Turkish hospital equipments maker Blue Sensor has agreed to buy the world’s largest supplier of portable cardiac monitors, including a $1.3 billion deal that will see the company supply monitors for more than 100,000 hospitals in more than 200 countries.
The deal, first reported by Recode, will be the largest ever by Blue Sensor, which also makes devices for the American National Guard and for some of the world.
Blue Sensor will supply the monitors for hospitals in Turkey, the United Arab Emirates, Malaysia, Indonesia, Israel, New Zealand, Singapore and South Africa.
The Turkish hospital supply chain is the largest in the world, and is responsible for nearly 10 percent of the total global supply of portable heart monitors, according to data from the International Medical Supply Association.
Blue Sensors monitors are also used in about one-third of the global market.
The acquisition is a significant win for Turkey, which has been battling the rise of cardiac infections and deaths caused by the virus.
BlueSensor has been growing rapidly, but is facing a crisis in Turkey.
The company reported a sharp drop in revenue in the first half of this year, amid the rise in cases and deaths.
“We have been struggling with the coronavirus, and we’re going to continue to be struggling with this,” said Jumana Eltahawy, the company’s CEO, in an interview with Recode.
“We’re going through this really tough period right now.”
In a statement, BlueSensor CEO Huluset Seliçi said the deal would enable the company to “add new capabilities” to its product portfolio.
He added that Blue Sensor’s market leadership in the portable monitors market “is a result of a solid business culture, a long history of innovation and a strong relationship with our customers.”
Eltahaws family, which is based in Istanbul, has owned the company since 2006.
The family also has been involved in other companies that manufacture portable cardiac monitor equipment.
Eltahs family also owns the company that makes a similar product called the Blue Sensor EMT Monitor.
Eltahs company, which makes devices to fit the medical equipment used in hospitals and other facilities, has also grown rapidly in recent years.
It recently acquired the world market for its own portable cardiac monitoring system, Blue Sensor Life.
The purchase was made in October.
The company, based in the Netherlands, has grown rapidly since the end of the economic crisis in 2014, according the company.
In addition to Blue Sensor Health, Blue Sensers devices are also sold in India and China, and in Europe.
The Blue Sensor deal is the biggest of its kind by a Turkish company, and one of the largest for a non-US company, according a Reuters tally.
A deal of that size is common among the top 10 global cardiac monitor companies, according for the company, but the number of companies in the top 20 is rare.
In addition to the Turkey deal, BlueSense, the world leader in portable cardiac health monitors, announced earlier this month that it has acquired the company in Belgium for an undisclosed amount.