ZOLL, a medical devices company of Asahi Kasei, said it is the winning bidder in an auction to acquire the ventilator business from US-based medical equipment supplier Vyaire Medical.
The auction is part of Vyaire’s Chapter 11 bankruptcy proceedings.
In June this year, Vyaire voluntarily filed for Chapter 11 bankruptcy protection in the US.
Under the Chapter 11 filing, Vyaire is allowed to continue its operations while seeking to sell its business units, including its ventilation business.
Since its bankruptcy filing, Vyaire has continued operations with minimal interruption and is serving its ventilator customers and maintaining the team to operate safely and effectively.
The acquisition is expected to be completed within a few weeks, subject to court approval.
Until the transaction is closed, Vyaire’s ventilator customers can continue to contact Vyaire.
ZOLL CEO Jon Rennert said: “Respiratory care has been central to ZOLL’s business strategy for many years. 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 develops and markets medical devices and software solutions that help advance emergency care while enhancing clinical and operational efficiencies.
It offers defibrillation and cardiac monitoring products, and equipment for circulation enhancement and CPR feedback, supersaturated oxygen therapy, data management, ventilation, therapeutic temperature management, and sleep apnea diagnosis and treatment.
The company provides technologies that help clinicians, EMS, fire professionals, and lay rescuers improve patient outcomes in critical cardiopulmonary conditions.
Earlier this year, ZOLL received an Innovative Technology contract from Vizient for TherOx SuperSaturated Oxygen (SSO₂) therapy, based on the recommendation of hospital experts.
