Hill-Rom Holdings Inc. (NYSE: HRC) has closed on its $2 billion merger with Welch Allyn Inc. The deal also completes the move of the company’s headquarters from Batesville to Chicago.
The manufacturer says it will still have major operations in Batesville, where it had been headquartered for more than 85 years. Many of Hill-Rom’s top executives have worked out of Illinois for years, including President John Greisch, who will lead the combined operation.
When the merger was announced, the company said annual savings would be $40 million. The combined company will have more than 10,000 employees. The majority of the deal, $1.625 billion, is in cash.