FRANKFURT 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)