by Michael Mata
Lincor Solutions and Hills Limited has announced that they have entered into a conditional merger agreement. The conditional merger agreement will combine Hills Limited’s Hills Health Solutions (HHS) with Lincor Solutions to create a new company called Lincor Limited. The new company will be listed on the Australian Securities Exchange
The shareholders of Lincor Solutions and Hills Limited will each hold about half of Lincor Limited’s shares prior to new capital being raised to provide financial flexibility, repay debt, settle transaction costs, and accelerate global growth.
Lincor Solutions is a global leader in the development and delivery of point of care patient engagement solutions for hospitals and healthcare delivery organisations. The company has installed technology in approximately 150 health care facilities across the globe, including Northeast Methodist Hospital and HCA Wesley Medical Center.
Hills Health Solutions brings together the patient care expertise of Merlon, Questek, and HTR. By integrating these technologies into a single health-technology platform, HHS enables health care managers at hospitals and aged care facilities to focus on patients.
Both companies have a strong existing commercial relationship. HHS has been distributing Lincor Solutions’ patient engagement technology platform, together with HHS’ leading nurse call solutions, since 2014. If the merger succeeds, Lincor Limited will have a global presence directly and through its distributors in 22 countries, with offices in the United States, Australia, and Europe.
Lincor Limited’s chief executive officer will be Chris Cashwell (the current CEO of Lincor Solutions), and its chief financial officer will be Gareth Turner (the current CFO of Hills Limited).
The conditional merger agreement was made possible by a strong team of advisors. Hills Limited is being advised by King & Wood Mallesons and TMT Partners, while Lincor Solutions is being advised by DLA Piper
Australia and Healthcare Growth Partners, Illinois.
Lincor Limited and its prospective board is being advised by Watson Mangioni Lawyers and PricewaterhouseCoopers, and the lead manager appointed to handle the initial public offering is Shaw and Partners.