German health care company Fresenius Medical Care has acquired a majority stake in Cura Group, an Australian provider of day hospital facilities.
Cura Group, which owns a portfolio of 19 private day hospitals across Australia, offers a wide range of specialised ambulant services, such as ophthalmology and orthopedic surgeries in an outpatient setting.
The supplier of dialysis products and services, Fresenius Medical Care addresses activities around a coordinated care approach in order to treat patients in a better and comprehensive way. To this end, the German health care company is expanding its portfolio by scaling up to approximately 40 outpatient facilities across the Australian market.
With this, the company will be able to enhance its major competence in operating outpatient facilities, expand its dialysis network as well as lay the foundation for future growth of the new setup in the Australian market.
To be financed through both cash and debt, the completion of the acquisition transaction is subject to remaining shareholder agreements as well as regulatory authority approval.
Set up in 2008, Cura Group generated revenue of A$127m (€87m) during the financial year 2015-2016.
Through a network of 3,579 dialysis clinics, Fresenius Medical Care supplies products and services for dialysis treatments for 306,366 patients affected with renal diseases across the globe.
In September last year, Fresenius Medical Care acquired 85% of equity interest in the Indian dialysis company Sandor Nephro Services from a group of investors.