BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius Medical Care AG (FMS) said that it signed a definitive agreement to divest its controlling interest in Sound Inpatient Physicians Holdings, LLC to an investment consortium led by Summit Partners, for total transaction proceeds of $2.15 billion or 1.76 billion euros.
Sound Inpatient is a physician organization providing services across the acute episode of care - through emergency medicine, critical care, hospital medicine, transitional care and advisory services.
In 2017, Sound generated revenues of around 1.25 billion euros and EBIT of around 90 million euros with 3,500 employees.
The divestment is expected to generate a pre-tax book gain for Fresenius Medical Care of about 800 million euros. Closing of the transaction is subject to regulatory approvals and anticipated late in 2018.
The financial targets for 2018 and 2020 do not include the effects of this divesture or the planned acquisition of NxStage Medical, Inc.
Copyright RTT News/dpa-AFX