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Fresenius Medical Care reaches agreement with Bumrungrad International to acquire Asia Renal Care
The transaction will be subject to antitrust notification in Taiwan and Singapore. If approved and closed, the acquired operations will add approximately $80 million in annual revenue and be accretive to earnings in the first year after closing of the transaction.
Founded in 1997, Asia Renal Care has since become the second largest provider of dialysis and related services in the Asia-Pacific region (behind Fresenius Medical Care). Asia Renal Care operates more than 100 clinics throughout Asia treating about 6,200 patients. In 2007 Asia Renal Care became a wholly owned subsidiary of Bumrungrad International Ltd., an associate company of Bumrungrad Hospital PCL.
The acquisition of Asia Renal Care will strengthen Fresenius Medical Care's leading market position in the Asia-Pacific region, where more than 680,000 patients require regular and lifesustaining dialysis treatment. The Asian markets are set to experience strong growth in the next few years. The number of dialysis patients is forecast to grow to over 1 million within the next five years.
"We are very pleased to further strengthen our activities and presence in dialysis services across most of the key Asian countries. Through this strategic and significant acquisition, we add to our existing leading position a large business managed by excellent professionals and very valuable partners in every single market," said Roberto Fusté, Member of the Management Board and Chief Executive Officer for Asia-Pacific.
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