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Fresenius says Federal Trade Commission still reviewing NxStage acquisition
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Fresenius Medical Care said in a press release that the company is still in the process of seeking approval by the U.S. Federal Trade Commission for its acquisition of home dialysis machine manufacturer NxStage Medical Inc. and now projects the transaction to close in early 2019.
Fresenius had said during an earnings call in early November that it was taking a 90-day extension on completing the $2 billion buy of NxStage, but it expected to close the sale before the end of 2018. NxStage agreed with the extension.
The extension was needed “in order to allow ourselves ample time to get this done with the Federal Trade Commission and then finally get on in the integration of NxStage into Fresenius Medical Care,” Fresenius CEO Rice Powell said during the earnings call. The new closing date was set as Feb. 5, 2019, but Powell told investors he expects the acquisition would close by the end of 2018, “NxStage will close. We are later in the year than any of us imagined we would be, but we still believe that it will close,” he told investors.
Fresenius signed an agreement in August 2017 to acquire NxStage; the company was founded in 1998 and has approximately 3,800 employees worldwide.
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