Fre­se­nius agrees to take ma­jor­ity stake in na­tional physician com­pany

Modern Healthcare - - LATE NEWS - —Gregg Blesch

Fre­se­nius Med­i­cal Care, one of the big­gest dial­y­sis providers in the U.S., has an agree­ment to take a $600 mil­lion stake in Sound Physi­cians, be­com­ing its ma­jor­ity share­holder.

With the in­vest­ment, the Bad Hom­burg, Ger­many-based com­pany fol­lows in com­peti­tor DaVita Health­Care Part­ners’ foot­steps in assem­bling the re­sources to man­age a broader spec­trum of care for its pa­tients, who typ­i­cally have mul­ti­ple chronic con­di­tions. Sound Physi­cians, head­quar­tered in Ta­coma, Wash., has more than 1,000 hos­pi­tal­ist and post-acute physi­cians prac­tic­ing across the U.S., ac­cord­ing to the com­pany’s web­site.

“This in­vest­ment in Sound’s in­pa­tient ex­per­tise is a sig­nif­i­cant step for­ward in our care-co­or­di­na­tion strat­egy,” Ron Kuer­b­itz, CEO of Fre­se­nius Med­i­cal Care North Amer­ica, said in news re­lease an­nounc­ing the deal Fri­day. The com­pany op­er­ates 2,150 dial­y­sis clin­ics and 53 vas­cu­lar-care cen­ters, as well as a re­nal phar­macy and clin­i­cal labs.

Fre­se­nius said it ex­pected the deal to close within 10 days; Sound Physi­cians is ex­pected to gen­er­ate about $500 mil­lion in rev­enue for Fre­se­nius in the next 12 months.

In 2012, DaVita paid $4.4 bil­lion to ac­quire med­i­cal group oper­a­tor Health­Care Part­ners as part of an effort trans­form it­self into an in­te­grated de­liv­ery com­pany.

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