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Fresenius Medical Care Expands Dialysis Services Business in Russia



6/30/2010 6:49:38 AM

BAD HOMBURG, Germany--(BUSINESS WIRE)--Fresenius Medical Care AG & Co. KGaA, the world’s largest provider of dialysis products and services, is expanding its dialysis services business in the Russian Federation. The company announced today that it has signed an agreement to acquire KNC (KRAEVOY NEFROLOGICHESKIY CENTR), a private operator of dialysis clinics in Russia’s Krasnodar region. The acquired operations will add approximately $25 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.

By acquiring KNC, Fresenius Medical Care intends to strengthen its position in the Russian Federation’s growing dialysis services market, where today more than 20,000 patients require a regular and life-sustaining renal replacement therapy. Fresenius Medical Care currently operates five dialysis clinics treating around 570 patients and is the leading provider of dialysis products in Russia. KNC currently treats around 1,000 patients in five dialysis clinics located in Krasnodar, a region situated approximately 1,200 kilometers south of Moscow, on the Black Sea. KNC is the only provider of dialysis services in Krasnodar, which at an estimated patient growth of more than 10% per year is one of the regions with the highest demand for dialysis services in the Russian Federation.

In order to meet this rising demand, Fresenius Medical Care plans to expand the capacity of the acquired clinics directly upon closing of the acquisition. “We are very pleased that we soon will be able to provide both high-quality dialysis products and services to Krasnodar’s patients,” said Dr. Emanuele Gatti, chief executive officer for Europe, Latin America, the Middle East and Africa as well as global chief strategist of Fresenius Medical Care. “While we seek to enhance our presence in Russia on a long-term basis, our first aim will be to accommodate the large number of patients in Krasnodar who until now have been unable to receive treatment due to a lack of capacities.”

Fresenius Medical Care is the world's largest integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure, a condition that affects more than 1.89 million individuals worldwide. Through its network of 2,580 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 198,774 patients around the globe. Fresenius Medical Care also is the world's leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME, FME3) and the New York Stock Exchange (FMS, FMS/P).

For more information about Fresenius Medical Care, visit the company’s website at www.fmc-ag.com.

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 certain factors, including changes in business, economic and competitive conditions, regulatory reforms, 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 AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.

Contact:

Fresenius Medical Care AG & Co. KGaA Investor Relations: Oliver Maier, + 49 6172 609 2601 Fax: + 49 6172 609 2301 ir@fmc-ag.com or North America: Terry L. Morris, + 1 800-948-2538 Fax: + 1 615-345-5605 ir@fmc-ag.com www.fmc-ag.com


Read at BioSpace.com


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