Penlon Limited completes sale of its medical gas business
16th August 2011
Intermed Penlon has successfully completed the divestment of its medical gas business. Acquired by Atlas Copco Limited, Penlon’s Medical Gas Solutions business 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 divestment is in line with Penlon’s strategy of focusing on its core business of anaesthesia, and combined with Penlon’s significant global presence, will help drive growth opportunities for the business, especially in international markets. Penlon is committed to providing its customers with a strong value proposition, supported by excellent customer service, and has an enviable history of innovation and development in this field.
Stephen Moon, CEO commented, ‘As a global player in anaesthesia, this represents an important milestone for Penlon in our strategy to accelerate growth in our core business. The Penlon brand already has a strong heritage and we will look to further enhancing and strengthening our market position, underpinned by the talent and expertise of our global team’.