Acquisitions in homecare in Australia and South Korea

July 22, 2010

The market for homecare is growing throughout the world. Air Liquide, which ranks 1st in Europe and 3rd in the world for homecare, continues to develop its offer of services through targeted acquisitions in Australia and South Korea.

Air Liquide announces the acquisition in Australia of 70% of the company Snore Australia, a major player in the field of sleep diagnosis. These diagnoses help to identify and assess the degree of disorders in conditions such as sleep apnea. Created ten years ago, this company makes over 15,000 sleep diagnoses per year in its thirteen sleep laboratories. With 72 employees, its annual revenue amounts to €5.6 million. In Australia, it is estimated that around 480,000 people suffer from sleep apnea, of which only 25% have been diagnosed to date.

Air Liquide also announces the acquisition of 70% of Medions Homecare, the leading South-Korean company in home ventilation. Created in 1989, Medions Homecare treats around 400 patients thanks to a team of 18 people, for an annual revenue of €3 million. Air Liquide will use the acquisition of Medions Homecare as a basis for developing its home oxygen therapy and sleep apnea activities in this country of 48 million inhabitants. The market for homecare in South Korea is growing by more than 15% every year.

Pascal Vinet, Vice-President, Healthcare World Business Line and Healthcare Operations for the Group announced: "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.”


Air Liquide’s Healthcare Business

Air Liquide’s Healthcare World Business Line serves over 6,000 hospitals and 600,000 patients throughout the world. It provides gases, hygiene products and medical equipment to its hospital customers and homecare to patients in cities.
The Group’s Healthcare business made €1,824 million in revenues in 2009, 64% outside France with 8,000 employees.


Homecare

Air Liquide, which ranks 1st in Europe and 3rd in the world for homecare, provides prescription care for patients diagnosed with chronic illnesses such as COPD (chronic obstructive pulmonary disease) and sleep apnea. These homecare treatments are being developed in addition to hospital care, enabling patients to enjoy better quality of life and local authorities to reduce costs.
Homecare represents 42% of Air Liquide’s total 2009 Healthcare revenue.

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