Tyco to expand respiratory product line

Tyco Healthcare has revealed it intends to expand its product line by acquiring an interest in Airox, a European home respiratory ventilation manufacturer.

The company will acquire 37.25 per cent of Airox’s shares for a premium of thirty per cent. Tyco said it then intends to purchase the rest of the shares for the same price, following discussions with Airox management and a net asset value audit.

Some 85 million euros are expected to comprise the total offer price for Airox, with 31.7 million euros of shares being purchased in the initial phase of the bid.

Tyco’s chief executive, Rich Meelia, said the home care ventilation market and non-invasive ventilation are sectors that represent some of the highest growth in the ventilation industry.

He remarked: “Airox is a strong and well-respected innovator in the market, with a core competency in research and development.”

“The Airox product portfolio adds to Tyco Healthcare’s existing ventilator offerings, helping us to further expand our product line, better meet customer needs and expand our global reach,” he added.

Airox is based in France and was founded in 1992. Home respiratory equipment makes up the majority of its market. It has links with other companies, including the Sanofi group, dating back to 1946.

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