Dialysis provider Fresenius Medical Care AG & Co. announced that it has acquired eight private dialysis clinics in Ecuador that currently treat more than 1,000 dialysis 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. 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 in Ecuador require regular dialysis treatment, according to Fresenius, and the number of dialysis patients in Ecuador is growing more rapidly than in most Latin American countries. Fresenius said it plans to expand the capacity of the acquired clinics.