0001104659-19-010540.txt : 20190226 0001104659-19-010540.hdr.sgml : 20190226 20190226105444 ACCESSION NUMBER: 0001104659-19-010540 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20190226 FILED AS OF DATE: 20190226 DATE AS OF CHANGE: 20190226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fresenius Medical Care AG & Co. KGaA CENTRAL INDEX KEY: 0001333141 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISC HEALTH & ALLIED SERVICES, NEC [8090] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32749 FILM NUMBER: 19632139 BUSINESS ADDRESS: STREET 1: ELSE-KROENER STRASSE 1 CITY: BAD HOMBURG STATE: 2M ZIP: 61352 BUSINESS PHONE: 011-49-6172-6090 MAIL ADDRESS: STREET 1: ELSE-KROENER STRASSE 1 CITY: BAD HOMBURG STATE: 2M ZIP: 61352 6-K 1 a19-4300_96k.htm 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

 

For the month of February 2019

 

FRESENIUS MEDICAL CARE AG & Co. KGaA

(Translation of registrant’s name into English)

 

Else-Kröner Strasse 1

61346 Bad Homburg

Germany

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F      x

 

Form 40-F  o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes  o

 

No  x

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82

 

 

 


 

EXHIBITS

 

The following exhibits are being furnished with this Report:

 

Exhibit 99.1

 

Press Release issued on February 26, 2019.

 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

DATE: February 26, 2019

 

 

FRESENIUS MEDICAL CARE AG & Co. KGaA,

 

a partnership limited by shares, represented by:

 

 

 

FRESENIUS MEDICAL CARE MANAGEMENT AG, its

 

General Partner

 

 

 

 

 

By:

/s/ RICE POWELL

 

 

Name:

Rice Powell

 

 

Title:

Chief Executive Officer and

 

 

 

Chairman of the Management Board

 

 

 

of the General Partner

 

 

 

 

 

 

 

 

 

By:

/s/ MICHAEL BROSNAN

 

 

Name:

Michael Brosnan

 

 

Title:

Chief Financial Officer and

 

 

 

Member of the Management Board

 

 

 

of the General Partner

 

3


EX-99.1 2 a19-4300_9ex99d1.htm EX-99.1

Exhibit 99.1

 

 

Press Release

 

Media Contact

Matthias Link

T +49 6172 609-2872

matthias.link@fresenius.com

 

Fresenius Medical Care North America

Katherine Dobbs

T +1 781 699-9039

katherine.dobbs@fmc-na.com

 

Contact for analysts and investors

Dr. Dominik Heger

T +49 6172 609-2601

dominik.heger@fmc-ag.com

 

www.freseniusmedicalcare.com

 

February 26, 2019

 

Fresenius Medical Care completes acquisition of NxStage Medical

 

Fresenius Medical Care, the world’s largest provider of dialysis products and services, has successfully completed the acquisition of NxStage Medical, Inc. (NxStage), following approval by antitrust authorities in the United States.

 

NxStage develops, produces and markets an innovative product portfolio of medical devices for use in home dialysis and critical care. The acquisition will enable Fresenius Medical Care to leverage its manufacturing, supply chain and marketing competencies across the dialysis products, services and Care Coordination businesses in a less labor- and capital-intensive care setting.

 

“The closing of this transaction is an important milestone in enhancing our patients’ choice of dialysis treatment modality,” said Rice Powell, Chief Executive Officer of Fresenius Medical Care. “By combining NxStage’s capabilities with our broad product and service offering, we can help patients to live even more independently. In addition to broadening our product portfolio, this acquisition positions Fresenius Medical Care to benefit from the growing trend toward home-based therapies.”

 

Bill Valle, Chief Executive Officer of Fresenius Medical Care North America, said: “It’s a great pleasure to welcome our new NxStage colleagues. With their strong culture of innovation and transformation, they will help us to realize our vision of delivering access to superior patient care and outcomes in a lower-cost-of-care home setting to all the

 

1


 

patients we care for. We are excited to execute on a strategy that is good for patients, the healthcare system and us.”

 

NxStage, which just like Fresenius Medical Care North America has its headquarters in the Boston, Massachusetts area, was founded in 1998 and has approximately 3,800 employees worldwide. In 2017, NxStage delivered USD 394 million in revenue.

 

The company now expects lower total integration costs of around EUR 50 to EUR 75 million over the three years following the closing of the transaction(1). The table below provides the estimated effects of the NxStage acquisition on Fresenius Medical Care excluding these integration costs. The company assumes the full year effect of incremental intangible assets amortization to be in the range of EUR 70 to 80 million for the first two years, then drop to EUR 45 to 55 million thereafter. The company will update those numbers after a detailed assessment, if required.

 

Revenues provided in the table below are lower than the historical reported revenues of NxStage due to the elimination of Fresenius Medical Care’s contribution to these revenues, upon consolidation. Operating income is expected to improve from 2020 onwards due to realization of the anticipated synergies from the acquisition.

 

All effects from the NxStage acquisition are excluded from the company’s communicated targets 2019 and 2020.

 

EUR million(2)

 

2019

 

2020

 

Revenue

 

 240 to 260

 

 310 to 330

 

Operating income (EBIT)

 

(30) to (20)

 

     20 to 30

 

Interest

 

(75) to (65)

 

(85) to (75)

 

Net Income

 

(75) to (65)

 

(40) to (30)

 

 


(1)              The total integration costs are lower than previously communicated mainly due to costs that will be considered pre-merger expenses of NxStage, certain other costs that qualify for purchase accounting or as capital expenditures and previously recognized transaction and legal costs.

(2)              The numbers are excluding effects from the implementation of IFRS 16 and excluding integration costs. 2019 estimates cover the period starting on February 21, 2019 (closing date) until year-end 2019.

 

Fresenius Medical Care is the world’s largest provider of products and services for individuals with renal diseases of which around 3.4 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,928 dialysis clinics, Fresenius Medical Care provides dialysis treatments for 333,331 patients around the globe. Fresenius Medical Care is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with the core business, the company focuses on expanding the range of related medical services in the field of Care Coordination. Fresenius Medical Care is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).

 

2


 

For more information visit the Company’s website at www.freseniusmedicalcare.com.

 

Disclaimers

 

This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to various factors, including, but not limited to, changes in business, economic and competitive conditions, legal changes, regulatory approvals, results of clinical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA’s reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.

 

3


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