Masimo (NASDAQ: MASI), a global leader in innovative noninvasive monitoring technologies, today announced it has entered into a definitive agreement to acquire TNI medical AG (“TNI”), an innovative ventilation company headquartered in Würzburg, Germany. In August 2019, Masimo disclosed an investment in TNI that included an exclusive option to acquire the company.
TNI’s novel softFlow technology is designed to provide high flow, warmed and humidified respiratory gases to spontaneously breathing patients suffering from serious pulmonary conditions. The softFlow technology provides efficient, quiet and comfortable respiratory support by generating a precisely regulated, stable high flow of room air or a mix of room air and oxygen. The system, comprised of an integrated flow generator, respiratory circuit, and patient interface, operates without the need of pneumatic systems (i.e. compressed air supplied from the hospital wall) and can be used both in the hospital and at home.
Ewald Anger, CEO of TNI, said, “The TNI team is excited to join Masimo and leverage their deep engineering and commercial expertise to continue delivering our technology to a large and growing global market for therapy with nasal insufflation.”
“We have been closely monitoring TNI since Masimo made its investment last summer and are thrilled to see the tremendous progress they have made in such a short time,” said Joe Kiani, Founder, Chairman, and CEO of Masimo. “Due to COVID-19, there has been increasing demand for TNI’s softFlow technology. We decided to exercise our option to acquire the company well before the option expired to allow Masimo to scale manufacturing. We believe this technology will provide clinicians with important additional tools to address the growing number of people affected by pulmonary diseases and respiratory-related illnesses, including those suffering from COVID-19. This acquisition illustrates our commitment to improving patient outcomes and reducing the cost of care.”
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The transaction is expected to close in the second quarter of 2020, subject to customary closing conditions. Masimo expects to fund the acquisition with existing cash on hand and expects the transaction to have an immaterial impact to net earnings in 2020.
Source: Biospace
