European Expansion

Fresenius Shares Jump on Hospital Purchase

An ambulance is seen parked in front of the Helios hospital Berlin, operated by Fresenius SE, in Berlin, Germany, on Tuesday, June 5, 2012. Rhoen Klinikum AG's management said it will back the 3.1 billion-euro ($3.9 billion) takeover offer from Fresenius SE, contingent on an agreement to maintain certain jobs and locations at the German hospital operator. Photographer: Michele Tantussi/Bloomberg
Hospital group Fresenius Helios is expanding in Europe.
  • Why it matters

    Why it matters

    Fresenius will boost its presence in Europe through the purchase of the Spanish private hospital operator and increase group annual sales by nearly 10 percent.

  • Facts

    Facts

    • Quirónsalud is Spain’s largest private hospital operator, according to Fresenius.
    • Fresenius said it will pay for the acquisition mostly by selling new debt, totaling €5.36 billion, or $6 billion.
    • Fresenius unit Fresenius Helios, which is buying Quirónsalud, operates 112 hospitals and clinics in Germany.
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    Audio

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German health care group Fresenius will buy Quirónsalud, Spain’s largest private hospital operator, for €5.76 billion, or $6.42 billion, in a major expansion in Europe.

The German company, which is Europe’s largest publicly-traded health care group, said late on Monday it had agreed to buy the Spanish hospital chain from private equity firm CVC and the Spanish company’s own management.

Fresenius, based in Bad Homburg, a suburb of Frankfurt, is through its listed subsidiary, Fresenius Medical Care, the world’s largest provider of dialysis services. The group, which owns 31 percent of Fresenius Medical Care, makes 46 percent of its revenues in North America, but its hospital unit Fresenius Helios was entirely focused on Germany.

 

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