DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story


Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

 

 

Business Affairs Homepage

Philips to oversee strategic revamping of German-based providers Upgrading and replacing equipment in two separate partnerships

Why Amazon’s winning the healthcare battle Analyzing the PillPack acquisition and other recent moves by the online retail giant

Bruker in deal to acquire JPK Instruments JPK makes microscopy instruments for biomolecular and cellular imaging

Medmo lets patients set price for radiology imaging tests A travel industry concept comes to healthcare

First radiology center opens in Zimbabwe capital to help curb shortage Currently 115 radiologists in country of 14 million people

Veritas closes $1 billion GE Healthcare software unit buy Will run newly acquired business as a stand-alone company

Onkos Surgical and Insight Medical partner to bring augmented reality to tumor surgery Could this become the new standard of care?

Precision X-Ray and Faxitron Bioptics combine business assets Forming a new global leader in biological irradiation

DaVita hit with $383.5 million jury verdict in dialysis death suit Three patients suffered cardiac arrest after getting GranuFlo therapy

Ultrasound Versus IR: Making decisions about real-time location systems Doing your homework is key to making the right investment in RTLS

Praxair in deal to sell European assets to Taiyo Nippon Sanso

by Thomas Dworetzky , Contributing Reporter
Praxair has made a deal to sell the majority of its European assets to Taiyo Nippon Sanso – dependent on the successful closing of the Praxair-Linde merger.

A post-merger Praxair-Linde organization, according to Reuters, could be big enough to take the number one spot from Air Liquide in its ability to provide gases like oxygen and helium on a global scale – of vital interest in the imaging community.

Story Continues Below Advertisement

THE (LEADER) IN MEDICAL IMAGING TECHNOLOGY SINCE 1982. SALES-SERVICE-REPAIR

Special-Pricing Available on Medical Displays, Patient Monitors, Recorders, Printers, Media, Ultrasound Machines, and Cameras.This includes Top Brands such as SONY, BARCO, NDS, NEC, LG, EDAN, EIZO, ELO, FSN, PANASONIC, MITSUBISHI, OLYMPUS, & WIDE.



The merger would result in firm with revenues of almost $29 billion and 88,000 staff.

The merging firms must sell assets to pass regulatory muster in their $83 billion all-share merger. The 5 billion euro ($5.9 billion) divestment to Taiyo Nippon Sanso is for businesses with 2017 earnings of about 1.3 billion euros.

“We are taking a constructive approach to address regulatory concerns with the merger in the European Economic Area,” Steve Angel, Praxair chairman and chief executive officer, said in a statement. “Taiyo Nippon Sanso is a strong and capable global industrial gas buyer for our assets and we are pleased that they will continue to serve the needs of our customers in Europe.”

The assets that would transfer include Praxair’s gas businesses in Belgium, Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden and the United Kingdom. About 2,500 employees work at these facilities.

“With this acquisition, we are seizing a unique opportunity to enter the European market and establish a truly global footprint through the purchase of highly attractive assets in all the key geographies in the European Union. We look forward to growing these highly profitable businesses and welcoming the experienced and dedicated Praxair European team to TNSC,” Yujiro Ichihara, president and CEO of Taiyo Nippon Sanso, said in a statement.

At present, the businesses that are part of the agreement will be owned and run by Praxair until the merger and this latest deal both close.

The present objective is for the merger of Praxair and Linde to finish in the second half of 2018.

More disposals are possible in the moves to finish the merger.

“Linde and Praxair are in discussions with the competent authorities and in negotiations with potential bidders, with the objective of completing the business combination in the second half of 2018,” Linde advised, according to Reuters.

The merger first hit the news in late 2016, after months of speculation and rumors, when the firms announced a non-binding term sheet.

The combination, based on 2015 financials, would have pro forma revenues of about $30 billion and a present market cap above $65 billion, according to the companies at that time.

In 2017, when the firms signed a definitive business combination agreement, they stated that, “the transaction unites Linde’s long-standing leadership in engineering and technology with Praxair’s efficient operating model – creating a global leader.”

“The combined company will give us the opportunity to leverage the individual strengths of both companies across a much larger global footprint and enhance our ability to drive innovation and growth,” Angel noted at the time.

Business Affairs Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED