Fresenius still awaiting FTC approval for NxStage acquisition

Fresenius (NYSE:FMS) said last Friday that it is still in the process of seeking approval from the U.S. Federal Trade Commission for its $2 billion merger with NxStage Medical (NSDQ:NXTM).

The tie-up, which was delayed by NxStage in October in light of the FTC investigation, has been in the works for nearly a year and a half, having originally been announced last August.

In an update released late last week, Fresenius Medical Care said that it is still seeking approval from the agency, and that it expects the acquisition to close early next year, according to a press release.

The hoped-for closing date was pushed to February 5, 2019 in October, though at the time Fresenius was hopeful it could see the acquisition complete before the end of 2018.

In July, the German renal care giant and NxStage extended the deal’s closing date by 90 days, from August 7 to Nov. 5, but said they still expected to close the deal this year.

The FTC said a year ago that it wanted more information on the deal’s details; Fresenius is a NxStage customer, complicating its anti-monopoly implications. Last July, NxStage agreed to deal its Medisystems bloodlines business to B. Braun in a bid to mollify the FTC’s concerns.

The post Fresenius still awaiting FTC approval for NxStage acquisition appeared first on MassDevice.

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