BD and Apax Partners launch respiratory joint venture Vyaire Medical

BD has announced the launch of Vyaire Medical, a standalone global respiratory solutions company, as part of a joint venture with Apax Partners, a global private equity firm.

The company has sold off a 50.1 percent sake in its respiratory solutions business to funds advised by Apax Partners as part of this initiative. The new Vyaire Medical includes all business lines within BD's respiratory solutions business, including ventilation, respiratory diagnostics, vital signs and AirLife.

With an estimated annual revenue exceeding $800 million (641.99 million pounds), the new business will be led by chief executive officer Dave Mowry, who can boast more than 25 years of leadership experience within the medical device industry.

BD's respiratory solutions facilities will also be transferred to the new company, including locations in California, Minnesota, Mexico, Brazil, Germany and China. The new company will employ more than 5,000 people around the world.

Tom Polen, executive vice-president and president of BD's medical segment, said: "We look forward to the continued partnership with Apax Partners through this joint venture, and to seeing the even greater impact that Vyaire Medical will have on customers and patients as a fully focused respiratory care company."

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