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Penlon Completes Sale of Medical Gas Business
04/24/2013 23:06:55
Penlon (Abingdon, United Kingdom) has successfully completed the divestment of its medical gas business, which has been acquired by Atlas Copco (Stockholm, Sweden) for an undisclosed purchase price.
The divestment is in line with Penlon’s strategy of focusing on its core business of anesthesia, and combined with Penlon’s global presence is expected to help drive growth opportunities, especially in international markets. The divested division will become part of Atlas Copco’s Industrial Air division and the products will be sold under the brand name Penlon Medical Gas Solutions. The Atlas Copco Group already has a presence in the medical gas market through BeaconMedaes (Rock Hill, SC, USA), which specializes in medical gas systems. With the acquisition of Penlon Medical Gas Solutions, Atlas Copco intends to improve its global footprint and be a comprehensive solutions provider to worldwide medical gas customers.
“The medical gas market is a growing segment worldwide and has an aftermarket business with a good potential,” said Stephan Kuhn, business area president at Atlas Copco. “This acquisition supports Atlas Copco’s strategy of extending our medical gas offering globally and increasing revenues through aftermarket.”
“As a global player in anesthesia, this represents an important milestone for Penlon in our strategy to accelerate growth in our core business,” said Stephen Moon, CEO of Penlon. “The Penlon brand already has a strong heritage and we will look to further enhancing and strengthening our market position, underpinned by the talent and expertise of our global team.”
