Covington Associates Advises Radianse in Strategic Partnership with Hill-Rom
Boston, MA – September 2, 2009 – Covington Associates announced it acted as financial advisor to Radianse in its strategic partnership agreement with Hill-Rom (NYSE: HRC). The agreement will integrate the Radianse real-time location system (RTLS) into Hill-Rom’s NaviCare(R) Nurse Call system.
Hill-Rom, headquartered in Batesville, IN, is a manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, safe mobility and handling solutions, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, and information technology solutions.
“As a result of our collaboration with Hill-Rom, enterprise-wide location will be within the means of virtually every health care organization,” said Steve Schiefen, President and CEO for Radianse. “Together, we are working to remove the financial and technical obstacles to making RTLS an IT priority. The potential for applications that can use real-time location intelligence is unlimited, and we look forward to seeing the future unfold.”
Ben Dunn, Managing Director of Covington Associates, said, “The integration of Radianse locating technology into Hill-Rom’s NaviCare Nurse Call platform provides an enhanced platform for applications such as asset tracking, patient tracking, and real time alerts. The partnership will improve caregiver effectiveness and increase patient safety.”
Radianse provides a real-time location system (RTLS) exclusively for healthcare to safely and accurately track patients, staff and equipment to room-level. Radianse RTLS has helped more than 75 hospitals, including leading academic universities, integrated health systems and community hospitals find new ways to improve clinical effectiveness and patient satisfaction.
To learn more about Radianse, please visit www.radianse.com.
About Covington Associates LLC
Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare, and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to nearly $2 billion for both private and publicly traded companies.
To learn more about Covington Associates, visit www.covingtonassociates.com.