MIRA INFORM REPORT

Report No. :	506007
Report Date :	24.04.2018

IDENTIFICATION DETAILS

Name :	HILL-ROM COMPANY, INC.
Registered Office :	150 West Market Street, Suite 800, Indianapolis, In, 46204
Country :	United States
Date of Incorporation :	1975
Legal Form :	Corporation
Line of Business :	Subject is engaged in the manufacture and distribution of patient care equipment.
No. of Employees :	910

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

UNITED STATES - ECONOMIC OVERVIEW

The US has the most technologically powerful economy in the world, with a per capita GDP of $57,300. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.

In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.

Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.

The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.

Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.

The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.

Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.

In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.

In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.

In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With US GDP growth below 2%, the Fed has opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	HILL-ROM COMPANY, INC.
Trade Names:	HILL-ROM COMPANY, INC.
ID:	198112-634
Date Created:	1975
Date Incorporated:	12/22/1981
Legal Address:	150 West Market Street, Suite 800, Indianapolis, IN, 46204, USA
Operative Address:	130 E. Randolph St., Suite 1000 Chicago, IL 60601 USA
Telephone:	812-934-7777
Fax:	812-934-8329
Legal Form:	Corporation
Email:	us.customerservice@hill-rom.com
Registered in:	INDIANA
Website:	www.hill-rom.com/usa
Contact:	Mr. Jerry Kretchman - Controller
Staff:	910
Activity:	Medical Equipment Rental Companies Industry
Banks
BANK OF AMERICA
History
The company was founded in 1975.
Parent Company:	Hill-Rom Company, Inc. operates as a subsidiary of: -Hill-Rom, Inc. 130 E. Randolph St., Suite 1000 Chicago, IL 60601 USA And -Advanced Respiratory, Inc. 1020 West County Road F St. Paul, MN 55126 United States
Key developments:	Hill-Rom will officially call Chicago home after merger Ameet SachdevContact Reporter Chicago Tribune June 17, 2015, 3:31PM Hill-Rom Holdings, a maker of hospital beds and other medical equipment, has unofficially called Chicago home since 2010 when it hired a former Baxter International executive to be its CEO. John Greisch never moved to the company's headquarters in Batesville, Ind., a small town halfway between Indianapolis and Cincinnati. Hill-Rom opened an office in Chicago for him and a small team of executives and even got tax incentives from Illinois. But on Wednesday the company finally made it official, saying its headquarters will be in Chicago. The news was buried in a press release announcing its planned $2.05 billion acquisition of Welch Allyn, a privately held company based in Skaneateles, N.Y., that makes medical diagnostic devices and patient monitoring systems.
PRINCIPAL ACTIVITY
Hill-Rom Company, Inc. engages in the manufacture and distribution of patient care equipment.
Products/Services description:	The company's products and services include patient care beds, stretchers, therapeutic surfaces and devices, patient flow and workflow solutions, nurse communication systems, headwalls, and facility assessments. The company also provides asset management programs and on-demand medical equipment rental services through its services centers in the United States.
Brands:	HILL-ROM
Sales are:	Wholesale
Clients:	It serves health care facilities in the United States, the Asia-Pacific, and internationally.
Suppliers:	Plexus (Xiamen) Co.,Ltd Flextronics Electronics Technology Ametek Motors Shanghai Co.,Ltd Wistron Corporation Sunny Castors Co., Ltd. Flextronics Mfg.
Operations area:	National
The company imports from	CHINA TAIWAN SINGAPORE
The company exports to	No export found.
The subject employs	910 employees
Payments:	Regular
LOCATION
Headquarters :	130 E. Randolph St., Suite 1000 Chicago, IL 60601 USA
Comments on Address:	The address given in the order is one of the company´s branches.
Branches:	Hill-Rom Batesville, IN 1069 State Route 46 East Batesville, IN 47006 USA
Related Companies:	Hill-Rom BV Amerika Building – 7th Floor Hoogoorddreef 15 1101 BA Amsterdam The Netherlands
	Hill-Rom Holdings, Inc. 2 Prudential Plz Ste 4100 Chicago, IL, USA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	Hill-Rom Company, Inc. operates as a subsidiary of: -Hill-Rom, Inc. 130 E. Randolph St., Suite 1000 Chicago, IL 60601 USA And -Advanced Respiratory, Inc. 1020 West County Road F St. Paul, MN 55126 United States
Management:	Mr. Jerry Kretchman - Controller Mr. Bill Janzaruk - Vice President of Finance and Administration M. Gessner - Director of Purchasing Mr. Joel P. Reuter - Director of Communications
