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Praxair NOxBOX Buy Boosts Respiratory Healthcare Presence

Zacks Equity Research
Updated

Industrial gas producer and supplier Praxair Inc. PX recently acquired NOxBOX Ltd. from U.K.-based Bedfont Scientific Limited. The financial terms of the transaction have not been disclosed.

NOxBOX specializes in the manufacture of delivery systems for inhaled gas as well as provides its specialized monitoring systems. The firm’s well-known product, NOxBOXi delivery system, is used in hospitals for nitric oxide delivery and monitoring of nitric oxide, nitrogen dioxide and oxygen on a real-time basis. This acquisition will enable Praxair to cement its foothold in the respiratory healthcare industry globally through new and improved offerings. Moreover, the company expects to boost its revenue generation and technical capabilities.

In 2015, Praxair’s acquired assets contributed roughly 1% to top-line growth while further contributions are likely in the quarters ahead. Of its many acquisitions, the buyout of Tecnogas has expanded the company’s carbon dioxide business globally. Also, Praxair is in the process of acquiring the European carbon dioxide business of Yara International ASA.

We believe such strategic acquisitions have over time enabled Praxair to foray into unexplored markets and consolidate its position in existing markets. Also, these additions reflect the company’s sound cash position as well as its initiative to meet the growing needs for industrial gases and related services.

Despite the long-term positives, Praxair’s exposure to certain near-term headwinds has weakened its investment value. Currently, the stock has a market capitalization of $29.7 billion and carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the chemical industry include Koninklijke DSM N.V. RDSMY, Kraton Performance Polymers Inc. KRA and Ferroglobe PLC GSM. While both Koninklijke DSM and Kraton Performance Polymers sport a Zacks Rank #1 (Strong Buy), Ferroglobe PLC carries a Zacks Rank #2 (Buy).

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PRAXAIR INC (PX): Free Stock Analysis Report
 
KONINKLIJKE DSM (RDSMY): Free Stock Analysis Report
 
KRATON PERFORM (KRA): Free Stock Analysis Report
 
FERROGLOBE PLC (GSM): Free Stock Analysis Report
 
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Zacks Investment Research