Germany’s Fresenius to buy US blood collection equipment maker Fenwal Holdings

German diversified medical equipment company Fresenius SE yesterday agreed to buy blood collection equipment maker Fenwal Holdings from private equity firms TPG Capital and Maverick Capital for an undisclosed sum.

Although Fresenius SE and the PE firms did disclose the financial terms of the deal, Reuters, citing sources, reported that the deal is valued at $1.1 billion.

The proposed acquisition is being carried out through Fresenius' wholly-owned subsidiary Fresenius Kabi AG.

The move comes nearly a month after Fresenius failed to close its €3.1-billion ($4.09 billion) cash bid for rival Rhoen-Klinikum - one of Germany's largest private hospital operators.

Fresenius said that at the end of the offer period 84.3 per cent of Rhoen-Klinikum shares had been tendered, short of the minimum acceptance threshold of more than 90 per cent, one of the conditions for completing the tender terms.

But the Hamburg-based company said that irrespective of acquiring Fenwal, it will continue to assess its options acquiring Rhön-Klinikum.