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Article: Hillenbrand Industries Sells Medical Gas Pipeline Business Terms of Sale Undisclosed, Revenues Should Total Approximately $46 Million in Fiscal 2003.
- Article from:
- PR Newswire
- Article date:
- October 27, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hillenbrand Industries Inc. , a leader in the health care and funeral services industries, announced today it has sold its medical gas pipeline business for an undisclosed sum to Beacon Medical Products, LLC, a privately held manufacturer owned by The Riverside Company. The business resided in Hillenbrand's health care subsidiary, Hill-Rom, and it accounted for approximately $40 million of Hillenbrand's $2.1 billion fiscal year 2002 revenues. The business is expected to generate approximately $46 million in fiscal year 2003 revenues.
Hillenbrand Industries' President and Chief Executive Officer, Frederick W. Rockwood said, "While any decision affecting ...