Fresenius Medical Eyes Acquisitions in 2012 Worth Up to $300 MLN
Fresenius Medical Care AG, the world’s biggest provider of kidney dialysis, aims to do more acquisitions next year and increase volume to offset lower government reimbursements in the U.S.
“This has been a year of dramatic change in terms of reimbursement,” Chief Executive Officer Ben Lipps said in an interview today.
The company will likely spend up to $300 million on acquisitions next year, once it completes the purchase of Liberty Dialysis Holdings Inc. in the U.S. for $1.7 billion, Chief Financial Officer Michael Brosnan said in the same interview. The Liberty transaction is on track to close in the first quarter, he said.
“We are selective about where we grow, but there’s a lot of opportunity in the world,” he said.
The company saw reimbursement schedules improve during the third quarter by four days in the U.S. and three days internationally compared with the previous quarter, Brosnan said. This and cost controls helped the company offset lower prices in the U.S., he said.
To contact the reporter on this story: Allison Connolly in Frankfurt at email@example.com
To contact the editor responsible for this story: Allison Connolly at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.