More than half of Chinese men smoke and many of the country’s cities are periodically blanketed in toxic smog, so millions of people are expected to develop respiratory illnesses in the coming years.
Linde, the German industrial and medical gases company, therefore sees a huge need for oxygen and other respiratory therapies in the world’s most populous country.
Three years ago it paid $4.6bn to acquire Lincare, a US provider of homecare respiratory services and equipment.
Wolfgang Büchele, Linde chief executive, wants to use Lincare as a platform to enter China but first the company requires a licence to provide healthcare services in Chinese homes.
“Clearly the healthcare sector [in China] is a huge opportunity,” he says in his first interview since becoming chief executive in May last year. Linde will enter the market “as soon as the system allows it and it is clear how reimbursement can be achieved . . . We are in intensive discussions with the Chinese government.”