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3 months ago
Dialysis provider FMC posts higher earnings
May 3, 2017 / 6:27 AM / 3 months ago

Dialysis provider FMC posts higher earnings

1 Min Read

Fresenius Medical Care's CEO Rice Powell speaks during the company's annual news conference in Bad Homburg near Frankfurt, Germany February 22, 2017.Ralph Orlowski

FRANKFURT (Reuters) - Fresenius Medical Care (FMEG.DE), the German kidney dialysis provider which derives about three quarters of sales from North America, posted a 17 percent gain in quarterly adjusted net income, benefiting from higher reimbursement rates and lower costs of medicines for dialysis patients.

First-quarter adjusted net income of 249 million euros ($272.23 million) excluded a one-off gain of 59 million euros from settling a dispute with the U.S. Departments of Veterans Affairs and Justice over outstanding payments.

FMC switched to the euro as a reporting currency from U.S. dollars.

($1 = 0.9147 euros)

Reporting by Ludwig Burger; Editing by Maria Sheahan

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