Germany's Fresenius in large E.Europe acquisition
Germany's Fresenius Medical Care, the world number one in dialysis machines, said on Tuesday it was making a 485-million-euro (647-million-dollar) acquisition to boost its presence in Eastern Europe.
The purchase of International Dialysis Centers (IDC), the dialysis service business of Euromedic International, will add 180 million dollars in annual sales and boost profits from the first year, a statement said.
IDC currently treats more than 8,200 patients in 70 clinics in nine countries, mostly in Central and Eastern Europe. Privately owned Dutch firm Euromedic is selling in order to focus on diagnostics and cancer treatment.
FMC, listed on Frankfurt's DAX 30, currently serves more than 210,000 patients globally and more than 17,000 patients in Eastern Europe, posting sales of more than 11 billion dollars in 2009.
© 2011 AFP