Inogen Closes Acquisition Of Physio-Assist SAS
(RTTNews) - Medical technology company Inogen, Inc. (INGN) announced Monday it has completed the acquisition of Physio-Assist SAS, expanding the company's innovative respiratory portfolio.
As a result of the close of the transaction, originally announced on July 13, 2023, Inogen owns Physio-Assist and will now market the Simeox device outside of the U.S. and continue with ongoing preparations for FDA submission.
Simeox is used in pulmonary rehabilitation centers, as well as at home. It has been cleared under CE mark in the EU and is currently being sold in Europe, Asia, and the Middle East.
Inogen will leverage its commercial infrastructure and capabilities to continue marketing the device in these geographies while pursuing US regulatory approvals.
The acquisition may provide access to a large and growing market opportunity with 400,000 to 490,000 patients suffering from bronchiectasis in the US eventually.
The acquisition is expected to be immaterial to Inogen's 2023 revenue and immediately accretive to gross margin.
Given the clinical and commercial investment required to obtain FDA clearance and launch Simeox in the US, the transaction is expected to be accretive to adjusted earnings beginning in 2027.
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