BAD HOMBURG, Germany—Fresenius Medical Care is entering the dialysis services market in Ecuador after acquiring eight private clinics that treat more than 1,000 patients.
The clinics are located in highly populated areas of Ecuador: Manabi province in the northwest, Guayaquil in the southwest, and the capital Quito.
Fresenius Medical Care acquired them from an Ecuadorian family. In addition, the clinics will add around $17 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction. Both parties have agreed not to disclose the purchase price.
Fresenius Medical Care has also agreed to acquire Nefrocontrol S.A., its local distribution partner in Ecuador since 1992, from the same owners. This acquisition will add another $7.5 million in annual revenue.
Currently, more than 6,000 patients require regular dialysis treatment in Ecuador. The number of dialysis patients in Ecuador is growing more rapidly than in most Latin American countries. To meet this rising demand, Fresenius said it plans to expand the capacity of the acquired clinics.
"As a vertically integrated provider, we’re delighted to offer patients in Ecuador top-quality dialysis services and products from a single source," said Dr. Emanuele Gatti, chief executive officer for Europe, Latin America, the Middle East and Africa, and global chief strategist of Fresenius Medical Care. "We aim to further expand our presence in Ecuador in the medium to long term. Our main objective is to provide the growing number of dialysis patients in the country with the best treatment possible."
