Context

Concomitantly with the Air Liquide acquisition of LVL Médical's French activities, the Lavorel family agreed to acquire 100% of LVL Médical Allemagne from LVL Médical Groupe. The transaction was structured as a mandatory prerequisite to the Air Liquide deal, as the latter's acquisition perimeter was explicitly limited to the French operations. The carve-out ensures a clean separation between the French and German businesses, with Air Liquide retaining full focus on the French home healthcare market and the Lavorel family continuing to develop the German operations autonomously. The transaction was agreed upon on a concurrent basis with the broader LVL Médical deal, with both closings expected in Q3 2012.

Target

LVL Medical Allemagne is the German subsidiary of LVL Médical Groupe SA, a French home healthcare services group. Operating on the same model as its French parent, the German entity provides home-based medical services and equipment to patients suffering from chronic conditions, developing an intensive care delivery model structured around small local units combining strong field presence, patient proximity, and high-level technical services.