August 2, 2011 6:54 PM
Four Firms Advise as Fresenius Spends $2 Billion on Dialysis Centers
Posted by Dan Kaplan
Fresenius Medical Care announced Tuesday that it has agreed to pay more than $2 billion to acquire a pair of U.S. dialysis chains in two separate deals.
Germany-based Fresenius will pay $1.7 billion to acquire Liberty Dialysis Holdings of Mercer Island, Washington, and $385 million for Glen Rock, Pennslyvania-based American Access Care. The acquisitions will add roughly 19,000 U.S. patients and $1 billion in annual revenue to Fresenius’s existing U.S. business, the company said.
The American Access Care acquisition is expected to close in the fourth quarter the year, with the Liberty Dialysis purchase to be finalized in early 2012.
Baker McKenzie represented Fresenius in the Liberty Dialysis deal. The firm’s team on the transaction was led by New York corporate partner Alan Zoccolillo and counsel Charles Niemeth. New York tax partner Jonathan Stevens and Washington, D.C., antitrust partners Katie Funk and Brian Burke also advised on the matter. The firm has represented Fresenius for more than 20 years, according to a Baker spokeswoman.
Fresenius’s in-house team included chief legal officer Ronald Kuerbitz and deputy
Read More from the Article Source: Full Article
