DGAP-News

Fresenius Medical Care AG & Co. KGaA Announces Agreement to Acquire Cogent Healthcare

DGAP-News: Fresenius Medical Care AG & Co. KGaA / Key word(s):
Acquisition
Fresenius Medical Care AG & Co. KGaA Announces Agreement to Acquire
Cogent Healthcare

13.11.2014 / 08:23

---------------------------------------------------------------------

Acquisition will widen the presence in the Hospitalist industry

Bad Homburg, Germany - Fresenius Medical Care AG & Co. KGaA (the "company"
or "Fresenius Medical Care"; Frankfurt Stock Exchange: FME / New York Stock
Exchange: FMS) announced today that Sound Physicians Inc. (Sound) has
entered into an agreement to acquire Cogent Healthcare (Cogent) with more
than 650 providers, who offer hospitalist and intensivist services to more
than 80 hospitals throughout the United States. Combined, the expanded
Sound Physicians organization will now serve over 180 hospitals in 35
states with more than 2,250 providers including physicians and advanced
care practitioners. Fresenius Medical Care is the majority shareholder in
Sound.

The company expects Cogent to generate approximately $250 million in
revenue in 2015 and expects the investment to be accretive to earnings
within 18-24 months after closing including the transaction/integration
cost and potential synergies. The investment will be financed through
available cash. The parties involved agreed not to disclose the financial
terms of the acquisition.

"Sound Physicians is a critical partner in fulfilling our mission to
improve the lives of every patient every day," said Rice Powell, Fresenius
Medical Care Chief Executive Officer. "With this acquisition, Sound
Physicians continues to augment our network of dialysis, cardiac and
vascular care centers, renal pharmacy and full service and specialty
laboratories to help us better address the full spectrum of our patients'
health care needs. Going forward, Sound will be better positioned than ever
to deliver the highest quality care to patients in the acute setting and
reduce costs for its hospital partners."

"Combining Cogent Healthcare's reach with Sound Physicians'
patient-centered 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," noted Rob Bessler, MD, Chief Executive Officer of Sound
Physicians. "By coming together, we believe we can continue to advance
innovation and improvement in the acute episode of care throughout the
U.S."

The parties expect the transaction, which remains subject to regulatory
clearance, to close this quarter.