May 3, 2017 / 6:27 AM / 8 months ago

Dialysis provider FMC posts higher earnings

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.

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

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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