Fresenius Medical Care Corporation (NYSE:FMS) – U.S. unit of Fresenius Medical Care announces $2.4 billion tri-party merger agreement

0
  • Fresenius Medical Care AG & Co (NYSE: FMS) has agreed to merge its U.S. unit Fresenius Health Partners with medical services groups InterWell Health and Cricket Health to expand care for the early stages of kidney disease.
  • The new company, which will be fully consolidated by Fresenius Medical Care as majority owner and operate under the InterWell Health brand, is valued at $2.4 billion.
  • The merger brings together Fresenius Health Partners, InterWell Health’s clinical care models, a strong network of 1,600 nephrologists, and Cricket Health’s technology care model using the StageSmart platform.
  • Related: Fresenius Q4 Operating Profit Hit by COVID-19 Headwinds, Targets FY22 Profit Growth.
  • The three-party merger would increase Fresenius Medical Care’s total addressable market in the United States from about $50 billion to about $170 billion, according to the release.
  • Financial terms were not disclosed. FMS expects the transaction to close in the second half of this year.
  • Rice Powell, CEO of Fresenius Medical Care, said, “This effort is an important next step in executing Fresenius Medical Care’s 2025 growth strategy to further expand the renal care continuum.
  • Price action: FMS shares are down 2.36% at $32.72 in Monday’s last check trading session.
Share.

Comments are closed.