- Divestment of assets includes four separate country
transactions to DaVita Inc. for USD 300
million
- Transactions further reduce the Company`s clinic footprint in
Latin America, following the exit
from Argentina at the end of
2023
- Expected to close throughout 2024
- Proceeds to be used to reduce debt
BAD HOMBURG, Germany, March 5,
2024 /PRNewswire/ -- Fresenius Medical Care, the
world's leading provider of products and services for individuals
with renal diseases, today announced the sale of its dialysis
clinic networks in Brazil,
Colombia, Chile and Ecuador to DaVita Inc. for a total transaction
price of USD 300 million. Subject to
regulatory approvals in Brazil,
Colombia and Ecuador, the transactions represent another
milestone in Fresenius Medical Care's portfolio optimization
program, with each expected to close throughout 2024.
"We continue to move at pace in optimizing our portfolio, to
reduce complexity and improve profitability. This is a key element
of our transformational journey," said Helen Giza, CEO for Fresenius Medical Care AG.
"I also wanted to take a moment to thank our teams in Brazil, Colombia, Chile, and Ecuador for their incredible commitment,
passion and dedication in serving our patients with the
world-class, high-quality care they deserve."
These four separate transactions in aggregate represent 154
dialysis clinics, more than 7,100 employees, more than 30,000
dialysis patients, and recorded pro-forma revenue of approx.
EUR 370 million in 2023.
The associated net book loss for the four Latin America transactions is estimated to
negatively impact Fresenius Medical Care by around EUR 200 million in the full year 2024, thereof by
around EUR 140 million in the first
quarter of 2024, and will be treated as a special item in operating
income. Depending on exchange rates, the Company expects net cash
proceeds of around EUR 250 million in
2024 from these transactions.
All transactions that are currently signed as part of the
Company's portfolio optimization plan are estimated to negatively
impact Fresenius Medical Care by around EUR
230 million in the full year 2024, thereof by around
EUR 145 million in the first quarter
of 2024, and will be treated as a special item in operating
income.
About Fresenius Medical Care:
Fresenius Medical Care is the world's leading provider of products
and services for individuals with renal diseases of which around
4.1 million patients worldwide regularly undergo dialysis
treatment. Through its network of 3,925 dialysis clinics, Fresenius
Medical Care provides dialysis treatments for approx. 333,000
patients around the globe. Fresenius Medical Care is also the
leading provider of dialysis products such as dialysis machines or
dialyzers. Fresenius Medical Care is listed on the Frankfurt Stock
Exchange (FME) and on the New York Stock Exchange (FMS).
For more information visit the Company's website
at www.freseniusmedicalcare.com.
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 various factors, including, but not limited to, changes in
business, economic and competitive conditions, legal changes,
regulatory approvals, impacts related to the COVID-19 pandemic
results of clinical studies, 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's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care
does not undertake any responsibility to update the forward-looking
statements in this release.
Media contact
Christine Peters
T +49 160 60 66 770
christine.peters@freseniusmedicalcare.com
Contact for analysts and investors
Ilia Kürten
T +49 6172 268 59 66
ilia.kuerten@freseniusmedicalcare.com
www.freseniusmedicalcare.com
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SOURCE Fresenius Medical Care Holdings, Inc.