The Bastide Group enters the respiratory care devices market in Italy
Caissargues, July 18, 2022
The Bastide Group announces the acquisition of a majority stake in Oxystore, a company based near Milan, Italy. Oxystore specializes in home diagnosis and online sales of oxygen therapy and sleep apnea equipment for consumers. It also offers support and follow-up services to patients undergoing therapy at home.
In 2021, the company generated revenues of €4.1 million with an operating margin that was above Group standards. Oxystore is mainly present in Italy as well as in Switzerland and Spain, where it will complement the range of products offered by the Group's subsidiaries already present in these countries.
Oxystore's integration into the Bastide Group will allow it to improve the efficiency of its supply chain and benefit from better purchasing conditions, accelerating its expansion in Europe. With this transaction, the Bastide Group is expanding into Italy, a country with considerable demographic potential, thereby extending its geographical footprint in Europe. By positioning itself in a segment directly financed by patients or by their complementary health insurance, the Group is also pursuing its regulatory risk reduction strategy.
The acquisition will be paid in cash including deferred components and will ensure a long-term presence for Oxystore's founder. Oxystore will be consolidated within the Group's financial statements with effect from July 1, 2022.
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About Groupe Bastide Le Confort Médical
Created in 1977 by Guy Bastide, Groupe Bastide is a leading European provider of home healthcare services. Present in 6 countries, Bastide develops a permanent quality approach and is committed to providing medical devices and associated services that best meet patients' needs in key health areas: diabetes, nutrition, infusion, respiratory care, stomatherapy and urology. Bastide is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, - Bloomberg BLC: FP)
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Full and original press release in PDF: https://www.actusnews.com/news/75545-oxystore_eng.pdf
Source Actusnews
