• Fresenius Medical Care acquires strategic and majority stake in CURA Day Hospitals
• Combined business to provide scale and potential for future growth

CURA Day Hospitals Group (CURA) is pleased to announce today that Fresenius Medical Care will acquire a strategic and majority interest in the business, subject to conditions customary for a transaction of this nature including shareholder approval.

CURA was founded in April 2008 in response to the growing consumer demand for quality day hospital facilities where doctors can deliver quality patient outcomes while offering a way to optimise their own incomes. In less than ten years, CURA has grown exponentially to become the largest independent day hospital company in Australia. CURA operates 19 day hospitals – including three acquired in the last 12 months – across six states and also the ACT.

Fresenius Medical Care is a part of Fresenius Medical Care SE & Co. KGaA, a large publicly listed global healthcare group with a market capitalisation of around €40bn and is headquartered in Germany. Fresenius Medical Care operates more than [3,400] medical clinics, providing [44] million treatments per annum. Fresenius Medical Care Australia has operated locally for over a decade, with over 17 dialysis clinics and supplies and supports dialysis products.

The strategic interest acquired by Fresenius Medical Care will lead to a strong partnership and provide the platform for CURA to continue its rapid growth trajectory, founded on clinical and operational excellence.

Peter Freeleagus, chief executive officer of CURA Day Hospitals Group said the majority acquisition was an exciting development and represents the next phase of growth in an industry with positive sector dynamics.

“We are excited about the partnership with Fresenius Medical Care and the ability to leverage the clinical and operational expertise of a global healthcare group. This will allow CURA to continue its strong commitment to offering best in class facilities and service.

“In Fresenius Medical Care, we have found a strategic partner with a strong understanding of the local healthcare market through its dialysis clinics as well as the specific needs of day hospitals. Together, CURA and Fresenius Medical Care are well positioned to take advantage of the positive sector dynamics in Australian healthcare to capture future growth.

“This transaction is a testament to the hard work of management, employees and doctors who have all contributed to CURA’s success.  Importantly, we are confident that our stakeholders remain clearly aligned to deliver even greater success in the future,”

Mr Freeleagus said.

CURA and its major institutional shareholder, Intermediate Capital Group (ICG) were advised by Rothschild.

On completion of the transaction, ICG and the collective group of doctor owners will remain substantial and supportive shareholders of CURA.