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Hill-Rom and TeleTracking Technologies Announce Strategic Relationship
CHICAGO, IL – April 6, 2009 – TeleTracking Technologies, Inc., and Hill-Rom (NYSE: HRC), today announced a strategic development agreement to invest in and commercialize the next generation of patient flow and nurse communication solutions designed to enhance efficiency, improve patient safety and integrate communication within the health care environment. This relationship brings together two leaders in their respective segments: Hill-Rom as the leader in nurse communications solutions and TeleTracking as the leader in patient flow solutions. The long-term agreement will support investment in integrating Hill-Rom's NaviCare® Nurse Call system with TeleTracking's leading Capacity Management Suite™ powered by TeleTrackingXT™ to deliver new, integrated value between patient flow technology and nurse communications solutions.
In addition, Hill-Rom and TeleTracking have established a joint sales and marketing arrangement to leverage the combined market reach of the two companies as they take patient flow and nurse communications solutions to market. The two companies will jointly market and sell the combined portfolios of the Capacity Management Suite powered by XT and the NaviCare Platform for Clinical Connectivity, dramatically improving coverage to hospitals.
"TeleTracking is solely committed to one aspect of health care information technology, and that's patient flow automation," stated TeleTracking President & CEO Anthony Sanzo. "The plan to integrate with Hill-Rom's NaviCare Nurse Call and its sophisticated intelligent bed capabilities provides the opportunity to exchange information between TeleTracking's real-time electronic bedboard® and patient flow technology, and Hill-Rom's nurse communication solutions. It's yet another way to drive efficient communication along the patient flow continuum."
Hill-Rom's experience in advanced nurse call systems, including more than 800 installations of staff locating technology to drive safety and efficiency, is unmatched. When coupled with TeleTracking's leadership in patient flow with more than 750 hospital clients, the two companies offer unparalleled capabilities to enhance staff efficiency and patient experience. The companies also will explore more direct integration of patient flow solutions with smart beds, nurse communications and Electronic Medical Records (EMR) technology to further streamline the health care environment. "We are leading the way toward developing new solutions that integrate health care technologies and in turn, increase the effectiveness and efficiency of caregivers. This alliance provides us new ways to meaningfully enhance outcomes for patients," said Mike Gallup, Hill-Rom's Vice President for Health Care Information Technology. "We are pleased to combine our strengths in nurse communications with those of patient flow market leader TeleTracking to take the development of patient flow applications to an exciting new level."
Integrating communication channels among all involved in patient care and patient flow helps create transparency of operational information and creates efficiencies in how hospital resources are managed. For clinicians and others in the care setting, real-time access to this information means a proactive approach to patient flow versus simply reacting to events. "For example, immediately communicating a physician's intent to discharge a patient from the bed side via the NaviCare Nurse Call system lets the housekeeping department and patient placement team know that a room will soon be available for the next patient," explained Sanzo. "Decreasing lag time for turning over a room through efficient communication helps decrease the wait time for a patient coming in through the emergency department or recovery room."
As part of the agreement, and subject to certain customary closing conditions, TeleTracking will purchase the assets of, and offer employment to the employees who currently support, Hill-Rom's NaviCare Patient Flow product line, thereby bringing the complete work flow solution into TeleTracking's software and service offerings. This will allow for each company to focus on and leverage its core competencies and support their joint commitment to pursue initiatives and opportunities that leverage their combined strengths in delivering greater value to hospital customers. The development and joint sales and marketing arrangements are not contingent upon the closing of the asset sale.
Both companies will have representatives available during HIMSS 2009, the annual conference of the Healthcare Information and Management Systems Society (HIMSS) in Chicago. Hill-Rom will be located at Booth # 503 and TeleTracking Technologies is located at Booth # 3603.
ABOUT TELETRACKING TECHNOLOGIES
TeleTracking, the 2007 & 2008 "KLAS Category Leader in Bed Management" is the world-leading provider of patient flow automation solutions with more than 750 hospital clients throughout the United States, Canada and the United Kingdom. Solely dedicated to helping hospitals improve their patient flow challenges, TeleTracking pioneered the industry in 1991 with BedTracking® and in 2000 again led the industry with the introduction of the first electronic bedboard® fundamentally changing the way hospitals manage patient flow and bed management.
Proven Concept. Proven Value. Proven Results.
www.teletracking.com
ABOUT HILL-ROM
Hill-Rom is a leading worldwide 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. 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.
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," "project," "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 group purchasing organizations, whether the Company's new products are successful in the marketplace, changes in customers' Medicare reimbursements, collections of accounts receivable, compliance with FDA regulations, antitrust litigation, potential exposure to product liability or other claims, failure of the Company's announced or future 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 recent spin-off of the funeral service business, failure to realize the anticipated benefits of the spin-off, 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, increased costs or unavailability of raw materials, adverse changes in global economic conditions or disruptions of credit markets, 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, 2008 and the Quarterly Report on Form 10-Q for the quarter ended December 31, 2008. The Company assumes no obligation to update or revise any forward-looking statements.
Media Contacts:
TeleTracking Technologies
Christopher Anderson
412-889-7344
canderson@teletracking.com
Hill-Rom
Lauren Green-Caldwell
(812) 934-8692
lauren.green-caldwell@hill-rom.com
Investor Relations Contact:
Hill-Rom
Blair (Andy) Rieth
(812) 931-2199
andy.rieth@hill-rom.com
