Major homecare player, Air Liquide is 'delighted' to invest in two healthcare acquisitions located in Australia and South Korea. The projects offer combined annual revenues of approximately $8.6m.
Yesterday Air Liquide announced the acquisition of 70% of the Australian sleep diagnosis company, Snore Australia. The ten year-old company operates thirteen sleep laboratories and diagnoses over 15,000 sleep disorders every year. Snore Australia employs a 72-strong work force and generates annual revenues of $5.6m. This particular healthcare speciality is expected to burgeon as estimates gauge that around 480,000 people in Australia suffer from sleep apnea, but only 25% of these have been diagnosed.
Meanwhile, in South Korea, Air Liquide has acquired 70% of Medions Homecare; a key company which specialises in home ventilation. Founded in 1989, Medions Homecare treats approximately 400 patients, employs a staff body of 18 and generates annual revenues of €3m. Air Liquide plans to use this acquisition to develop its home oxygen therapy and sleep apnea activities in the country. Again, the homecare market in South Korea shows promise with an annual average growth rate of 15%.
Pascal Vinet, Vice President of Healthcare World Business Line and Healthcare Operations for the Group, stated, “We are delighted with this strengthened presence on the home healthcare market in Australia and with our first establishment in Korea. We are happy to welcome these new employees to the Group. These successive and targeted acquisitions in homecare are an illustration of our development strategy, which aims to extend our international network to new, high-potential markets. Healthcare is a solid and promising growth driver for Air Liquide.”