Roper Industries Announces Two Medical Acquisitions
SARASOTA, Fla., Aug. 26, 2014 /PRNewswire/ -- Roper Industries, Inc. (NYSE: ROP) today announced that it has acquired Strategic Healthcare Programs, LLC (SHP) and Innovative Product Achievements, LLC (IPA). Both companies will become part of Roper's Medical and Scientific Imaging segment.
SHP, headquartered in Santa Barbara, CA, is a leading provider of software and informatics solutions to the post-acute healthcare market. SHP delivers data-driven insight to over 3,000 post-acute organizations, such as home health, hospice and home infusion. SHP's SaaS-based analytics platform aggregates, analyzes and benchmarks clinical, financial, operational and patient satisfaction data into actionable information to enable performance measurement and improvement.
IPA, headquartered in Suwanee, GA, is the leading manufacturer of automated surgical scrub dispensing equipment for acute care hospitals and other healthcare providers. IPA's solutions increase hospital productivity and provide tangible cost savings by reducing replacement and processing costs for scrubs and linens. IPA's products are installed in over 650 hospitals throughout North America.
"We are pleased to add these two outstanding businesses to our growing Medical platform," said Brian Jellison, Roper's Chairman, President and CEO. "Both SHP and IPA have market-leading technology, excellent customer focus and terrific management teams that will remain in place. We welcome the employees of both of these companies to the Roper family."
"SHP's leading SaaS analytics platform expands our position and provides new opportunities in alternate site healthcare markets, further building on the positive momentum from last year's acquisition of Managed Health Care Associates," added Neil Hunn, Group Vice President for Roper's Medical companies. "IPA has developed an excellent reputation as a product and technology innovator, providing strong financial benefits to its hospital customers."
Including the previously announced Foodlink® software acquisition, Roper has invested $303 million in acquisitions during the third quarter. The company expects the acquisitions to be accretive to 2015 earnings.
About Roper Industries
Roper Industries is a diversified technology company and is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper provides engineered products and solutions for global niche markets, including software information networks, medical, water, energy, and transportation. Additional information about Roper is available on the company's website at www.roperind.com.
The information provided in this press release contains forward looking statements within the meaning of the federal securities laws. These forward looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth and profit expectations. Forward looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" and similar words and phrases. These statements reflect management's current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward looking statement. Such risks and uncertainties include our ability to integrate our acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
SOURCE Roper Industries, Inc.