Industry Beat
10/5/2009
Chart Acquires Covidien
(Garfield Heights, OH) • Chart Industries' wholly owned subsidiary, CAIRE Inc., which operates under its BioMedical segment, has entered into a definitive agreement with Covidien to acquire its oxygen therapy products, including the design, manufacturing, sales and service functions worldwide. The acquisition includes products sold under the Companion and HELiOS brands and is expected to increase BioMedical’s sales by over 50 percent to an expected annual run rate of approximately $150 million. The integration of the two operations is expected to be complete towards the end of 2010.