Philips expands home healthcare reach with multiple acquisitions
Royal Philips Electronics today acquired the aerosol therapy business of Medel, a privately held distributor of nebulizer compressor systems and other home healthcare products in Parma, Italy. In a related transaction, Philips also acquired a manufacturing facility in Guandong, China, for nebulizer compressor systems and operations in Hong Kong.
The acquired businesses, for which the financial details were not disclosed, have become part of the Respiratory Drug Delivery business unit within Philips Home Healthcare Solutions.
Philips said the addition of the Guangdong facility means another “significant expansion of its industrial footprint” in China following the acquisition of the country’s second-largest patient monitoring company Shenzhen Goldway Industrial in April.
“When Philips acquired Respironics, the company also had a leading respiratory drug delivery business,” said Philips Home Healthcare Solutions CEO Don Spence. “Building upon that strength and fulfilling on our ambition to expand our high-growth compressor nebulizer systems franchise, we decided to acquire the aerosol therapy business of Medel which allows us to better serve the needs of our customers and their patients who suffer from asthma, chronic obstructive pulmonary disease, cystic fibrosis and other respiratory disorders.”
The acquired businesses include the aerosol therapy business of Medel and the manufacturing and logistics operations for the global nebulizer business Melhk in Hong Kong and its subsidiary Melmedical in China, according to Philips.
The acquired businesses, for which the financial details were not disclosed, have become part of the Respiratory Drug Delivery business unit within Philips Home Healthcare Solutions.
Philips said the addition of the Guangdong facility means another “significant expansion of its industrial footprint” in China following the acquisition of the country’s second-largest patient monitoring company Shenzhen Goldway Industrial in April.
“When Philips acquired Respironics, the company also had a leading respiratory drug delivery business,” said Philips Home Healthcare Solutions CEO Don Spence. “Building upon that strength and fulfilling on our ambition to expand our high-growth compressor nebulizer systems franchise, we decided to acquire the aerosol therapy business of Medel which allows us to better serve the needs of our customers and their patients who suffer from asthma, chronic obstructive pulmonary disease, cystic fibrosis and other respiratory disorders.”
The acquired businesses include the aerosol therapy business of Medel and the manufacturing and logistics operations for the global nebulizer business Melhk in Hong Kong and its subsidiary Melmedical in China, according to Philips.