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Fresenius Medical Care enters dialysis services market in Ecuador
Bad Homburg, Germany, (PresseBox) -
Fresenius Medical Care AG & Co. KGaA ("the company"; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world's largest provider of dialysis products and services, is entering the dialysis services market in Ecuador. Effective December 1, the company has acquired eight private dialysis clinics which currently treat over 1,000 dialysis patients. The clinics are located in highly populated areas of Ecuador: Manabi province in the northwest, Guayaquil in the southwest, and the capital Quito. Fresenius Medical Care acquired them from an Ecuadorian family. The clinics will add around $17 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction. Both parties have agreed not to disclose the purchase price.
Fresenius Medical Care has also agreed to acquire Nefrocontrol S.A., its local distribution partner in Ecuador since 1992, from the same owners. This acquisition will add another $7.5 million in annual revenue.
Both acquisitions will significantly strengthen Fresenius Medical Care's position in the dialysis market in Ecuador - a country in which currently over 6,000 patients require regular dialysis treatment. The number of dialysis patients in Ecuador is growing more rapidly than in most Latin American countries. To meet this rising demand, Fresenius Medical Care plans to expand the capacity of the acquired clinics.
"As a vertically integrated provider, we're delighted to offer patients in Ecuador top-quality dialysis services and products from a single source," said Dr. Emanuele Gatti, chief executive officer for Europe, Latin America, the Middle East and Africa, and global chief strategist of Fresenius Medical Care. "We aim to further expand our presence in Ecuador in the medium to long term. Our main objective is to provide the growing number of dialysis patients in the country with the best treatment possible."
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.
Fresenius Medical Care has also agreed to acquire Nefrocontrol S.A., its local distribution partner in Ecuador since 1992, from the same owners. This acquisition will add another $7.5 million in annual revenue.
Both acquisitions will significantly strengthen Fresenius Medical Care's position in the dialysis market in Ecuador - a country in which currently over 6,000 patients require regular dialysis treatment. The number of dialysis patients in Ecuador is growing more rapidly than in most Latin American countries. To meet this rising demand, Fresenius Medical Care plans to expand the capacity of the acquired clinics.
"As a vertically integrated provider, we're delighted to offer patients in Ecuador top-quality dialysis services and products from a single source," said Dr. Emanuele Gatti, chief executive officer for Europe, Latin America, the Middle East and Africa, and global chief strategist of Fresenius Medical Care. "We aim to further expand our presence in Ecuador in the medium to long term. Our main objective is to provide the growing number of dialysis patients in the country with the best treatment possible."
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.
Fresenius Medical Care AG & Co. KGaA
Fresenius Medical Care is the world's largest integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure, a condition that affects more than 2 million individuals worldwide. Through its network of 2,874 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 228,239 patients around the globe. Fresenius Medical Care is also the world's leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products.
For more information about Fresenius Medical Care, visit the Company's website at www.fmc-ag.com.