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information was provided by private sources:
USD 2015
Sales	76.242.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	Hospital bed communication and control device Publication number: 20030019038 Abstract: A communication and control device for attachment to the head end of a hospital bed for positioning a voice activated communication and control module adjacent a patient's head. Type: Application Filed: September 26, 2002 Publication date: January 30, 2003 Applicant: Hill-Rom Company, Inc. Inventors: Jeffrey R. Welling, Michael E. Poehner Hospital bed Patent number: 4097939 Abstract: A hospital bed having a primary frame and a mattress frame supported on casters through a parallelogram linkage and having locking devices for achieving Trendelenburg and reverse Trendelenburg positions. Type: Grant Filed: February 18, 1976 Date of Patent: July 4, 1978 Assignee: Hill-Rom Company, Inc. Inventors: William H. Peck, Daniel R. Tekulve Hospital bed with pivoting headboard Patent number: 4811435 Abstract: A hospital bed having a pivoted headboard that functions as a work center. The headboard can be swung to either side of the bed and locked there as well as its normal position at the head of the bed. Type: Grant Filed: January 15, 1988 Date of Patent: March 14, 1989 Assignee: Hill-Rom Company, Inc. Inventors: L. Dale Foster, Virgil J. Niese Labor grips for birthing bed Patent number: 5060327 Abstract: A birthing bed has a labor grip on each side. Each labor grip has a free end terminating in a triangular hand grip providing at least three gripping positions. The labor grip is pivotable between a vertical operative position and a horizontal storage position. Type: Grant Filed: October 18, 1990 Date of Patent: October 29, 1991 Assignee: Hill-Rom Company, Inc. Inventors: Mary A. Celestina, David W. Williams, David C. Newkirk
GOVERNMENT CONTRACTS	No records found.
CASES	Long v. Hill-Rom Company Inc Plaintiff: Maury Long Defendant: Hill-Rom Company Inc Case Number: 2:2016cv00226 Filed: February 8, 2016 Court: Alabama Northern District Court Office: Southern Office County: Jefferson Presiding Judge: R David Proctor Nature of Suit: Employment Cause of Action: 42:2000 Jury Demanded By: Plaintiff KONKLE v. HILL-ROM COMPANY, INC. Plaintiff: HEATHER KONKLE Defendant: HILL-ROM COMPANY, INC. Case Number: 4:2017cv00174 Filed: September 12, 2017 Court: Indiana Southern District Court Office: New Albany Office Referring Judge: Debra McVicker Lynch Presiding Judge: Richard L. Young Nature of Suit: Civil Rights: Jobs Cause of Action: 42:12101 The Americans with Disabilities Act Jury Demanded By: Plaintiff Scott v. Hill-Rom Company, Inc. et al Plaintiff: David Scott Defendant: Hill-Rom Company, Inc. and Devin Ross Paschal Case Number: 4:2017cv00021 Filed: February 3, 2017 Court: Georgia Northern District Court Office: Rome Office County: XX US, Outside State Presiding Judge: Harold L. Murphy Nature of Suit: Motor Vehicle Cause of Action: 28:1332 Jury Demanded By: None
TRADEMARKS	SAF-T-CHEK COMPARTMENTIZED ELECTRICAL PLUG WITH A TRANSPARENT COVER Owned by: HILL-ROM COMPANY, INC. Serial Number: 72349975 ENVIRO-CARE HOSPITAL ELECTRICAL SERVICE UNIT COMPRISING A WALL MOUNTED FRAMEWORK, ELECTRIC LIGHT FIXTURES, ELECTRICAL RECEPTACLES, SWITCHES… Owned by: HILL-ROM COMPANY, INC. Serial Number: 72446445 CORE MODULE HOSPITAL ELECTRICAL SERVICE UNIT COMPRISING A WALL MOUNTED FRAMEWORK SUPPORTING LIGHT FIXTURES, VACUUM AND GAS CONDUITS,… Owned by: HILL-ROM COMPANY, INC. Serial Number: 72446495 THE PROFILE GROUP Orthopedic Chairs Sold to Hospitals and Other Health Care Institutions Owned by: HILL-ROM COMPANY, INC. Serial Number: 73353800 MOBICARE Hospital Beds Owned by: HILL-ROM COMPANY, INC. Serial Number: 73370528
RENEWAL HISTORY	Filing History Details Filing Date Effective Date Filing Number Filing Type 11/18/2013 11/18/2013 0001083111 Business Entity Report 10/19/2015 10/19/2015 0001083112 Business Entity Report 05/01/2017 05/01/2017 0007587163 Articles of Merger 05/10/2017 05/09/2017 0007596315 Certificate of Assumed Business Name 11/07/2017 11/07/2017 0007749705 Business Entity Report
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 1975, Hill-Rom Company, Inc. is a large-sized organization in the medical equipment rental companies industry located in Batesville, IN. It has 910 full time employees and generates an estimated $76.2 million in annual revenue. The company mainly imports from China, Taiwan and Singapore. It operates nationally. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Mark
POSITION	Sales
COMMENTS	He confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Controller. He was reluctant to provide financial information.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.22
UK Pound	1	INR 92.84
Euro	1	INR 81.27
USD	1	INR 66.35

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.