CAIRE Completes Acquisition of MGC Diagnostics Holdings, Inc.

Company Further Expands Clinical Healthcare Portfolio for Patients Facing Pulmonary Disease

Ball Ground, GA (January 4, 2023) — CAIRE Inc., the leading global manufacturer of oxygen therapy and on-site generation systems, has finalized the acquisition of  St. Paul, Minnesota-based MGC Diagnostics Holdings, Inc. (MGC). This acquisition strengthens CAIRE’s position and focus on diagnostic technologies — furthering expanding its expertise in serving patients throughout the progression of pulmonary disease.

Through this expansion of its time-proven portfolio of personal portable and stationary oxygen therapy solutions, and larger onsite generation solutions, CAIRE adds MGC’s well-respected brand of non-invasive cardiorespiratory diagnostic systems, accessories, and consumables for the detection, classification, and management of cardiorespiratory disease.

“This acquisition provides the means of serving the patient in a more holistic way — improving their quality of care throughout their entire journey. With MGC, we address the needs of patients early in the progression of pulmonary disease with a proven portfolio of equipment that addresses awareness and diagnostic tools for the healthcare provider and clinician. After diagnosis, CAIRE’s oxygen therapy portfolio, which covers the entire continuum of care, can be leveraged to manage the patient’s disease and ensure the best possible quality of life. This is a win for CAIRE, but most importantly the patient, and quality respiratory care everywhere.” said Earl Lawson, CAIRE President and CEO. “We also expect to leverage CAIRE’s well-established global distribution and manufacturing footprint to expand patient access to this expanded set of solutions.”

The acquisition of MGC Diagnostics is a significant step in advancing CAIRE’s mission to connect with patients throughout the progression of pulmonary disease — including awareness, diagnosis, therapy, and monitoring.

Established in 1977, MGC is the number two player globally in the cardiorespiratory diagnostics sector. In addition to its St. Paul headquarters, MGC has facilities in Belgium, Germany, France, and Australia with more than two hundred employees. The company has a broad portfolio of products anchored by its pulmonary function testing systems, cardiopulmonary exercise systems, spirometers, flow sensors, gas analyzers, and associated consumables.

An aging population contributes to continued growth in prevalent populations for conditions requiring cardiorespiratory diagnostic testing. More than 65 million patients suffer from COPD, the third leading cause of death worldwide, and more than 300 million patients suffer from asthma globally. Both these populations continue to grow annually and are responsible for more than $100 billion annually in healthcare spending.

“The MGC team is excited about CAIRE’s acquisition of MGC. The additional resources that CAIRE and its parent NGK SPARK PLUG CO., LTD offer will enable the MGC business to accelerate its plans for expansion and growth to better serve respiratory patients around the globe. These plans include continued strengthening of the product portfolio and improved access in current and new markets,” said Todd Austin, MGC CEO.

Acquired by NGK SPARK PLUG in 2018, CAIRE is poised for continued growth as the organization further expands its portfolio of solutions to serve the greater medical and healthcare markets, a part of its overall diversification outside of its core internal combustion engine business.

Brookwood Associates acted as the financial advisor to CAIRE in this acquisition.

Ref: MR-CORP0023 A