Dialysis provider Fresenius Medical Care AG & Co. KGaA has agreed to buy a majority stake in Sound Inpatient Physicians Inc. for approximately $600 million. FMC will become majority shareholder, alongside existing investor TowerBrook Capital Partners and Sound’s senior leadership team. FMC said the transaction is expected to close within the next ten days.

“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," said Ron Kuerbitz, CEO of Fresenius Medical Care North America.

FMC said in a news release that it expects Sound Physicians to generate approximately $500 million in revenue in the next twelve months and expects the investment to be accretive to operating earnings within the first year after closing, subject to adjustment for transaction costs. It will fund the investment through available cash and committed credit facilities, supplemented by additional debt financing.

Acquisition of urgent care centers
FMC also disclosed that it has acquired MedSpring Urgent Care Centers, with operations in Illinois and Texas.

“MedSpring’s commitment to providing primary care to patients where and when they need it most is a critical component of a truly effective 21st century health care network,” said Kuerbitz. “We look forward to working with them to help expand their existing footprint and continue to provide patients with a more complete set of health care options.”

In April, FMC said it expects revenue in 2020 to reach $28 billion, part of which they said will be made from care coordination.