Physio-Assist SAS

History

2023: Inogen bought Physio-Assist SAS

On July 13, 2023, the medical technology company Inogen announced the conclusion of an agreement on the purchase of the French firm Physio-Assist SAS, a developer of specialized medical equipment.

Physio-Assist has created and manufactures the Simeox system, an airway cleaning machine with proven efficacy and a high level of safety. The device is used to treat a condition in the lungs known as bronchiectasis: this is a persistent expansion of one or more areas of the bronchi due to the destruction of the elastic and muscular layers of their wall. This pathology is often present in cystic fibrosis and chronic obstructive pulmonary disease. Simeox is used in pulmonary rehabilitation centers as well as at home.

Simeox airway cleaning apparatus manufactured by Physio-Assist

Under the terms of the signed agreement, the total amount of the transaction can be approximately $45 million. The deal is approved by the boards of directors of both parties. It is planned to complete the transfer of assets in the fourth quarter of 2023 after obtaining the necessary permits from regulators.

This acquisition aligns with our strategy to diversify the product range to improve patients' lives globally with respiratory therapy. Simeox will be used to treat patients with chronic obstructive pulmonary disease and other chronic diseases suffering from bronchiectasis - with an innovative, non-invasive airway cleaning solution, said Nabil Shabshab, President and CEO of Inogen.

To facilitate Physio-Assist operations between the signing of the document and the expected completion of the transaction, Inogen will provide Physio-Assist with a short-term loan of up to $500 thousand. After closing, $250 thousand will be used to reduce the purchase price, and another $250 thousand will be forgiven.^[1]

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