King Systems buys respiratory products company

Noblesville-based King Systems Corp. has bought Emergent Respiratory Products Inc. of Irvine, Calif., in a deal valued at up to $38 million.

King took a 51-percent equity stake in Emergent on April 13 through a $3 million investment. The rest of Emergent will be bought between 2009 and 2011 for as much as $35 million.

King is owned by Bespak Plc, a publicly traded company headquartered in Great Britain. Emergent is a startup backed with venture capital.

Both make equipment for helping people breath.

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