BALL GROUND, Georgia—CAIRE Inc., a global manufacturer of oxygen therapy and on-site generation systems, has finalized the acquisition of St. Paul, Minnesota-based MGC Diagnostics Holdings, Inc. (MGC). This acquisition strengthens CAIRE’s position and focus on diagnostic technologies — furthering expanding its expertise in serving patients throughout the progression of pulmonary disease, the company said in a news release.
Through this expansion of its portfolio of personal portable and stationary oxygen therapy solutions and larger onsite generation solutions, CAIRE adds MGC’s brand of non-invasive cardiorespiratory diagnostic systems, accessories, and consumables for the detection, classification, and management of cardiorespiratory disease.
“This acquisition provides the means of serving the patient in a more holistic way—improving their quality of care throughout their entire journey," sad CAIRE President and CEO Earl Lawson. "With MGC, we address the needs of patients early in the progression of pulmonary disease with a proven portfolio of equipment that addresses awareness and diagnostic tools for the healthcare provider and clinician. After diagnosis, CAIRE’s oxygen therapy portfolio, which covers the entire continuum of care, can be leveraged to manage the patient’s disease and ensure the best possible quality of life."
Established in 1977, MGC is the number two player globally in the cardiorespiratory diagnostics sector. In addition to its St. Paul headquarters, MGC has facilities in Belgium, Germany, France, and Australia with more than two hundred employees. The company has a broad portfolio of products anchored by its pulmonary function testing systems, cardiopulmonary exercise systems, spirometers, flow sensors, gas analyzers and associated consumables.
An aging population contributes to continued growth in prevalent populations for conditions requiring cardiorespiratory diagnostic testing. More than 65 million patients suffer from COPD, the third leading cause of death worldwide, and more than 300 million patients suffer from asthma globally. Both these populations continue to grow annually and are responsible for more than $100 billion annually in healthcare spending.
“The MGC team is excited about CAIRE’s acquisition of MGC," said Todd Austin, MGC's CEO. "The additional resources that CAIRE and its parent NGK SPARK PLUG CO., LTD offer will enable the MGC business to accelerate its plans for expansion and growth to better serve respiratory patients around the globe. These plans include continued strengthening of the product portfolio and improved access in current and new markets."
Acquired by NGK SPARK PLUG in 2018, CAIRE is poised for continued growth as the organization further expands its portfolio of solutions to serve the greater medical and healthcare markets, a part of its overall diversification outside of its core internal combustion engine business.