PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide’s (Paris:AI) acquisition of EOVE, a French start-up company specialized in the design and manufacture of ventilators for home-based patients suffering from chronic respiratory failure, is in line with the Group’s strategy of developing its home healthcare activity. The start-up EOVE has developed an innovative solution: a connected portable ventilator that takes into account the mobility needs of patients and facilitates the practice of doctors.
Founded in 2014, EOVE has developed an Android-based technology platform. The company’s ventilator offers advanced features for mobility, combining a compact size and connectivity. It enables the implementation of all therapeutic strategies. This offer, already available in France, Italy, Germany, South Korea, and Canada, is geared for patients who suffer from neuromuscular diseases and who need continuous ventilation. In 2017, EOVE generated total revenue of nearly 5 million euros.
The acquisition of EOVE enables Air Liquide to reinforce its expertise in home ventilation for chronic respiratory failure thanks to cutting-edge technological know-how and a team dedicated to innovation specialized in the life support ventilation segment. This will also enable EOVE to accelerate its international development.
François Jackow, member of the Air Liquide Group’s Executive Committee, supervising Healthcare activities, said:“EOVE is recognized for its know-how and capacity for innovation in home ventilation, as well as for the expertise of its teams. This acquisition enables Air Liquide to extend its service offering in the area of respiratory diseases through a unique connected solution. As such, it is completely in line with our home healthcare development strategy.”
Air Liquide Healthcare
supplies medical gases, home healthcare services, hygiene products, medical equipment, and specialty ingredients. In 2017, it served more than 15,000 hospitals and clinics and more than 1.5 million patients at home throughout the world. The Group’s Healthcare business reached 3,401 million euros in revenues in 2017 with the support of its 16,500 employees.
The Home Healthcare Business
Air Liquide, European leader in home healthcare, provides home healthcare services in compliance with medical prescription for patients suffering from chronic diseases such as COPD (Chronic Obstructive Pulmonary Disease), sleep apnea and diabetes. These home healthcare services are being developed in addition to hospital care, enabling patients to enjoy better quality of life and local authorities to reduce costs. Home healthcare represents 45% of Air Liquide's revenue in Healthcare in 2017.
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 3.5 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 20.3 billion euros in 2017 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.
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