Becton, Dickinson and Company (BD) and Apax Partners have established a new global respiratory solutions company, Vyaire Medical.
The move follows Apax’s acquisition of 50.1% stake in BD’s respiratory solutions business. BD will hold 49.9% stake in the new company.
Vyaire Medical includes BD’s Respiratory Solutions business lines, comprising of ventilation, respiratory diagnostics, vital signs and AirLife products.
The business is expected to generate around annual revenue of about $800m.
With around 5,000 associates across the globe, the new firm includes locations in Yorba Linda an Palm Springs of California, as well as Plymouth of Minnesota in the US.
The company also includes facilities in Mexicali of Mexico, Cotia of Brazil, Hoechberg of Germany and Shenzhen of China.
Apax Partners partner Steven Dyson said: “We are very pleased with the progress the teams have made in the last six months in preparing Vyaire Medical for success as a standalone company, including the appointment of Dave Mowry as CEO.”
Vyaire Medical CEO Dave Mowry said: "We are delighted to launch this new brand, Vyaire Medical, built on the foundation of excellent products, talented people, and the industry standard for service and support for our customers.
“Our new company will be focused on providing improved patient outcomes and increased value to our customers through a collaborative partnership that brings innovation to these market segments.”
Last year, BD acquired CareFusion for around $12.2bn, which produces Alaris infusion pumps and IV sets, MaxPlus and MaxZero IV connectors and sets, Pyxis automated dispensing and patient identification systems.
The company also manufactures AVEA, LTV series and AirLife ventilation and respiratory products, ChloraPrep products, MedMined services for data mining surveillance, V. Mueller surgical instruments.
Image: Apax has completed the acquisition of 50.1% stake in BD’s respiratory solutions business. Photo: courtesy of stockimages / FreeDigitalPhotos.net.