Simpson Thacher represented JPMorgan Chase Bank, N.A. in connection with $11.4 billion of committed financing to Baxter International Inc. (NYSE: BAX) for its announced acquisition of Hillrom (NYSE: HRC). The transaction is subject to the approval of Hillrom shareholders and the satisfaction of customary closing conditions, including regulatory approvals. The transaction is expected to close by early 2022.
Baxter is a leading global medical products company. Every day, millions of patients and caregivers rely on Baxter’s leading portfolio of critical care, nutrition, renal, hospital and surgical products.
Hillrom is a global medical technology leader whose 10,000 employees have a single purpose: enhancing outcomes for patients and their caregivers by Advancing Connected Care™. Hillrom makes these outcomes possible through digital and connected care solutions and collaboration tools, including smart bed systems, patient monitoring and diagnostic technologies, respiratory health devices, advanced equipment for the surgical space and more.
The Simpson Thacher team included Patrick Ryan, William Sheehan, Dean Masuda, Roman Ibragimov and Kevin Perron (Banking and Credit); and David Azarkh and Asha Amin (Capital Markets).