From its modest beginning in 1915, when Dr. Welch and William Noah Allyn developed the world's first hand-held, direct-illuminating ophthalmoscope, the company has operated under a family culture.

Under the terms of the sale, Welch Allyn shareholders received $1.625 billion in cash and approximately 8.1 million newly-issued shares of Hill-Rom common stock.

A medical device maker will soon power down its assembly line in Beaverton as its parent company undergoes a worldwide restructuring. Welch Allyn will shift the manufacturing of patient monitoring ...