Paris-based medical oxygen player NOVAIR Group (NOVAIR) is set to cause a ‘disruption’ in the global medical oxygen market following a €26m investment by global investment group Eurazeo via Nov Santé Actions Non Cotées, a fund managed by the company.
The funding will help NOVAIR to accelerate its ambitions to transform the global medical oxygen market by the global deployment of its flagship product, a medical oxygen generator for healthcare facilities.
Already installed in ‘several thousand’ hospitals internationally, NOVAIR claims its product allows healthcare institutions to produce their own medical oxygen, thereby mitigating the need for truck delivery, causing a reduction in its carbon footprint.
Commenting on the investment, Bernard Zenou, President, NOVAIR, said, “We are very pleased to have a partner such as Eurazeo at our side to participate in our ambitious expansion plan, in the perspective of a disruption of the global medical oxygen market.”
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