Fresenius Medical Care is acquiring a majority stake in Cura Group and scales up in Australia
Fresenius Medical Care is acquiring a majority stake in Cura Group and scales up in Australia
Fresenius Medical Care, the world’s largest provider of dialysis products and services, acquires a majority stake in Cura Group (“Cura”), a leading operator of high-quality day hospitals in Australia.
In its 19 private day hospitals across Australia, Cura provides a variety of specialized ambulant services, such as ophthalmology and orthopedic surgeries in an outpatient setting. Cura was established in 2008 and generated revenue of AUD 127 million (EUR 87 million) in the financial year 2015/2016.
Fresenius Medical Care is addressing activities around a coordinated care approach to treat patients in a more holistic way. As a consequence, Fresenius Medical Care is strengthening its portfolio by scaling up to around 40 outpatient facilities in the Australian market. This step allows Fresenius Medical Care to further leverage its core competence in operating outpatient facilities, extend its dialysis network and thereby also lay the foundation for future growth for the new setup in the Australian market.
This transaction is subject to remaining shareholder agreements, authority approval and will be financed through a combination of cash and debt. Fresenius Medical Care expects the investment to be accretive on operating earnings in the first year after closing.
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 3,579 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 306,366 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)
Disclaimer
This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.
