Baker & McKenzie Client Fresenius Medical Care Completes Liberty Dialysis Acquisition
29 February 2012
New York, USA, February 29, 2012 – Baker & McKenzie client Fresenius Medical Care AG & Co. KGaA, the world’s largest provider of dialysis products and services, today announced that Fresenius Medical Care North America has closed the acquisition of Liberty Dialysis Holdings, Inc., the holding company of Liberty Dialysis and Renal Advantage. The closing follows the completion of the review of the transaction and issuance of a consent decree by the United States Federal Trade Commission. In connection with the consent decree, Fresenius Medical Care intends to divest its interests in 62 dialysis clinics. The acquisition of Liberty Dialysis Holdings Inc. is expected to add annual revenues of around $700 million and 201 clinics to Fresenius Medical Care’s network for an investment, net of proceeds from the divestiture, of approximately $1.5 billion.
Baker & McKenzie represented Fresenius in these transactions. The Firm’s team was led by New York corporate Partner Alan F. Zoccolillo and Of Counsel Charles F. Niemeth and Washington, DC antitrust Partners Katherine I. Funk and Brian F. Burke. The team also included New York tax Partner Jonathan Stevens and Associate Lucy Alberto; New York employment Partners Richard Reilly and Pia Flanagan; New York corporate Associates Michele Maney, Brian Powers, Caroline Kirk, Jessie Cardinale and Stephanie Train; New York finance Associate Olumide Owoo; New York antitrust Associate Catherine Koh; and Washington DC antitrust Partner Lee Van Voorhis, Associates John Fedele, Teisha Johnson and Jeremy Cline and Paralegal Kenneth Hunter.
“This is an important acquisition for the company,” said Ron Kuerbitz, Executive Vice President & Chief Administrative Officer of Fresenius Medical Care North America. “We are particularly appreciative of the efforts of the Baker team to secure Commission approval and to get these deals closed under a tight deadline.”
Fresenius Medical Care is the world's largest integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure, a condition that affects more than 2 million individuals worldwide. Through its network of 2,898 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 233,156 patients around the globe. Fresenius Medical Care is also the world's leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products.