Fresenius Medical Care (FMS +1.5%) enters into an agreement to invest ~$600M in Sound Inpatient Physicians, a hospital inpatient care delivery organization. Its stake will make it the majority shareholder in the recapitalization of Sound. Other major shareholders are TowerBrook Capital Partners and the group's senior management.
Sound Physicians encompasses more than 1,000 doctors providing care in over 100 hospitals and post-acute care centers across the U.S.
Fresenius CEO Ron Kuerbitz says, "This investment in Sound's inpatient expertise is a significant step forward in our care coordination strategy and augments our network of 2,150 dialysis clinics, 53 vascular care centers, renal pharmacy and full service and specialty laboratories to help us better address the full spectrum of our patients' health care needs."