UPDATE: NxStage sells bloodline business to B Braun to appease the FTC in its sale to Fresenius
UPDATE: Now includes information from NxStage indicating that the sale was part of the process to obtain FTC clearance to sell to Fresenius.
B. Braun announced today that it has signed an agreement to acquire the bloodline business of NxStage Medical (NSDQ: NXTM), which operates under the name Medisystems.
B. Braun of Bethlehem, Pennsylvania, has not disclosed details of the acquisition and has not disclosed how the company will be integrated into its existing product lines.
“We are excited to add the Streamline bloodline to our dialysis product portfolio. Although we have been selling Streamline for many years, this acquisition enables us to more fully promote the benefits of Streamline as part of our transformative product system that includes the Dialog Hemodialysis Machine and Diacap Pro Dialyzer, ”said Sam Amory, VP of B. Braun in a press release.
The acquisition is contingent on the closure of Fresenius Medical Care’s (NYSE: FMS; ETR: FRE) $ 2 billion acquisition of NxStage, said B. Braun. The company hopes the acquisition will close this year.
NxStage said the sale was part of a drive to obtain FTC approval for Fresenius Medical Care’s acquisition of $ 2 billion, according to an SEC filing. The company added that it is confident the sale will close this year.
The divestment means the $ 2 billion sale is nearing completion. Last October, Fresenius and NxStage received a request from the US Federal Trade Commission asking for more information about the acquisition.
The companies originally announced the acquisition in August last year. Fresenius wanted to pay $ 30 per share for Lawrence, Massachusetts-based hemodialysis developer NxStage.