February 27, 2017
London, UK
Morgan Stanley – European MedTech & Services Conference
Fresenius Helios closed its €5.76 billion acquisition of IDC Salud Holding S.L.U. (”Quirónsalud”) today, as planned. Quirónsalud will be consolidated as of February 1, 2017.
Of the total purchase price for Spain’s largest private hospital operator, €5.36 billion had already been debt-financed. The balance of €400 million was paid in the form of 6,108,176 new Fresenius shares issued today from authorized capital excluding subscription rights.
Quirónsalud’s network is comprised of 43 hospitals, 39 outpatient centers and about 300 Occupational Risk Prevention centers located in all economically important areas of Spain. The company has about 35,000 employees and offers the full spectrum of inpatient and outpatient care. With the acquisition, Fresenius Helios strengthens its position as Europe’s largest private hospital operator.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
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Quirónsalud is Spain’s largest hospital operator. Shown here is the Hospital Universitario Quirónsalud Madrid. (Photo: Quirónsalud) Download Image (JPG 78 KB) -
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Shown here is the Hospital Quirónsalud Bizkaia. Download Image (JPG 534 KB) -
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Quirónsalud offers the full spectrum of inpatient and outpatient care. (Photo: Quirónsalud) Download Image (JPG 312 KB)
Fresenius Helios closed its €5.76 billion acquisition of IDC Salud Holding S.L.U. (”Quirónsalud”) today, as planned. Quirónsalud will be consolidated as of February 1, 2017.
Of the total purchase price for Spain’s largest private hospital operator, €5.36 billion had already been debt-financed. The balance of €400 million was paid in the form of 6,108,176 new Fresenius shares issued today from authorized capital excluding subscription rights.
Quirónsalud’s network is comprised of 43 hospitals, 39 outpatient centers and about 300 Occupational Risk Prevention centers located in all economically important areas of Spain. The company has about 35,000 employees and offers the full spectrum of inpatient and outpatient care. With the acquisition, Fresenius Helios strengthens its position as Europe’s largest private hospital operator.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius Medical Care Holdings, Inc. (the “Company”), the North American subsidiary of Fresenius Medical Care AG & Co. KGaA (“FMC”), has reached an amicable agreement with the United States Departments of Veterans Affairs and Justice resolving reimbursement for services provided to veterans by the Company’s clinics during the period January 2009 through February 15, 2011. The agreement resolves litigation that began in March 2014.1
The Company is pleased with the agreement, and looks forward to its continued service to veterans in the United States. FMC greatly appreciates the efforts and dedication of the Departments in the interest of providing the highest level of service to veterans.
The agreement is expected to increase FMC´s recognition of revenue in 2017 by approximately EUR 100 million. The estimated net income gain attributable to shareholders of FMC is expected to be around EUR 45 to 50 million, after giving consideration to non-controlling interest and income taxes. The payment is expected to be received in due course.
1Fresenius Medical Care Holdings, Inc. v. United States, Case No. 2014 Civ. 00187 (U.S. Court of Federal Claims).
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).
For more information visit the Company’s website at www.freseniusmedicalcare.com.
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.
The United States District Court of the Eastern District of Texas on Wednesday issued a preliminary injunction prohibiting the Centers for Medicare and Medicaid Services (CMS) from implementing an interim rule that would seriously curtail the American Kidney Fund’s program for insurance premium assistance to dialysis patients.
In a joint lawsuit, dialysis providers, including Fresenius Medical Care, and the patient advocacy group Dialysis Patient Citizens have challenged the CMS’s interim rule on the grounds that it would disadvantage kidney failure patients compared with other patient groups.
The preliminary injunction follows the court’s granting of a temporary restraining order on January 12, 2017. The preliminary injunction is indefinite in duration and therefore will remain in effect as long as the court does not change it.
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).
For more information visit the Company’s website at www.freseniusmedicalcare.com.
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.