Reflection on Vyaire Medical:

Vyaire Medical was formed in October 2016 through a joint venture between Becton Dickinson and Apax Partners, a global private equity firm based in London. At the time of its formation, Vyaire had annual sales of approximately $800 million and positioned itself as a leading pure-play medical device company in the respiratory space, offering a range of respiratory consumables, ventilation, and respiratory diagnostics equipment.

Due to a significant decline in ventilator demand and “below-plan performance”, Vyaire Medical struggled with several financial challenges. In June 2024, Vyaire voluntarily filed for Chapter 11 bankruptcy protection in the US. Subsequently, Vyaire sold its ventilator business to ZOLL Medical and its respiratory diagnostic business to Trudell Medical. Earlier, in 2023, Vyaire sold its respiratory consumable business to SunMed (now AirLife) as part of a broader restructuring.