Air Liquide: makes small acquisition in Saudi Arabia

(CercleFinance.com) - This morning Air Liquide has announced that it has made a small acquisition on the Saudi market, which the French group of industrial and medical gases entered in 2008.


The group has taken a 60% stake in the capital of the respiratory division of the Thimar Al Jazirah Company (TAC) medical group, with a 60% stake. The financial terms of the transaction were been specified.

The target is specialised in the distribution of respiratory equipment and services related to the diagnosis of sleep disorders for patients suffering from respiratory diseases (sleep apnea, ventilation, chronic respiratory insufficiency), the group said, and takes charge of over 1,400 inpatients at home. This operation also marks the development of Air Liquide's home health business in a country with high potential.

In 2016, the acquired entity's turnover exceeded 5.5 million euros. The business will subsequently operate under the Air Liquide brand of international hospitalisation, VitalAire.

With the acquisition of the respiratory division of Thimar Al Jazirah Company (TAC) in Saudi Arabia, Air Liquide enters the Home Healthcare market in the Kingdom, and expands its Healthcare activity in the Middle East.

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