During the quarter, Hill-Rom launched the VitalCough® System, its new cough assist product.
The VitalCough System supplements Hill-Rom's respiratory care portfolio, broadening its range of airway clearance solutions. 

Please see the attached schedules for additional information, including condensed financial information, summary balance sheet, cash flow statement and reconciliations of GAAP to adjusted financial measures. 

For a more complete review of Hill-Rom's results, please refer to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2014.

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SOURCE Hill-Rom Holdings, Inc.
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