Hill-Rom, Inc. and Tempur-Pedic Medical, Inc. Announce New Product Line
BATESVILLE, Ind., and LEXINGTON, Ky., April 13 /PRNewswire-FirstCall/ -- Physicians and other caregivers have long recognized the relationship between restful sleep and healing. Yet, often it seems the last place to find a good night's sleep is in the hospital ... the place where it is needed the most! Now, that may all change for the better as two leaders in their respective industries join forces, seeking to improve the sleep of patients across the country.
Hill-Rom, the health care operating company of Hillenbrand Industries , and the Medical Division of Tempur-Pedic North America, Inc., a subsidiary of Tempur-Pedic International, Inc. , the leading expert in comfort surfaces for consumers, announced today that they plan to offer a new line of innovative bed surfaces for acute care institutions in North America. The new line will be showcased for the first time during the April 2007 American Organization of Nurse Executives (AONE) Annual Meeting and Exposition held in Washington D.C. (April 13 - 16).
"We are excited about bringing our two companies together to create an innovative new product line to improve the sleeping comfort for patients," said Peter H. Soderberg, CEO of Hillenbrand and Hill-Rom. "Both of our companies are known for our commitment to quality and service, and have long histories of innovation. Together, we can make a difference in the way patients rest and heal by providing a line of sleep surfaces that focuses on comfort while simultaneously providing better pressure redistribution for hospitalized patients."
The two companies plan to debut a jointly branded line of premium, non- powered medical mattresses to the Hill-Rom acute care customer base. Hill-Rom would be named as the exclusive third-party distributor in North America of Tempur-Pedic medical mattresses to this acute care arena. The co-branded Hill- Rom Tempur-Pedic line would feature sleeping surfaces made specifically for Hill-Rom's market leading products such as the VersaCare(R), TotalCare(R) and Affinity(R) 4 beds, as well as CareAssist(R), stretchers and mattress replacement systems. All products would include deep top layers made of the proprietary TEMPUR(R) material.
"At our Tempur-Pedic Medical Division, our goal has always been to provide innovative surface technologies for comfort, pressure and pain management," said H. Thomas Bryant, President and CEO of Tempur-Pedic International, Inc. "The powerful combination of two brands with such high recognition in the industry is a strategy that will help to reinvent the patient care experience in acute care facilities. Together, we will ultimately help more patients find relief and comfort when they need it most."
The relationship would combine the strength of Hill-Rom's distribution, service and integrated approach to solutions with Tempur-Pedic's expertise in providing comfort. "Hospital teams are very much aware that comfort and sleep are clinical indicators," explained Paul Coulis, president of the Medical Division of Tempur-Pedic North America, Inc. "Through this relationship, we have the answer to comfort while still providing a product that helps meet clinical needs."
ABOUT HILLENBRAND INDUSTRIES, INC.
Hillenbrand Industries is organized into two operating companies serving the health care and funeral services industries.
Hill-Rom is a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, and workflow information technology solutions. Hill-Rom's comprehensive product and service offerings are used by health care providers across the health care continuum in hospitals, extended care facilities and home care settings to enhance the safety and quality of patient care.
Hill-Rom ... enhancing outcomes for patients and their caregivers.
Batesville Casket Company is a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing and other personalization and memorialization products. Batesville Casket Company ... helping families honor the lives of those they love.
ABOUT TEMPUR-PEDIC INTERNATIONAL, INC.
Tempur-Pedic International Inc. manufactures and distributes premium mattresses and pillows made from its proprietary TEMPUR(R) pressure- relieving material. It is the worldwide leader in specialty sleep, the fastest growing segment of the estimated $12 billion global mattress market. The Company is focused on developing, manufacturing and marketing advanced sleep surfaces that help improve the quality of life for people around the world. The Company's products are currently sold in over 70 countries under the TEMPUR(R) and Tempur-Pedic(R) brand names. World headquarters for Tempur-Pedic International is in Lexington, KY. For more information, visit http://www.tempurpedic.com or call 800-805-3635.
