Fresenius Medical Care AG, the world's biggest provider of dialysis, bought a controlling share of Exelsior Co to become Taiwan's largest dialysis company, adding 90 clinics and more than 6,500 new patients.
Fresenius Medical Care will pay US$38 million for 51 percent of Taipei-based Exelsior, which is owned by Enfield Medical Co, the Bad Homburg, Germany-based company said in a statement yesterday.
It plans more acquisitions in Asia, chief executive officer Ben Lipps said in an interview.
"We are very enthusiastic about the Asia-Pacific area, and there are some other opportunities that we're looking at in this area at this time," Lipps said.
The company usually spends between US$100 million and US$125 million a year of cash flow on takeovers, he said.
The purchase boosts the company's share of the Taiwanese dialysis market to 18 percent from 4 percent. Fresenius operates a network of more than 2,000 dialysis clinics, providing treatment to 161,433 patients in countries including the US and Germany and in parts of Africa.
Renal disease, which is often a consequence of diabetes, is on the increase in Taiwan with a rate of 1,900 patients per 1 million, according to Fresenius.
The German health-care provider is "confident" that it can meet its goal of at least US$557 million net income for last year, a target it announced in October, Lipps said.
"We clearly stand by that," he said.
Excelsior is the market leader in Taiwan.
It has a share of 14 percent and treats close to 6,500 patients in 90 clinics.
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