Fresenius closes $2B NxStage buyout, settles FCPA case for $255m

Fresenius Medical Care (NYSE:FMS; ETR:FRE) said today that it closed the $2 billion acquisition of NxStage Medical and settled self-reported violations of the U.S. Foreign Corrupt Practices Act for nearly $255 million. The $30-per-share deal for the Lawrence, Mass.-based home hemodialysis pioneer, first announced in August 2017, was initially slated to close by the end of that year. But it was delayed several times by the government shutdown this year and by the U.S. Federal Trade Commission, which only cleared the transaction last week. To mollify the anti-trust regulators, NxStage last July agreed to deal its Medisystems bloodlines business to B. Braun. “The closing of this transaction is an important milestone in enhancing our patients’ choice of dialysis treatment modality,” CEO Rice Powell said in prepared remarks. “By combining NxStage’s capabilities with our broad product and service offering, we can help patients to live even more independently. In addition to broadening our product portfolio, this acquisition positions Fresenius Medical Care to benefit from the growing trend toward home-based therapies.” “It’s a great pleasure to welcome our new NxStage colleagues. With their strong culture of innovation and transformation, they will help us to realize our vision of delivering access to superior patient care and outcomes in a lower-cost-of-care home setting to all the patients we care for. We are excited to execute...
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Legal News Mergers & Acquisitions Wall Street Beat Fresenius NxStage Medical Inc. Source Type: news