Physio-Assist created and produces a technology-facilitated airway clearance device, Simeox.
This device is presently used outside the US for treating bronchiectasis, a lung ailment, in pulmonary rehabilitation centres and at-home settings.
The bronchi of the lungs become injured and enlarged in this condition, which is frequent in cystic fibrosis and chronic obstructive pulmonary disease.
Simeox has received clearance in the European Union under the CE mark and is marketed in Europe, the Middle East and Asia (EMEA).
As per the deal, Physio-Assist is entitled to receive nearly $32m in cash from Inogen at closing, as well as payments on meeting milestones linked to clearance from the Food and Drug Administration for the device.
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The board of directors of both companies have approved the deal.
Inogen president and CEO Nabil Shabshab said: “This acquisition aligns with our strategy to diversify our portfolio to globally improve patient lives through respiratory care.
“Simeox imminently expands our product offering in EMEA and potentially in the US to serve COPD and other chronic disease patients who suffer from bronchiectasis with an innovative, non-invasive and next-generation airway clearance solution.”
Subject to necessary conditions and approvals, the acquisition is anticipated to conclude in the fourth quarter of this year.