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Paris-based Air Liquide has acquired Sogo Sangyo Kabushiki Kaisha, a Japanese health care business specializing in home health care and medical gases markets in the Tokyo region. Terms were not disclosed.
Sogo Sangyo Kabushiki Kaisha generated revenue of €27 million (US$31.7 million in 2016. The acquisition strengthens Air Liquide's footprint in Japan both in medical gases to hospitals and in home health care business.
Worldwide, Japan now ranks as the third-largest respiratory home health care market after the U.S. and France. Home health care services in Japan are expected to continue increasing, supported by a robust health care system and social welfare coverage reaching almost 100 percent of the population.