Zoll has secured the winning bid to acquire Vyaire Medical’s ventilator business, which is being sold as part of Vyaire’s Chapter 11 bankruptcy proceedings.
RT’s Three Key Takeaways:
- Acquisition Amid Bankruptcy: Zoll has won the bid to acquire Vyaire Medical’s ventilator business.
- Pending Court Approval: The completion of the acquisition is contingent on court approval at an upcoming sale hearing, with the final closing expected in the coming weeks.
- Expansion of Zoll’s Portfolio: If the acquisition is finalized, Zoll will enhance its product portfolio by adding Vyaire’s ventilators, strengthening its ability to serve a broader range of clinicians and patients in the respiratory care market, according to Zoll’s CEO.
Zoll, an Asahi Kasei company that manufactures medical devices and related software solutions, announced that it is the winning bidder in an auction to acquire Vyaire Medical’s ventilator business as part of Vyaire’s Chapter 11 bankruptcy proceedings.
Completion of the acquisition is subject to court approval at a sale hearing and dependent on a successful closing that is anticipated to occur in the coming weeks.
“Respiratory care has been central to Zoll’s business strategy for many years,” says CEO Jon Rennert, in a release. “If the acquisition is successfully completed, adding Vyaire’s ventilators to Zoll’s product portfolio will enhance our ability to serve a broader range of clinicians and patients.”
Zoll is a provider of acute critical care and related software and diagnostic tools, and its solutions are used to diagnose and treat patients experiencing serious cardiopulmonary and respiratory conditions. Since 2014, the company has manufactured ventilation devices and accessories designed for the transport of critically ill patients.
Vyaire Announces Chapter 11 Bankruptcy in June
On June 10, Vyaire Medical announced it had voluntarily filed for Chapter 11 bankruptcy protection in the United States. The Chapter 11 filing allowed Vyaire to continue to operate while seeking to sell its business units, including the Vyaire ventilation business.
Since filing for bankruptcy, day-to-day operations at Vyaire “have continued with little interruption, and Vyaire has continued to serve its ventilator customers and maintain the team needed to operate safely and efficiently,” according to a release from Zoll.
