By Sarah Sloat
FRANKFURT--German dialysis company Fresenius Medical Care AG
(FME.XE) said Thursday it plans to acquire Cogent Healthcare
through its Sound Physicians Inc. holding, widening its presence in
the U.S. hospitalist industry.
Financial details weren't disclosed. Fresenius Medical Care,
which is the majority shareholder in Sound Physicians, said the
acquisition will be financed through available cash. The purchase
should be accretive to earnings within 18-24 months after the
transaction closes, expected this quarter.
Cogent should generate $250 million in revenue next year,
Fresenius Medical Care said.
Cogent is a private hospitalist and intensivist company that
provides clinical solutions at acute and post-acute care
facilities. Sound Physicians is a hospital in-patient company that
aims to improve the quality of hospital care while reducing
patients' healthcare costs.
"With this acquisition, Sound Physicians continues to augment
our network of dialysis, cardiac and vascular care centers, renal
pharmacy and full service and specialty laboratories to help us
better address the full spectrum of our patients' health-care
needs," Fresenius Medical Care said.
Combined, Cogent and Sound will serve more than 180 hospitals
with more than 2,250 providers including physicians and advanced
care practitioners.
Write to Sarah Sloat at sarah.sloat@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires