Private equity-owned, Hungary-headquartered medical services company Euromedic International has sold dialysis care division International Dialysis Centres to Fresenius Medical Care, the world’s largest dialysis services provider.
The deal, which is worth €485m, is part of the company’s drive to divest non-core assets as it moves to focus on its diagnostics and cancer treatment businesses, and is expected to close within the next few months.
Euromedic is joint-owned by BAML Capital Partners, the equity arm of Bank or America Corporation, Swiss healthcare and biopharma-focused investor Ares Life Sciences, and London private equity firm Montagu.
Euromedic is the largest provider of dialysis services in Eastern Europe, treating over 8,200 patients in nine countries, while Fresenius Medical Care currently provides renal therapy to over 210,000 patients internationally.
“Eastern Europe is a key component of our overall growth strategy, and we are convinced that Euromedic’s HD operations will be an excellent fit with those of Fresenius Medical Care,” said Fresenius CEO Ben Lipps.
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