AIR LIQUIDE HEALTHCARE SELLS ALM, ITS HOSPITAL EQUIPMENT SUBSIDIARY

26-Jan-2001

The Air Liquide group has sold its subsidiary ALM to Getinge Industrier, a Swedish medical and industrial technology group that is the world’s leading provider of comprehensive solutions for the healthcare and geriatrics sectors and some manufacturing industries. Getinge Industrier - which posted estimated 2000 revenues of 686 million euros and has over 5,000 employees throughout the world - is seeking to develop its surgical systems business.

ALM, based near Orleans, France, makes and sells various hospital equipment including operating lighting systems and tables and distribution arms for operating and intensive care rooms. In 1999 it achieved revenues of 64 million euros and should exceed 74 million in 2000. Foreign operations in fifty countries account for 75% of this figure. ALM has subsidiaries in the US and Great Britain and 313 employees.

This deal is part of Air Liquide Healthcare’s effort to focus on its core business to achieve its strategic objective of being the leading global supplier of respiratory gases and services, both in the hospital and at home, while expanding its service offering. ALM ceased to be consolidated on December 31, 2000.

Healthcare products and services accounted for 14.8% of the Air Liquide group’s gas and services sales in 1999, or about 965 million euros. Healthcare business is composed of two segments:

Hospital gases and services, which include medical gases, related technologies and services, and hospital hygiene and disinfection Homecare, which mainly involves treating respiratory disorders in the home.

These businesses have grown over 15% annually since 1995. According to Jean-Marc de Royere, a member of Air Liquide’s Executive Committee who heads its Healthcare division: "This deal will put ALM in a new environment that will enable it to develop its business faster. As for Air Liquide, it allows us to concentrate on the fantastic potential of our healthcare gases and services".

https://www.chemeurope.com/en/news/1013/air-liquide-healthcare-sells-alm-its-hospital-equipment-subsidiary.html