Viasys Healthcare acquires Tiara Medical Systems for $24.3 million

By Lisa Kerner

Charlotte, N.C., July 12 - Viasys Healthcare Inc. said it has acquired all of the outstanding stock of Tiara Medical Systems, Inc. through one of its subsidiaries for consideration of approximately $24.3 million.

The company financed the acquisition with cash and borrowings under its revolving credit facility. "The acquisition of Tiara Medical reflects our commitment to expand our presence in the sleep therapy market," president and chief executive officer Randy Thurman said in a company news release.

"We believe that this acquisition positions us to compete effectively in this rapidly growing market segment by building on our existing product offering."

"The combined product offering of Viasys Healthcare and Tiara Medical will offer sleep diagnostics laboratories and home healthcare providers a variety of choices in the diagnosis and treatment of sleep disorders," Tiara Medical president and chief executive officer James Fitzsimmons added.

Based in Oak Forest, Ill., Tiara Medical designs, manufactures, markets, and sells Continuous Positive Airway Pressure masks, headgear, circuits, and filters.

Viasys is a medical technology company focused on respiratory, neurology, medical disposable and orthopedic products located in Conshohocken, Pa.

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