Liberty Dialysis Acquired by German Company Fresenius
By Sonia Isotov
Fresenius Medical Care announced in its second quarter 2012 earnings report that it is acquiring Liberty Dialysis Holdings, Inc., the holding company for Liberty Dialysis and the owner of the two kidney dialysis clinics on Maui and one on Molokai.
The move by Fresenius Medical Care appears to be part of an overall strategy by Fresenius to achieve critical mass for its vascular access operation in light of the dialysis bundled reimbursement system that the US Government will be rolling out by 2014.
The merger is subject to clearance under the Hart–Scott–Rodino Antitrust Improvements Act and is expected to close in early 2012. Liberty Dialysis Holdings, Inc. has annual sales of approximately $1 billion and operates approximately 260 dialysis clinics throughout the country.
Fresenius Medical Care anticipates that some facilities may need to be sold in order to secure regulatory clearance of the merger transaction. Comments from management were not available as of this writing.
“We are very pleased with this agreement. Both companies, Liberty Dialysis and Fresenius Medical Care, have three key assets in common: a strong commitment to continuous quality improvement, dedicated and highly-motivated staff and excellent physician partners,” said Rice Powell, chief executive officer of Fresenius Medical Care North America and deputy chairman of Fresenius Medical Care in a written statement.
“This combination of Liberty’s model of integrating physicians into the clinical and operational management of the facilities with Fresenius Medical Care’s focus on technology and experience with integrated delivery systems clearly gives us an opportunity to create a superior platform for innovation in the delivery of services and products and will further enhance the lives of patients entrusted to our care and reduce costs for the healthcare system,” said Mark Caputo, chief executive officer and president of Liberty Dialysis Holdings, Inc.