Grand Rapids, Mich.-based anesthesia and respiratory medical device manufacturer SunMed Group Holdings LLC has agreed to buy Vyaire Medical Inc.'s consumables unit.
The Vyaire business makes products used in airway management and operative care.
"Vyaire will continue to fully manage its consumables business and products until the transaction is finalized," a SunMed spokesperson told Plastics News in an emailed statement.
The spokesperson declined to comment on the terms of the acquisition, including whether there would be any leadership or workforce changes.
The transaction is expected to be completed in the first half of 2023, a March 28 news release said.
The combined company will have more than 250,000 square feet of manufacturing space, with a footprint in North America and Shenzhen, China.
Mettawa, Ill.-based Vyaire Medical is the former respiratory solutions business of Becton, Dickinson and Co. Private equity firm Apax Partners bought a majority stake in the company in 2016.
Private equity firm Frazier Healthcare Partners bought a majority stake in SunMed in 2021.
SunMed CEO Hank Struik said the deal "brings together two like-minded teams" and that "Vyaire's respiratory and anesthesia business brings an impressive manufacturing platform, which will add to our already deep North American manufacturing presence."
Philip Zaorski, partner at Frazier Healthcare Partners, said combining the businesses "represents an important step forward in our ambition to create the leading manufacturer of consumable respiratory and anesthesia medical products."
The Vyaire consumables business includes airway management and operative care technology such as AirLife oxygen therapy and Vital Signs anesthesia circuits.