Ad-hoc | 15 February 2006 07:56
Fresenius Medical Care Announces Signing of Definitive Agreement to Divest Facilities in Connection with Renal Care Group Acquisition
Ad hoc announcement transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Fresenius Medical Care Announces Signing of Definitive Agreement to Divest
Facilities in Connection with Renal Care Group Acquisition
Fresenius Medical Care AG & Co. KGaA (“the Company”) today announced that
its wholly-owned subsidiary Fresenius Medical Care Holdings, Inc. and Renal
Care Group, Inc. (NYSE:RCI) have entered into a definitive agreement to
sell approximately 100 dialysis clinics serving on average approximately 60
to 65 patients per clinic to National Renal Institutes, Inc., a wholly
owned subsidiary of DSI Holding Company, Inc. (DSI). The execution of this
agreement is an important step toward concluding the review by the United
States Federal Trade Commission (FTC) of Fresenius Medical Care’s
acquisition of Renal Care Group.
The purchase price for the divested clinics is approximately $450 million
to be paid in cash, subject to post-closing adjustments for working capital
and other routine matters. The sale of the clinics is expected to close
shortly after the completion of Fresenius Medical Care’s acquisition of
Renal Care Group, Inc.
The Company is very pleased to have reached an agreement with such a
qualified and committed buyer at a facility valuation that is comparable to
recently announced transactions in the renal industry. The Company is
confident that National Renal Institutes is as committed as Fresenius
Medical Care and Renal Care Group to continuing to provide high-quality
care for its patients while the Company accomplishes a smooth and prompt
transition that supports its employees and affiliated physicians. The
Company looks forward to completing its merger with Renal Care Group, which
is targeted to close on or before March 31, 2006, subject to meeting all
closing conditions including final approval by the FTC.
Following the completion of the acquisition of Renal Care Group, Fresenius
Medical Care will own and operate approximately 1,500 dialysis clinics in
North America, which will serve approximately 115,000 patients.
Fresenius AG (WKN 578560, 578563) holds approximately 37% of Fresenius
Medical Care AG & Co. KGaA’s capital.
Fresenius Medical Care AG & Co. KGaA,
Represented by Fresenius Medical Care Management AG, Board of Management,
Bad Homburg v.d.H., February 15, 2005
(c)DGAP 15.02.2006
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language: English
emitter: Fresenius Medical Care AG & Co. KGaA
Else-Kröner-Straße 1
61352 Bad Homburg Deutschland
phone: +49 (0) 6172- 609 2525
fax: +49 (0) 6172- 609 2301
email: ir-fms@fmc-ag.com
WWW: www.fmc-ag.de
ISIN: DE0005785802, DE0005785836,
WKN: 578580, 578583
indexes: DAX
stockmarkets: Amtlicher Markt in Frankfurt; Freiverkehr in Berlin-Bremen,
Hannover, Stuttgart, München, Hamburg, Düsseldorf; Foreign
Exchange(s) NYSE
End of News DGAP News-Service
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