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The transaction includes operations in Belgium, Germany, France, Portugal and Spain. This business serves a total patient base around 260,000 in all five countries and had revenue of approximately €210 MM (US$267.4 million) last year.
"Over many years, our Continental European Homecare team has run a successful business, helping us to build several leadership positions," said John McGlade, Air Products president and CEO. "With the more recent trends towards concentrators and non-oxygen therapies, we feel it is no longer a natural fit with our core gases business."
The company is assessing several options in regards to its remaining Homecare interests in the UK, Ireland, Argentina and Brazil. Air Products will continue to operate these businesses as part of its portfolio.
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