Hills, maker of the iconic Hills clothes hoist, announced on Tuesday that it had entered into a conditional merger agreement to combine its HHS business with Lincor.
Hills chairman Jennifer Hill Ling said that while the company’s expanding healthcare solutions operations had the potential to become a key profit driver within Hills in coming years, “the opportunities for the healthcare business and its growth potential are much greater as part of Lincor Limited on a global basis”.
“This proposed merger reflects our determination to create significant value for shareholders.”
• The new Royal Adelaide Hospital (nRAH) - the largest and most technologically advanced hospital development in the Southern Hemisphere;
• Blacktown Hospital’s new CSB wing; and
• The new Sydney Northern Beaches Hospital.
A statement from Hills says HHS’s offerings have been implemented in over 350 healthcare facilities and over 550 aged care facilities, and Lincor Solutions has installed solutions in approximately 150 healthcare facilities across the globe including key reference sites such as the Cleveland Clinic in Abu Dhabi, Cancer Treatment Centres of America, HCA Wesley Medical Center; and over 20 National Health Service (NHS) hospitals in the UK including University College Hospital London.
If the transaction proceeds, Lincor will have a global presence directly and through its distributors in 22 countries with offices in Europe, the USA and Australia, and a significant revenue base with a high proportion of recurring revenue reflecting its Software as a Service (SaaS) platform and managed service offering.
Hills Health Solutions and Lincor Solutions have an existing commercial relationship, with Hills distributing Lincor’s patient engagement technology platform, together with its nurse call solutions, for the past two years. The two also have won recent contracts for major Australian hospitals either together or individually.