MINNEAPOLIS, Aug. 17 /PRNewswire/ -- Nonin Medical, Inc., announced today the acquisition of Swedish medical technology company MedAir AB. With the acquisition, MedAir, which specializes in developing and manufacturing optical equipment for medical gas analysis, has become a wholly owned subsidiary of Nonin Medical.
"The acquisition of MedAir is an excellent strategic fit for Nonin Medical and strengthens its dominant market position in physiologic monitoring," said Gary Tschautscher, president and chief executive officer of Nonin Medical. "By broadening our products and services to include carbon dioxide monitoring and enhancing our infrastructure, the acquisition enables us to better serve customers worldwide. In addition, MedAir's proprietary technology offers significant opportunities for new product development and growth."
"Nonin brings an established worldwide distribution network as well as strong ties to the OEM channel that will be essential to MedAir's future expansion," said Sigvard Weisbjerg, managing director of MedAir AB. "The two companies share a commitment to innovative products that offer flexibility, comfort and effectiveness for quality patient care in a range of medical settings."
Medair AB management and employees are not affected by the acquisition, the terms of which were undisclosed. The future plan calls for the expansion of Medair AB.
Minneapolis-based Nonin Medical designs, manufactures and distributes a broad spectrum of physiological monitoring devices, currently used by health and medical professionals in more than 125 countries. It draws upon its industry-leading capabilities in signal processing and sensor design to develop innovative pulse oximeters, sensors, accessories and software with features not available in competing products.
Nonin Medical, Inc.
CONTACT: Gary Tschautscher of Nonin Medical, Inc., +1-763-553-9968,firstname.lastname@example.org