Multinational healthcare company Baxter announced in a release that it acquired Hillrom, which offers a portfolio of diagnostic, critical care, nutrition, kidney care, hospital, and surgical products.

According to the release, Baxter paid $156 in cash per share of Hillrom common stock for a total purchase price of $10.5 billion based on Hillrom share counts at closing. The total enterprise value was approximately $12.5 billion including Hillrom’s outstanding debt assumptions.

Baxter’s chairman, president and chief executive officer Jose (Joe) E. Almeida said that the Baxter-Hillrom acquisition will allow the company a new wave of potential to drive greater impact for those served worldwide by the two previously separate enterprises.

 “Integrating our complementary capabilities introduces additional opportunities for growth across our broad geographic footprint,” Almeida said. “It also creates remarkable new possibilities for connectivity with leading-edge digital health innovation focused on enhancing care, lowering costs and increasing workflow efficiency.”

Read the full article at Yahoo! News.