Fresenius Medical Care said it will acquire a majority stake in Cura Group, which operates 19 private day hospitals in Australia.

Cura, established in 2008, provides a variety of specialized ambulant services, such as ophthalmology and orthopedic surgeries in an outpatient setting. Cura was established in 2008 and generated revenue of AUD 127 million in the financial year 2015/2016.

Fresenius said that after the deal, the company will operate around 40 outpatient facilities in Australia. The company did not disclose the financial terms of the agreement, which is still subject to shareholder agreements.