Air Liquide enters Saudi home health care market
With the acquisition of the respiratory division of Thimar Al-Jazirah Co. (TAC) in Saudi Arabia, Air Liquide enters the home health care market in the Kingdom, and expands its health care activity in the Middle East.
TAC is a leading actor in the pharmaceutical, medical and dental industries in Saudi Arabia. Acquired through a majority equity stake (60 percent), the TAC home health care division specializes in the distribution of respiratory equipment and sleep disorder diagnosis services for patients suffering from respiratory conditions (sleep apnea, ventilation, chronic respiratory failure).
TAC is the main player in the Kingdom in this field, serving more than 1,400 patients at home throughout the country. The home health care division of TAC generated a revenue of over €5.5 million ($6.63 million) in 2016.
This acquisition reinforces the health care position of Air Liquide in the country, where it is already a supplier of medical gases to hospitals. It also represents the entry into a territory with high potential for Air Liquide’s home health care activity. The acquired entity has joined VitalAire, Air Liquide’s global brand for home health care.
With a population of over 32 million, rising health care needs and a commitment from public authorities to improve the quality of health care services, the Saudi health care sector has strong potential, notably with an increasing opening to foreign investors driven by the government’s Vision 2030.
“With this acquisition, Air Liquide pursues the development of its activity in Saudi Arabia and expands its health care business in the Middle East,” said Francois Jackow, a member of the Air Liquide Group’s executive committee supervising health care activities.
“We are welcoming new TAC employees to Air Liquide’s operations, and are looking forward to bringing a high quality of service and first-class innovations to patients in Saudi Arabia, as we do for more than 1.4 million patients around the world every day.”