Fresenius Medical Care has signed an agreement to acquire NxStage Medical Inc. for approximately $2 billion, or $30 per common share.

The acquisition has been approved by NxStage’s board, and is subject to approval of NxStage stockholders. Fresenius said they expect the closing to occur in 2018, and expect the acquisition to be accretive to net income within three years from closing.

“Home dialysis is a critical component of renal care, and this acquisition would help us accelerate growth and innovation in this important modality,” said Bill Valle, CEO of Fresenius Medical Care North America. “I look forward to teaming up with Jeff Burbank and his highly talented team to transform the delivery of home dialysis care in the U.S.”

“Fresenius Medical Care would like us to continue doing what we do best, and a lot more of it,” said Jeff Burbank, Founder and CEO of NxStage Medical, Inc. “I strongly believe our opportunities would be greater working together for the benefit of patients, customers and shareholders.”