Fresenius Medical Care to Buy NxStage Medical
August 07 2017 - 2:42AM
Dow Jones News
By William Wilkes
FRANKFURT--Fresenius Medical Care AG & Co. KGaA said on
Monday it would acquire NxStage Medical Inc. for around $2 billion
to boost its kidney dialysis business.
The German company, which is the world's largest provider of
dialysis products and services, said it would acquire all
outstanding shares of NxStage for $30 a share. The deal has been
approved by NxStage's board, but still requires approval by NxStage
stockholders and regulators, Fresenius Medical Care said in a
statement.
NxStage, headquartered in Lawrence, Massachussetts produces
products aimed at the treatment of end-stage kidney disease and
acute kidney failure. The company posted revenues of $366 million
in 2016.
Fresenius Medical Care said the deal would be cash and debt
financed, with before-tax cost synergies of around $80-$100 million
expected over three to five years. The acquisition will likely
involve intergration costs of around $150 million, the German
company said.
Fresenius Medical Care is part of German healthcare company
Fresenius SE & Co. KGaA (FRE.XE).
Write to William Wilkes at william.wilkes@wsj.com
(END) Dow Jones Newswires
August 07, 2017 02:27 ET (06:27 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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