FRESENIUS MEDICAL CARE DIVESTS SHIEL MEDICAL LABORATORY TO QUEST DIAGNOSTICS | FRESENIUS MEDICAL CARE
GERMANY Sept. 28, 2017 ĢýĢý, the worldĢýs largest provider of dialysis products and services, today announced the divestment of the business of Shiel Medical Laboratory, Inc. to Quest Diagnostics, Inc. Shiel provides comprehensive non-dialysis laboratory services in the New York-New Jersey metropolitan area.
The decision to divest Shiel is aligned with ĢýĢýs goal to further optimize the CompanyĢýs Care Coordination portfolio. ĢýĢýs dialysis-related laboratory services business, Spectra Labs, is not affected by the divestiture.
The divestment is expected to generate a modest book gain for Ģý.Closingof the transaction is subject to regulatory approvals and anticipated in the fourth quarter of 2017.
ĢýThe sale of Shiel Medical Laboratory will optimize the growth profile of our portfolio of Care Coordination activities in the U.S.,Ģý said Rice Powell, Chief Executive Officer of Ģý. ĢýBased on the businessĢý development relative to our original expectations weĢýre keen to focus on areas offering superior growth and benefits for our core activities. With this transaction, ShielĢýs customers will have access to even more diagnostic expertise. Ensuring a smooth transition will be a priority.Ģý
ĢýBy joining forces with Shiel, physiciansandpatients in the New York-New Jersey region will have broader access to QuestĢýs diagnostic insights and innovations,Ģý said Steve Rusckowski, Quest Diagnostics Chairman, President and CEO. ĢýThe acquisition will also deliver on Quest's strategy to accelerate growth and drive operational excellence through strategically aligned, accretive acquisitions."
Ģý and Quest will also collaborate on identifying patients with early-stage chronic kidney disease, based on QuestĢýs laboratory data analytics, who may benefit from treatment to slow progression to end-stage renal disease (ESRD).
Ģý is the world's largest provider of products and services for individuals with renal diseases of which around 3.2 million patients worldwide regularly undergo dialysis treatment. Through its network of 3,872 dialysis clinics, Ģý provides dialysis treatments for 329,085 patients around the globe. Ģý is also the leading provider of dialysis products such as dialysis machines or dialyzers. Along with its core business, the company provides related medical services in the field of Care Coordination. Ģý is listed on the Frankfurt Stock Exchange (FME) and on the New York Stock Exchange (FMS).
For moreinformantionvisit the company's website at
