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- Fresenius Medical Care AG & Co (NYSE:FMS) has agreed to merge its U.S. unit Fresenius Health Partners with medical services groups InterWell Health and Cricket Health to expand in the care of earlier stages of kidney disease.
- The new company, which will be fully consolidated by Fresenius Medical Care as the majority owner and operate under the InterWell Health brand, is valued at $2.4 billion.
- The merger brings together Fresenius Health Partners, InterWell Health's clinical care models, a strong network of 1,600 nephrologists, and Cricket Health's tech-enabled care model that utilizes the StageSmart platform.
- Related: Fresenius's Q4 Operating Income Hit By COVID-19 Related Headwinds, Targets Earnings Growth In FY22.
- The three-way merger would increase Fresenius Medical Care's total addressable market in the U.S. from around $50 billion to around $170 billion, the statement said.
- Financial terms were not disclosed. FMS expects the transaction could close in the second half of this year.
- Rice Powell, CEO of Fresenius Medical Care, said: "This effort is an important next step in executing Fresenius Medical Care's growth strategy 2025 to further expand along the renal care continuum."
- Price Action: FMS shares are down 2.36% at $32.72 during the market session on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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