Hillenbrand Disclosure Regarding Forward-Looking Statements
Certain statements in this press release contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's future plans, objectives, beliefs, expectations, representations and projections. The Company has tried, wherever possible, to identify these forward-looking statements using words such as "intend," "anticipate," "believe," "plan," "encourage," "expect," "may," "goal," "become," "pursue," "estimate," "strategy," "will," "would," "projection," "forecast," "continue," "accelerate," "promise," "increase," "higher," "lower," "reduce," "improve," "expand," "progress," "potential" or the negative of those terms or other variations of them or by comparable terminology. The absence of such terms, however, does not mean that the statement is not forward-looking. It is important to note that forward- looking statements are not guarantees of future performance, and the Company's actual results could differ materially from those set forth in any forward- looking statements. Factors that could cause actual results to differ from forward-looking statements include but are not limited to: the Company's dependence on its relationships with several large national providers and group purchasing organizations, changes in death rates, whether the Company's new products are successful in the marketplace, changes in customers' Medicare reimbursements, the success of the implementation of the Company's enterprise resource planning system, compliance with FDA regulations, anti-trust litigation, potential exposure to product liability or other claims, failure of the Company's announced strategic initiatives and restructuring and realignment activities to achieve expected growth, efficiencies or cost reductions, disruptions in the Company's business or other adverse consequences resulting from the potential separation of the Company's two operating companies, failure of the Company to execute its acquisition and business alliance strategy through the consummation and successful integration of acquisitions or entry into joint ventures or other business alliances, competition from nontraditional sources in the funeral services business, volatility of the Company's investment portfolio, increased costs or unavailability of raw materials, labor disruptions, the ability to retain executive officers and other key personnel, and certain tax-related matters. For a more in depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended September 30, 2006. The Company assumes no obligation to update or revise any forward-looking statements.
TEMPUR-PEDIC Disclosure Regarding Forward-Looking Statements
This release contains "forward-looking statements," within the meaning of federal securities laws, which include information concerning the finalization of a definitive agreement and the related final terms, the benefits realized from the agreement and market acceptance jointly branded products. There can be no assurance that Tempur-Pedic will realize these expectations or that these beliefs will prove correct.
There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond Tempur-Pedic's control, could cause actual results to differ materially from those expressed as forward-looking statements. These risk factors include the inability to reach a final agreement and to realize the benefits of the final agreement; general economic and industry conditions and consumer confidence; consumer acceptance of jointly branded products; industry competition; the efficiency and effectiveness of the Tempur-Pedic's advertising campaigns and other marketing programs; and Tempur-Pedic's ability to continuously improve its product line, maintain efficient, timely and cost-effective production and delivery of its products Additional information concerning these and other risks and uncertainties are discussed in Tempur-Pedic's filings with the Securities and Exchange Commission, including without limitation Tempur- Pedic's annual report on Form 10-K under the headings "Special Note Regarding Forward-Looking Statements" and "Risk Factors." Any forward-looking statement speaks only as of the date on which it is made, and Tempur-Pedic undertakes no obligation to update any forward-looking statements for any reason, including to reflect events or circumstances after the date on which such statements are made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
Hillenbrand Industries, Inc.CONTACT: For Hill-Rom: Investors, Blair A. (Andy) Rieth, Jr., VicePresident, Investor Relations, Corporate Communications & Global BrandDevelopment, +1-812-931-2199, andy.rieth@hillenbrand.com, or Media, LaurenGreen-Caldwell, Director, Corporate Communications & Public Relations,+1-812-934-8692, lauren.green-caldwell@hillenbrand.com; For Tempur-Pedic:Investors, Barry A. Hytinen, Vice President, Investor Relations andFinancial Planning & Analysis, +1-859-514-4852,barry.hytinen@tempurpedic.com, or Media, Elizabeth Moore, +1-404-460-9680,elizabeth.moore@edelman.com, or John Moore +1-404-832-6452,john.moore@edelman.com