SAN DIEGO, Dec. 2, 2010 /PRNewswire/ -- SeQual Technologies, Inc., a pioneer in portable oxygen technology, has entered into a definitive agreement to be acquired by Chart Industries' wholly owned subsidiary, CAIRE Inc., a leading respiratory care products provider for the home health care market. SeQual has built a strong reputation based on engineering experience and a clinical patient focus. As a leader in portable oxygen concentrators, SeQual will complement and broaden CAIRE'S respiratory portfolio—creating a one-stop-shop for a provider's oxygen needs.
"Chart's years of industry experience, financial stability and global presence will allow SeQual to focus on providing solutions for the oxygen segment of health care," said Ron Richard, CEO and President of SeQual Technologies. "With over 40,000 eclipses deployed throughout the world, SeQual is a proven leader in long-term oxygen therapy and prides itself on clinical efficacy and education. COPD is a leading cause of death and it's imperative to find innovative respiratory solutions for this global need, not only in clinical product offerings, but in programs and patient support as well."
"This transaction combines SeQual's technology and patient-focused product development capabilities with our global marketing, distribution and operating expertise," stated Steve Shaw, President of Chart BioMedical. "We expect to integrate the majority of SeQual's operations during 2011."
Completion of the transaction, subject to customary closing conditions, is expected by the end of January 2011.
Raptor Partners LLC acted as financial advisor to SeQual Technologies Inc. in connection with this transaction.
Certain statements made in this news release are or imply forward-looking statements, such as statements concerning plans, objectives, business trends, and other information that is not historical in nature. These statements are made based on management's expectations concerning future events and are subject to factors and uncertainties that could cause actual results to differ materially. These factors and uncertainties include the satisfaction of customary conditions to closing the transaction, successful integration of the businesses, changes in government health care regulations and reimbursement policies, and economic, political, business and market risks associated with global operations.
About Chart Industries, Inc.
Chart is a leading global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia and Europe. For more information on Chart visit: http://www.chart-ind.com.
About SeQual Technologies Inc.
SeQual Technologies, founded in 1991, develops, manufactures and markets products for medical, military, industrial and commercial applications that utilize the Company's proprietary pressure swing adsorption (PSA) technology for air separation. Since 1998, the Company has focused on the development of medical oxygen concentrators; devices that separate oxygen from air to provide supplemental breathing oxygen to individuals with chronic lung disease. SeQual's line of medical oxygen concentrators ranges from its award-winning, 3 LPM (liters-per-minute) continuous flow portable eclipse 3 tm oxygen system to its Integra high-capacity (10 liter per minute) bedside unit. For more information, visit www.sequal.com.
SOURCE SeQual Technology, Inc.