Air Liquide, a world leader in gases, technologies and services for industry and health, has entered the home healthcare market in Saudi Arabia with the acquisition of the respiratory division of Thimar Al Jazirah Company (TAC).

TAC is a leading actor in the pharmaceutical, medical and dental industries within the kingdom. Acquired through a majority equity stake (60 per cent), the TAC Home Healthcare division specialises in the distribution of respiratory equipment and sleep disorder diagnosis services for patients suffering from respiratory conditions (sleep apnea, ventilation, chronic respiratory failure).

TAC is the main player in the country in this field, serving over 1,400 patients at home throughout the country. The Home Healthcare division of TAC generated a revenue of over €5.5 million ($6.81 million) in 2016.

This acquisition reinforces the healthcare position of Air Liquide in the country, where it is already a supplier of medical gases to hospitals. It represents also the entry into a territory with high potential for Air Liquide›s Home Healthcare activity, the company said.

The acquired entity has joined VitalAire, Air Liquide’s global brand for Home Healthcare.

With a population of over 32 million, the healthcare sector in Saudi Arabia presents a strong potential with notably an increasing openness to foreign investors driven by the Saudi government’s 2030 Vision, it said.

Francois Jackow, member of the Air Liquide Group’s executive committee, supervising healthcare activities, said: “With this acquisition, Air Liquide pursues the development of its activity in Saudi Arabia and expands its healthcare business in the Middle-East.”