11/17/06
VIASYS Healthcare Inc, Conshocken, Pa, and Hoffman Laboratories, LLC, announced that VIASYS has acquired the assets of Hoffman Laboratories, LLC—a company that develops products targeted to the sleep therapeutic market.
"With this acquisition, VIASYS is increasing its presence in the global sleep therapy market," Randy Thurman, chairman, president and CEO, VIASYS Healthcare Inc, said. "We believe sleep therapy is the fastest growing market segment in the global respiratory market. We believe this acquisition is a key step following the establishment earlier this year of the VIASYS Sleep Diagnostics and Therapy business as a separate operating entity focused on this opportunity."
Based in Chatsworth, California, Hoffman Laboratories designed, manufactured, marketed, and sold CPAP devices and patient interfaces. Hoffman Laboratories offered home health care providers and sleep diagnostics laboratories the BreatheX®, a self-contained, battery-powered, "wearable CPAP."
"We believe that the acquisition of Hoffman Laboratories and the strength of its CPAP device technology is an outstanding compliment to our acquisition earlier this year of Tiara Medical Systems," Ed Pulwer, group president, VIASYS Respiratory Care, said. "We believe that we have brought together companies with VIASYS that have extensive expertise in the development of core technologies essential to CPAP devices, noninvasive ventilators, portable ventilators, and patient interfaces. The Hoffman acquisition demonstrates VIASYS Respiratory Care’s commitment to expand its presence in the sleep therapy market and maintain its leadership position in the mechanical ventilation market."
Under the terms of the acquisition agreement, VIASYS acquired the assets of Hoffman Laboratories, LLC, through its subsidiary, VIASYS Sleep Solutions LLC. VIASYS financed the acquisition with cash and borrowings under its revolving credit facility. Additional terms of the transaction are not being disclosed at this time.
