PBM Capital Group acquires Breas Medical
- February 4, 2014
PBM Capital Group, a private investment firm in Charlottesville, has acquired Breas Medical AB from GE Healthcare, a subsidiary of General Electric Co. Terms of the deal were not disclosed.
Breas, headquartered in Sweden, is a leading manufacturer of home respiratory ventilators and sleep apnea products that are sold in more than 40 countries. According to PBM, Breas employs more than 100 people in nine countries and operates a 30,000-square-foot manufacturing/office facility in Sweden.
PBM Capital plans to integrate Breas into Human Design Medical (HDM), an existing portfolio company. HDM is a lifestyle medical device company focusing on the treatment of sleep apnea. HDM launched the Z1™ CPAP machine in November, the world’s smallest and lightest CPAP machine.
“We acquired Breas because it is a logical fit with our growing HDM sleep apnea business,” PBM Capital Group CEO Paul B. Manning said in a statement. “The Z1 CPAP machine has had an incredible launch here in the United States, and we have more innovative products in the pipeline. The Breas acquisition opens the door to global distribution channels and gives us immediate access to an established line of home care ventilators … We are very excited to merge these two great companies.”
Breas Medical AB was founded in Gothenburg, Sweden, in 1991, and was acquired by GE Healthcare in 2008. Breas product development focuses on home care ventilation and sleep therapy products. Products are sold directly through Breas and a global network of distributors. Breas plans to introduce its Vivo 50 ventilator in the U.S. this quarter.
PBM focuses on health care and life science investments. Founded by Manning, it rsold its infant formula and nutrition business to to Perrigo Co. in 2010.