History
Mortara Instrument was established in 1982 by David W. Mortara, a physicist and former vice president of engineering at Marquette Electronics, which was later acquired by GE Healthcare. [6] Initially, the company manufactured medical devices for Marquette Electronics and other firms. Over time, it transitioned to producing its own branded ECG devices, overcoming challenges in competing with larger companies like GE Healthcare and Philips in North America. [7] [4] [5] [3]
By 2000, Mortara Instrument had achieved significant growth, with revenue increasing five-fold from 2000 to 2016, reaching approximately $115 million in 2016. The company employed over 400 people globally and operated a 63,000-square-foot headquarters in Milwaukee's Bradley Woods Business Park, alongside a 64,000-square-foot manufacturing and distribution facility completed in 2016. [8]
In 2004, Mortara in collaboration with the U.S. Food and Drug Administration to create a Digital ECG Warehouse for research purposes to analyze treatment groups. [9] [10] [11] [12]
In 2013, Mortara Instrument acquired the Quinton and Burdick brands from Opko's Cardiac Science, expanding its portfolio of diagnostic cardiology devices. The company focused on innovation, including advanced diagnostic algorithms and electronic medical record (EMR) connectivity. [13] [14] [15]
On January 10, 2017, Hill-Rom Holdings, Inc., announced a definitive agreement to acquire Mortara Instrument for $330 million in cash, with a tax benefit reducing the effective purchase price to approximately $290 million. The acquisition was completed on February 14, 2017, and Mortara's operations were integrated into Hill-Rom's Front Line Care division, alongside the Welch Allyn franchise, which Hill-Rom had acquired in 2015. [2] [16]
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