Nox Medical has merged with its US sister company FusionHealth, gets Alfa Frumtak as investor in the company.

Nox Medical, a Reykjavik, Iceland-based medical equipment company, announced in a press release that it merged its operations with its sister company based in USA, FusionHealth.

Following the deal, the company will operate under the name Nox Health.

In conjunction with the merger of the companies, Nox Medical will add Icelandic private equity firm Alfa Frumtak as shareholders in the company. Alfa Framtak will make a financial contribution that will give a roughly 13% stake in the company.

The merger will create one of the largest companies in the sleeping solutions vertical, with a turnover of over ISK 4 billion ($32M) in 2019. The company, led by co-founder Sigurjón Kristjánsson, employs around 200 people, of which more than 50 in Iceland.

Nox Medical and FusionHealth are both rooted in the sleep research company Flaga and Helga Kristbjarnarson, a pioneer in sleep research worldwide. The combined company has offices in Iceland, Atlanta and Boulder in Colarado, USA.