Air Liquide Acquires Thimar Al Jazirah Company's Healthcare Unit
By Anthony Shevlin
Air Liquide SA (AI.FR) has acquired the respiratory division of Thimar Al Jazirah Company in Saudi Arabia, it said Wednesday.
The French industrial gases company said that it has acquired a 60% majority stake in Thimar Al Jazirah's home healthcare division, which specializes in the distribution of respiratory equipment and sleep-disorder diagnosis services. The division generated revenue of more than 5.5 million euros ($6.62 million) in 2016, said Air Liquide.
The acquired entity has joined VitalAire, Air Liquide's global brand for home healthcare, said the French company. Air Liquide already supplies medical gases to hospitals in Saudi Arabia, and the acquisition reinforces its healthcare position in the country.
The financial details of the deal weren't made available.
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January 03, 2018 03:07 ET (08:07 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.