Fresenius Medical Care, a provider of dialysis products and services, has signed a purchase agreement to acquire International Dialysis Centers (IDC), Euromedic International's dialysis service business.
With the acquisition, Fresenius Medical aims to expand its activities in the dialysis care market, especially in Eastern Europe, and Euromedic aims to prioritize its investments in the diagnostics and cancer treatment fields.
On completion, the acquired operations will add approximately $180m in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.
Fresenius Medical Care CEO Ben Lipps said that Bringing together the experienced teams of both companies and our focus on high-quality patient care will give us an opportunity to meet the growing needs of the public sector in the fast-growing markets.
Euromedic CEO Richard di Benedetto said that they are proud of what they have built up in the dialysis services space.
"We strongly believe that Fresenius Medical Care will be an excellent home for IDC and will enable IDC to build on its current strength across Eastern Europe and to continue its longstanding track record of success," Benedetto said.