Penlon Limited agrees sale of its medical gas business
8th April 2011
Intermed Penlon has signed an agreement with Atlas Copco Limited for them to acquire the medical gas business from Penlon Limited. Penlon’s Medical Gas Solutions supplies medical gas systems, medical vacuum equipment and medical gas pipeline components for hospitals around the world. It had revenues of approximately £12 million in 2010 and employs around 100 people. The parties have agreed not to disclose the purchase price. The transaction is conditional on competition clearance in the UK.
Stephen Moon, CEO commented, ‘I would like to thank all members of our medical gas business for their dedication and effort over the years which has created the strong business it is today, and wish the team every success in this next stage of their development’.
Penlon Limited will continue to focus on its anaesthesia business. Penlon is the only, independent UK based manufacturer of anaesthesia systems and has built a reputation for excellence in this field which goes back to 1943, when it was first established by personnel from the Department of Anaesthetics at Oxford University. The anaesthesia business currently exports over 60% of its production to more than 90 countries worldwide.
Over the years Penlon’s success has been recognised through four Queen’s Awards, both for its commercial success in overseas markets and innovation for the highly acclaimed Sigma Delta Vaporizer. These awards truly distinguish Penlon, which competes against a number of multi-national players in this sector.
Stephen Moon commented, ‘This divestment represents another important milestone in the history of the Company and will allow us to re-focus our efforts entirely on the anaesthesia market. Penlon has established an enviable presence in the anaesthesia market, built over the last seventy years. Our core business and customers are significantly different from those of medical gas and we believe that as a distinct anaesthesia business, we will be better able to strengthen our product competence and offering, and to extend our global footprint’.
Anne Macmillan, Marketing Director
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