Caissargues, March 16, 2022 – 5:45 p.m. CET – Bastide Le Confort Médical (Euronext Paris Compartment B: BLC, FR0000035370), specialist in home healthcare services, announces that it has made a strategic acquisition in North America with the acquisition of Medpro Respiratory Care, one of the largest operators of respiratory assistance in Canada. Through this operation, Groupe Bastide is strengthening itself in a strategic business and taking a position in a market with very high potential.
Takeover of one of the main Canadian players in respiratory assistance
Groupe Bastide has acquired 100% of the capital of Medpro Respiratory Care (integrating its subsidiary Healthy Heart SleepCo), a major respiratory assistance operator in Canada. Founded in 1998, Medpro Respiratory Care achieved in 2020 a turnover of 14 million Canadian dollars, approximately 9.5 million euros. The group is established in the provinces of British Columbia, Alberta and Ontario. It offers a wide range of respiratory products and services to meet the needs of its customers, particularly in:
Oxygen therapy;
Non-invasive ventilation;
Sleep apnea.
The respiratory assistance market across the country is currently estimated at C$0.9 billion. Taking into account chronic underdiagnosis, the total addressable market amounts to 2.4 billion Canadian dollars and thus offers a significant margin of progress and conquest across Canada. The level of margin, resulting from the combination of public and private coverage, is comparable or even higher than that of the European markets.
Strategic move to Canada and North America
The acquisition of Medpro Respiratory Care fits perfectly into Groupe Bastide’s strategy by meeting three key objectives:
Pursue the internationalization of the Group;
Increase the share of businesses with higher added value, including respiratory assistance in its mix;
Diversify its tariff risk with a larger private share than in France and consequently less sensitivity to any tariff reductions decided by regional governments.
This operation also allows the Bastide Group to build a first bridgehead in North America, one of the areas where it plans to strengthen, particularly in respiratory assistance, in order to diversify its locations, its stakeholders and its economic models. . Management of Medpro Respiratory Care will be provided by the current founders and leaders.
About Bastide Medical Comfort Group
Created in 1977 by Guy Bastide, the BASTIDE Group is one of the main European players in home healthcare services. Present in 5 countries, BASTIDE develops a permanent quality approach and is committed to providing medical devices and associated services that best meet the needs of patients in key health areas: diabetes, nutrition, infusion, respiratory, stomatherapy and urology. . BASTIDE is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, – Bloomberg BLC: FP).
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Bastide Group |
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Vincent Bastide Olivier Jourdanney Phone +33 (0)4 66 38 68 08 |
Investor Relations Emmanuel Huynh Phone +33 (0)1 44 71 20 42 [email protected] |
Press relations Nicolas Merigeau Phone +33 (0)1 44 71 94 98 [email protected] | ||
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Full and original press release in PDF format:
https://www.actusnews.com/news/73608-16-03-22-cp_bastide-acquisition-canada.pdf
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