PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide (Paris:AI):
TAC is a leading actor in the pharmaceutical, medical and dental industries within the Kingdom of Saudi Arabia (KSA). Acquired through a majority equity stake (60%), the TAC Home Healthcare division specializes in the distribution of respiratory equipments and sleep disorder diagnosis services for patients suffering from respiratory conditions (sleep apnea, ventilation, chronic respiratory failure). TAC is the main player in this field in Saudi Arabia, serving over 1,400 patients at home throughout the country. The Home Healthcare division of TAC generated a revenue of over €5.5 million in 2016.
This acquisition reinforces the healthcare position of Air Liquide in Saudi Arabia, where it already supplies medical gases to hospitals. It also represents the entry into a territory with high potential for Air Liquide's Home Healthcare activity. The acquired entity has joined VitalAire, Air Liquide’s global brand for Home Healthcare.
With a population of over 32 million, rising healthcare needs and a commitment from public authorities to improve the quality of healthcare services in the Kingdom, the healthcare sector in KSA presents a strong potential with notably an increasing opening to foreign investors driven by the Saudi government’s 2030 Vision.
Francois Jackow, member of the Air Liquide Group’s Executive Committee, supervising Healthcare activities, said: “With this acquisition, Air Liquide pursues the development of its activity in Saudi Arabia and expands its Healthcare business in the Middle East. We are welcoming new TAC employees to Air Liquide’s operations and are looking forward to bringing high quality of service and first class innovations to patients in Saudi Arabia, as we do for more than 1.4 million patients around the world every day.”
Air Liquide in Saudi Arabia
Air Liquide announced its entry into Saudi Arabia in 2008 and now serves the Saudi market through two subsidiaries: Air Liquide Khafrah Industrial Gases (ALKIG) and Air Liquide Arabia (ALAR). ALKIG covers industrial, healthcare and electronics activities, delivering gas solutions to a wide range of customers through cylinders, bulk or on-site supplies. ALAR is a leader in the over-the-fence supply of industrial gases to major industries in Saudi Arabia, providing large volumes of industrial gases for refining, petrochemical and metal industries.
Air Liquide Healthcare
Supplies medical gases, home healthcare services, hygiene products, medical equipment and specialty ingredients. In 2016, it served over 15,000 hospitals and clinics and more than 1.4 million patients at home throughout the world. The Group’s Healthcare business reached €3,111 million in revenues in 2016, with the support of its 15,000 employees.
The world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 65,000 employees and serves more than 3 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Air Liquide’s ambition is to lead its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.
Air Liquide’s revenue amounted to €18.1 billion in 2016 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.