Air Liquide buys two Swiss companies

Air Liquide, the French specialist in gases, technologies and services for industry and health, has acquired two Swiss healthcare companies Sleep & Health and Megamed. Financial terms have not been disclosed.

Founded in 2003, Marly-based Sleep & Health offers home healthcare services for patients who suffer from sleep apnoea. Cham-based Megamed specialises in ventilation and support for patients who suffer from respiratory failure.

“We are happy to welcome the teams from Sleep & Health and from Megamed to the Air Liquide Group. Their expertise and their knowledge of the Swiss market, combined with the expertise of Air Liquide, will allow us to better address the needs of patients and healthcare professionals alike,” said François Jackow, member of the Air Liquide Group’s executive committee, supervising healthcare activities. “With these acquisitions, Air Liquide is pursuing the development of its home healthcare business in the Swiss market, which shows high potential. These acquisitions, which strengthen our positioning in a growing European market, are consistent with our development strategy in the health activity.”

Air Liquide has said that it intends to build on the quality of existing teams to pursue the development of their business activities. Via its Swiss subsidiary Carbagas, Air Liquide supplies medical gas to both hospitals and patients at home. In a statement the group said that the two acquisitions reinforce and diversify its home healthcare offering, and enable Air Liquide to directly serve more than 3,000 new patients.

Air Liquide’s full year figures are out next week. Consensus analyst recommendations for the group are “outperform” according to Reuters. Its shares were last seen at €106.40 (US$121.31).