FRANKFURT (Reuters) - German healthcare group Fresenius (FREG.DE) said it was transferring its inpatient rehabilitation business from its private hospital operations to its Fresenius Vamed unit to better enable continued growth at the two businesses.
“This will strengthen Fresenius Vamed’s position as a leading provider of post-acute care in Europe. Fresenius Helios, meanwhile, will focus even more strongly on the acute care hospital business,” the company said on Wednesday.
The transaction is worth a total of 485 million euros ($571 million), including assumed net debt of 15 million euros, and will be financed internally, it said.
It raised the 2018 operating profit guidance for Fresenius Vamed and lowered the outlook for Fresenius Helios as a result but said that group earnings would not be significantly affected.
Reporting by Maria Sheahan, editing by Louise Heavens