Fresenius Medical Care: sells US unit, cuts 2018 target

(CercleFinance.com) - Fresenius Medical Care, the world's largest provider of dialysis products and services, said it has reached an agreement to sell its US business Sound to an investment consortium for 2.
15 billion dollars (about 1.8 billion euros).

The unit of German health conglomerate Fresenius said the deal will enable the group to optimize its US care coordination portfolio, generating a pre-tax book gain of approximately 800 million euros.

Alongside this news, Fresenius Medical Care has also reduced its target for revenue growth for 2018 to 5%-7% at constant currencies, compared to around 8% previously, mainly due to the recent reduction in dosing of calcimimetic drugs.

The shift of calcimimetic drugs from the group's pharmacy business into the dialysis service business in the US is acting as a headwind on revenue growth for fiscal 2018, it said.

The stock is currently down 3.7% at 81.8 euros in Frankfurt.

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