TSB sells its chronic care management subsidiary to multinational Air Liquide Healthcare

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Integral service around a transaction
BY : Diego GutiérrezJanuary Tue, 2016

The introduction of new technologies in patient care services is a necessity for companies in the sector that want to be competitive. According to a study by Venture Watch Research for the first half of 2015, the e-health sector is the third leading sector in terms of investment in Spanish start-ups (8.8% of volume) behind financial technologies and tied with e-commerce (9.9% of volume each). This has led to companies in the healthcare sector deciding to take the plunge and bet on the purchase of companies technology such as the recent purchase of CHS by France's Air Liquide healthcare or Almirall's purchase of ThermiGen LLC.


Air Liquide Healthcare buys CHS

Air Liquide Healthcare bought in September 2015 CHS, a subsidiary of the Valencian company TSB, which specialises in the management of chronically ill patients.

Air Liquide Healthcare and TSB began discussions for the transfer of technology and know-how in mid-2014. The operation is structured in two phases: in the first phase, Air Liquide acquired 60% of CHS's capital; in the second phase, in 2018, the multinational will acquire the entire company.

CHS, develops software technology to improve and optimise the management of the coordinated continuum of care for people suffering from chronic diseases such as heart failure, chronic obstructive pulmonary disease (COPD), or diabetes.

Air Liquide Healthcare supplies medical gases to more than 7,500 hospitals and served more than 1.2 million home patients worldwide in 2014. The healthcare business of the gases company recorded revenues of €2.57 billion last year, 50% of which came from the home business.

For Air Liquide Healthcare, the transaction represents the incorporation of a strategic technological asset for the worldwide development of the chronic care management business. Air Liquide also strengthens its home care business in Spain, which is channelled through the subsidiaries Gasmedi and Vitalaire.


With this operation, TSB successfully completes a second case of technology transfer developed internally and validated in clinical studies and pilot trials, prior to its deployment in the market through investee companies or through the sale of the asset, as in this case. The first success story was the transfer of technology for locating people and assets in hospital environments through the subsidiary Mysphera, in 2012. Today, Mysphera is a leader in its sector in Spain with the largest installation in Europe at La Fe hospital in Valencia and installations in more than 10 hospitals in Spain and Chile. TSB continues to hold a majority stake in Mysphera.


Almirall acquires ThermiGen LLC

The Barcelona-based pharmaceutical company Almirall has exercised the option to purchase 100 % from ThermiGen LLC, a medical aesthetic technology company that leads the development and production of thermistor-regulated energy systems for plastic surgery and aesthetic dermatology applications.

ThermiGen's product portfolio is based on thermistor-regulated energy systems that are becoming known as the 'Science of Heat', allowing physicians to use temperature as a parameter to treat a variety of aesthetic soft tissue and nerve conditions.

ThermiRF®, the company's flagship product, is the first FDA-approved aesthetic medical device that employs radiofrequency-controlled temperature for use in dermatological and general surgical procedures for electrocoagulation and haemostasis and to create lesions in nerve tissue.

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