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November 13, 2014

Fresenius subsidiary to acquire hospitalist services provider Cogent Healthcare

Germany-based Fresenius Medical Care's subsidiary Sound Physicians has signed an agreement to acquire hospitalist and intensivist services provider, Cogent Healthcare.

Germany-based Fresenius Medical Care’s subsidiary Sound Physicians has signed an agreement to acquire hospitalist and intensivist services provider, Cogent Healthcare.

Terms of the transaction were not disclosed.

With 650 providers, Cogent offers hospitalist and intensivist services to 80 hospitals in the US.

Fresenius Medical Care CEO Rice Powell said: "Sound Physicians is a critical partner in fulfilling our mission to improve the lives of every patient every day.

"The deal will allow Sound Physicians to expand its service to 180 hospitals in 35 states with more than 2,250 providers, including physicians and advanced care practitioners."

"With this acquisition, Sound Physicians continues to augment our network of dialysis, cardiac and vascular care centres, renal pharmacy and full service and specialty laboratories to help us better address the full spectrum of our patients’ health care needs."

The deal will allow Sound Physicians to expand its service to 180 hospitals in 35 states with more than 2,250 providers, including physicians and advanced care practitioners.

According to Fresenius, Cogent is expected to generate approximately $250m revenue in 2015.

Sound Physicians CEO Rob Bessler said: "Combining Cogent Healthcare’s reach with Sound Physicians’ patient-centred approach, web-based workflow platform and experienced physician leadership together clearly positions Sound Physicians as the partner of choice for the acute episode of care and the practice of choice for providers."

Subject to regulatory clearance, the transaction is expected to be completed by the end of this quarter.

Fresenius operates 3,349 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa.

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