Euromedic International, the Pan-European leader in medical services, today announces that it has signed a definitive agreement to divest International Dialysis Centres ("IDC"), its dialysis care business, to Fresenius Medical Care AG & Co, the world's largest provider of dialysis products and services. 

The sale of IDC forms part of Euromedic's broader strategy to focus on its leading markets positions in the field of diagnostics and cancer treatment. The purchase price will be €485 million. The transaction remains subject to receipt of all necessary regulatory approvals and is expected to close over the coming months. 

Euromedic is the largest provider of dialysis services in Eastern Europe, treating over 8,200 patients in 9 countries. Fresenius Medical Care, the world leader in renal therapy, currently serves more than 210,000 patients globally and more than 17,000 patients in Eastern Europe.

Commenting on the transaction, Richard di Benedetto, Chief Executive Officer of Euromedic, said: "We are very proud of what we have built up in the dialysis services space. This transaction is testimony to the tremendous skills and high quality of our IDC employees and the impeccable service afforded our patients. We strongly believe that Fresenius Medical Care will be an excellent home for IDC and will enable IDC to build on its current strength across Eastern Europe and to continue its long standing track record of success. In addition, this transaction will allow Euromedic to fully dedicate time and resources to materially advance our European market leading positions in the highly attractive fields of diagnostics and cancer treatment."

Ben Lipps, Chief Executive Officer of Fresenius Medical Care, said: "Eastern Europe is a key component of our overall growth strategy, and we are convinced that Euromedic's HD operations will be an excellent fit with those of Fresenius Medical Care. Bringing together the experienced HD teams of both companies and our focus on high-quality patient care will give us a unique opportunity to meet the growing needs of the public sector in these fast growing markets."

Bank of America Merrill Lynch is acting as exclusive financial adviser to Euromedic on this transaction. Linklaters and White & Case are serving as legal counsel.

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