Interest in the home healthcare sector is intensifying both in the US and Europe, as shown by the latest acquisition in the business, announced this July.
Air Liquide revealed that it has entered into an agreement to purchase Gasmedi, which on completion would represent an enterprise value of €330 million ($399 million approx).
Gasmedi is a major provider of home healthcare services in Spain and the country’s third largest player in this sector. It’s 2011 revenues amounted to €82 million, up by 13 percent compared with 2010.
The company specializes in home respiratory assistance, including oxygen therapy and the treatment of sleep apnea. Gasmedi also produces and distributes medical gases to hospitals and clinics.
The announcement follows Linde’s intention to acquire Lincare Holdings in the US and before that, Linde’s purchase of Air Products’ Continental-European homecare business earlier this year. It also comes after Air Liquide revealed in June that it had begun exclusive negotiations with a view to acquiring 70.49 percent of LVL Medical Groupe SA.
Expected to be complete during Q4 (2012), the transaction for LVL Medical’s French activities is valued at around €316 million and further cements Air Liquide’s already strong position in the homecare business.
Meanwhile, the acquisition of Gasmedi is subject to the approval of the Spanish Competition Authority and is also expected to be complete in Q4.