21.04.2018
Fresenius Medical Care AG & Co. KGaA DE0005785802
DGAP-Adhoc: Fresenius Medical Care AG & Co. KGaA: Fresenius Medical Care sells Sound Inpatient Physicians Holdings for $2.15 billion
DGAP-Ad-hoc: Fresenius Medical Care AG & Co. KGaA / Key word(s):
Disposal/Investment
Fresenius Medical Care AG & Co. KGaA: Fresenius Medical Care sells Sound
Inpatient Physicians Holdings for $2.15 billion
21-Apr-2018 / 14:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Fresenius Medical Care, the world's largest provider of dialysis products
and services, today has signed a definitive agreement to divest its
controlling interest in Sound Inpatient Physicians Holdings, LLC ("Sound")
to an investment consortium led by Summit Partners, L.P. for total
transaction proceeds of $2.15 billion (EUR 1.76 billion1). The divestment is
expected to generate a pre-tax book gain of approximately EUR 800 million1,2.
In 2014, Fresenius Medical Care invested in becoming the majority
shareholder in Sound, which thereafter acquired Cogent Healthcare, Inc. The
investments by Fresenius Medical Care were targeted to learn about and
broaden its experience in value-based care programs of those businesses.
Following the successful application of this knowledge relevant for
value-based programs and efficient patient coordination into Fresenius
Medical Care, the Company is now in a position to divest the shareholding
and free up the invested capital for further growth investments.
Closing of the transaction is subject to regulatory approvals and
anticipated to occur late in 2018. The financial targets for 2018 and 2020
do not include the effects of this divesture.
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[1] EUR/USD 1.22
[2] based on the company's latest available valuation of the North American
business segment
Fresenius Medical Care is the world's largest provider of products and
services for individuals with renal diseases of which around 3.2 million
patients worldwide regularly undergo dialysis treatment. Through its network
of 3,752 dialysis clinics, Fresenius Medical Care provides dialysis
treatments to 320,960 patients around the globe. Fresenius Medical Care is
also the leading provider of dialysis products such as dialysis machines or
dialyzers. Along with the core business, the company focuses on expanding
the range of related medical services in the field of Care Coordination.
Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and
on the New York Stock Exchange (FMS).
For more information visit the company's website at
www.freseniusmedicalcare.com.
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Language: English
Company: Fresenius Medical Care AG & Co. KGaA
Else-Kröner-Straße 1
61352 Bad Homburg
Germany
Phone: +49 (0) 6172- 609 2525
Fax: +49 (0) 6172- 609 2301
E-mail: [email protected]
Internet: www.freseniusmedicalcare.com
ISIN: DE0005785802
WKN: 578580
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange; NYSE
End of Announcement DGAP News Service
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677275 21-Apr-2018 CET/CEST
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Medtech , 578580 , FME , XETR:FME