CAISSARGUES, France--(BUSINESS WIRE)--Regulatory News:
Bastide Le Confort Médical (Paris:BLC) (Euronext Paris Compartment B: BLC, FR0000035370), a specialist in home healthcare services, announces that it has completed a strategic acquisition in North America with the purchase of Medpro Respiratory Care, one of the largest respiratory care operators in Canada. Through this operation, Groupe Bastide is strengthening its position in a strategic activity and taking a position in a market with very strong potential.
Acquisition of one of the major Canadian players in respiratory care
Groupe Bastide acquired 100% of the capital of Medpro Respiratory Care (including its subsidiary Healthy Heart SleepCo), a major respiratory care operator in Canada. Founded in 1998, Medpro Respiratory Care achieved sales of C$14m in 2020, approximately €9.5m. The group operates in 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 market for respiratory care throughout the country is currently estimated at C$0.9bn. Given the chronic under-diagnosis, the total addressable market amounts to C$2.4bn and thus offers a significant margin for growth and conquest throughout Canada. The level of margin, resulting from the combination of public and private management, is comparable to or even higher than the European markets.
Strategic shift to Canada and North America
The Medpro Respiratory Care acquisition is perfectly in line with Groupe Bastide's strategy and meets three key objectives:
- Continue the Group's internationalization;
- Increase the share of higher value-added businesses, including respiratory care, in its mix;
- Diversify its pricing risk, with a larger private share than in France and, as a result, less sensitivity to any price cuts decided by regional governments.
This transaction also enables Groupe Bastide to build up its first bridgehead in North America, one of the areas where it plans to strengthen its position, particularly in respiratory care, in order to diversify its locations, stakeholders and business models. Medpro Respiratory Care will be managed by the current founders and executives.
About Groupe Bastide Le Confort Médical
Created in 1977 by Guy Bastide, the BASTIDE group is a leading European provider of 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 patients’ needs in key health areas: diabetes, nutrition, perfusion, respiratory, stomatherapy and urology. BASTIDE is listed on Euronext Paris (ISIN: FR0000035370, Reuters BATD.PA, - Bloomberg BLC: FP).
