Caire, a subsidiary of NGK Spark Plug Co., announced the acquisition of MGC Diagnostics Holdings, a company that designs, develops, manufactures, and markets noninvasive cardiorespiratory diagnostic systems, accessories, and consumables for the detection, classification, and management of cardiorespiratory disease. Caire is a global oxygen equipment manufacturer.
“Caire is firmly committed to driving future growth by expanding our offerings in the clinical setting to better serve those individuals affected by cardiorespiratory diseases,” said Earl Lawson, Caire president and CEO. “MGC has a state-of-the-art portfolio that is widely adopted to diagnose respiratory disease and to ensure that the information obtained benefits disease management. These tools are an excellent complement to Caire’s complete range of oxygen therapy solutions. Furthermore, we are very excited to work with the talented MGC senior management team and global team of professionals who were responsible for the strategic planning and execution driving MGC’s strong growth. This will be key to a seamless integration of the business and the ongoing expansion in the marketplace.”
The acquisition is a big step in advancing Caire’s mission to help patients throughout pulmonary disease progression, including awareness, diagnosis, therapy, and monitoring. The company, which acquired Spirosure (now Caire Diagnositics), a developer and manufacturer of a proprietary asthma diagnostic technology, in 2020, now will have a global distribution channel directly into hospitals and clinics with the MGC Diagnostics Holdings acquisition, according to a company press release.
“The MGC team is excited to become a part of the Caire organization,” said Todd Austin, MGC CEO. “After outperforming the market consistently, we look forward to leveraging the resources of Caire and NGK Spark Plug to drive continued growth in our existing markets and to launch new products and technologies through our best-in-class distribution channels.”
The acquisition is also said to support the expansion of Japan-based NGK Spark Plug portfolio to help serve the greater medical and healthcare markets. The acquisition is said to close by the end of 2022.