European Industrial Gases Major Linde AG announces acquisition in the Air Products European Homecare Business. Deal will push the German industrial gases maker into No.2 position in the homecare respiratory market.
According to Air Products sources, the business was no longer fit with company’s core gases business, while Linde Group said that the deal will support them to expand presence in the European respiratory homecare business. Under the agreement signed between both the companies, Linde will acquire Air Products’ homecare operations in Belgium, France, Germany, Portugal and Spain with around 850 employees. Air Products Homecare business Enterprise value is about 590m Euro whereas annual sales is only 210m Euro in 2011.
Linde Acquisition states
- Enterprise value: EUR 590 m
- Annual sales: EUR 210 m
- Strategic acquisition in structural growth market
“Healthcare is one of our three strategic growth pillars. It has proven to be a stable business and builds on the mega-trend of changing demographics,” said Professor Dr Wolfgang Reitzle, Chief Executive Officer of Linde AG. “With this transaction we are expanding our competencies and scaling-up our product and service offering, delivering quality care to around 260,000 additional patients. This puts us in a very good position to continue to drive innovation and develop new services. The acquisition will improve our position in a structural growth market and will make us one of the market leaders in the European respiratory homecare business.”
Homecare Business comprises of applied medical services relating to the treatment of patients in settings other than hospitals. Respiratory services includes oxygen therapy, sleep therapy, and ventilation services. As per Linde’s 2010 financial year report, company achieved global sales of around EUR 280 m in this specific segment. While it is expected that whole completion of the transaction is subjected to approval by the antitrust authorities, relevant works council consultation and fulfillment of other usual closing terms & conditions.
Today Linde is the second largest supplier of medical gases and related services in the world.
For more information, see The Linde Group online at http://www.linde.com
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