Fresenius picks up down-under hospital operator Cura Group

Fresenius Medical Care (NYSE:FMS) said today it picked up a majority stake in Australian day hospital operator Cura Group for an undisclosed amount.

Cura owns 19 private day hospitals across Australia and generated revenue of $97.6 million (AUD $127 million) during its last fiscal year, Fresenius said

Fresenius said it the purchase was part of a strategy of scaling up its 40 outpatient facilities in the Australian market to “further leverage its core competence in operating outpatient facilities, extend its dialysis network and thereby also lay the foundation for future growth,” according to a press release.

The purchase is still subject to shareholder agreements and approvals, Fresenius said.

Last month, CytoSorbents Corp. (NSDQ:CTSO) and Fresenius said that the 2 companies expanded terms of their partnership and added a co-marketing agreement for the CytoSorb blood adsorber in countries where the therapy is available.

According to the 3-year agreement, CytoSorbents extended Fresenius’ exclusive distributorship of the device for critical care applications in France, Poland, Sweden, Denmark, Finland and Norway through 2019. In these countries, Fresenius will develop a CytoSorb CRRT kit that will include its compatible blood tubing set and it must meet minimum quarterly orders and payments.

The post Fresenius picks up down-under hospital operator Cura Group appeared first on MassDevice.

from MassDevice http://ift.tt/2jMb2a1