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UPDATE 1-FMC takes control of Australian outpatient treatment chain
February 3, 2017 / 10:00 AM / 10 months ago

UPDATE 1-FMC takes control of Australian outpatient treatment chain

* Gains control of 19 outpatient centres in Australia

* Buys 70 percent stake, declines to provide price

* Australian daily says deal values Cura at US$300-340 mln

* FMC diversifying into therapeutic areas beyond kidney (Adds strategic rationale, percentage of stake taken, report on price)

FRANKFURT, Feb 3 (Reuters) - Germany dialysis specialist Fresenius Medical Care said it was buying a majority stake in Cura Group, a Australian chain of 19 outpatient treatment centres, as it diversifies further into medical areas beyond kidney failure.

The group said it was acquiring a 70 percent stake in Cura, which offers a range of treatments including ophthalmology and orthopaedic surgery, with a view to upgrading the facilities to also offer kidney dialysis.

Daily Australian Financial Review earlier cited unspecified sources as saying the deal valued Cura at A$400-450 million ($300-$340 million) including assumed debt. FMC declined to provide a price tag.

FMC has been branching out into areas related to dialysis, coordinating a range of treatments that dialysis patients typically need like cardiovascular and diabetes care.

“Fresenius Medical Care is addressing activities around a coordinated care approach to treat patients in a more holistic way,” it said in a statement on Friday.

The purchase will be financed through a combination of cash and debt and will start adding to operating earnings in the first year after closing, it said.

The deal will allow FMC, which runs more than 3,500 dialysis clinics globally, to double its facilities in Australia to around 40.

$1 = 1.3086 Australian dollars Reporting by Ludwig Burger, Patricia Weiss and Maria Sheahan; Editing by Adrian Croft and Maria Sheahan

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