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57 min ago 2 min read
Italy-based industrial gases multinational SOL Group has acquired Danish respiratory care specialist Nowus Healthcare in a move that will expand its homecare business into the Nordic region for the first time.
The acquisition, made through SOL subsidiary Airsol, will see the group’s VIVISOL homecare business establish operations in Denmark, Sweden, Norway and Finland. The transaction is expected to close by the end of September.
Founded in 2017 and headquartered in Ballerup, Denmark, Nowus Healthcare distributes medical devices and consumables used in the diagnosis and treatment of respiratory conditions, including sleep apnoea, chronic obstructive pulmonary disease (COPD) and other chronic respiratory illnesses.
The company generated consolidated revenues of approximately DKK 51.3m (€7m) and employs 14 people. Alongside its subsidiaries, it supplies hospitals, sleep clinics and healthcare professionals across Denmark, Sweden, Norway, Finland and the UK.
Matteo Fumagalli Romario, Director of SOL Group, said the acquisition reflected the company’s continued international expansion strategy.
“[This acquisition] … reflects SOL Group’s commitment to continuing its internationalisation journey, expanding our European operations into Denmark and the Nordic countries as well,” he said.
Claudio Garbellini, General Manager of SOL Group’s Home Care division, added, “We will soon welcome Lars Henriksen, CEO and co-founder of Nowus Healthcare, and all his colleagues into VIVISOL, with whom we will continue to develop the company’s activities in the respiratory care sector.”
Lars Henriksen, CEO and co-founder of Nowus Healthcare, said joining VIVISOL would enable the business to build on its growth while maintaining its customer-focused approach.
The deal continues SOL’s expansion of its European homecare operations. Earlier this year, the company Air Liquide’s Swiss homecare business, VitalAire Schweiz, further strengthening its presence in the respiratory care market.
The acquisition comes as demand for respiratory care continues to grow across Europe.
The region’s respiratory care and oxygen device market is projected to exceed $13bn by 2030, driven by ageing populations, rising rates of chronic respiratory diseases such as COPD, and increasing demand for portable oxygen concentrators and other home-based respiratory care technologies that support greater patient mobility.
