Corporate | 2 September 2016 09:33
Fresenius Medical Care AG & Co. KGaA acquires dialysis service provider Sandor Nephro Services in India
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DGAP-News: Fresenius Medical Care AG & Co. KGaA / Key word(s): Investment
September 2, 2016 Fresenius Medical Care acquires dialysis service provider Sandor Nephro Services in India Bad Homburg, Germany – Fresenius Medical Care AG & Co. KGaA (“Fresenius Medical Care”; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world’s largest provider of dialysis products and services, today announced to acquire 85% of equity interest in the Indian dialysis group Sandor Nephro Services from a group of investors. The parties involved agreed not to disclose financial terms of the transaction. Established in 2011, Sandor Nephro Services is India’s second largest dialysis care provider. Under the brand name “Sparsh Nephrocare” the company operates a network of more than 50 dialysis centers across the country. With the acquisition, Fresenius Medical Care will clearly strengthen its core business in one of the fastest growing economies of the world. Sandor Nephro Services is expected to generate revenue of around $3 million in full year 2016. Fresenius Medical Care expects the investment to be accretive in 2017 on earnings after tax. Rice Powell, Chief Executive Officer of Fresenius Medical Care, said: “With the acquisition of Sandor Nephro Services we will reach a new scale in the dialysis business in India. We have been in India for more than 15 years primarily with our product portfolio and we are now taking the next important step. This is a unique opportunity to become one of the major players in a market where we expect a strong growth in the overall economy and where we will help treating chronically ill dialysis patients.” “We are very pleased to join the Fresenius Medical Care Group. After building up one of the most successful dialysis chains in India, we now have a strong partner on our side to further grow the business” said Saurav Panda who co-founded Sparsh Nephrocare together with Gaurav Porwal. Both committed themselves to stay with the company for at least three years.” Fresenius Medical Care is the world’s largest provider of products and services for individuals with renal diseases, of which around 2.8 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,504 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 301,548 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 additional medical services in the field of Care Coordination. For more information visit the company’s website at www.freseniusmedicalcare.com .
Disclaimer
2016-09-02 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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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: | ir@fmc-ag.com | |
| Internet: | www.freseniusmedicalcare.com | |
| ISIN: | DE0005785802, , | |
| WKN: | 578580, 578583 | |
| Indices: | DAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; NYSE | |
| End of News | DGAP News Service |