Listed MedTech Inspiration Healthcare is to launch in the United States via the acquisition of Airon Corporation.

The deal for the specialist respiratory device company, based in Florida, is for a maximum of $2.5 million, which includes $1m in performance-related earnouts. 

Airon is a leading manufacturer of specialist pneumatic oxygen-powered life support ventilators, which have multiple uses including in MRI machines and transportation for neonates through to adults.

The company also sells a complementary range of continuous positive airway pressure devices, used in emergency medicine to support children and adult patients. 

It has 15 employees, including sales, marketing and tech support, and an established distribution network across the USA. In the year to 30th April 2023, Airon generated total revenues of $1.4m, a loss before tax of $400,000 and net assets of $1.3m.

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In August 2023, Inspiration Healthcare submitted a 510K application to the FDA for the SLE6000 neonatal ventilator which, pending approval, it aims to launch in H2 FY2025. It says the acquisition of Airon provides an established platform for US market entry for the SLE6000 and other products in the company’s portfolio.

Eric Gjerde, founder, president and CEO of Airon, will stay involved in the company to help manage the transition whilst Inspiration Healthcare searches for a permanent new general manager for the North American business.

“The acquisition of Airon is an important strategic milestone for Inspiration Healthcare,” said Neil Campbell, CEO of Inspiration Healthcare. 

“The potential approval of the SLE6000 represents a significant commercial opportunity and Airon gives the group an established direct presence and expertise in the USA, which will accelerate and de-risk our commercial strategy. 

“Airon also brings a range of complementary products, which will further enhance our portfolio and enable us to increase sales in other markets. I am delighted to welcome the Airon team to Inspiration Healthcare and look forward to working together to provide lifesaving technologies to the US market.”

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