FSNUY Fresenius SE and Company KGaA (PK)

   By Joshua Kirby 
 

Fresenius SE and Co. said Thursday that it has agreed to buy speciality infusion-therapy company Ivenix, as well as a majority stake in biopharmaceutical company mAbxience Holding.

The German healthcare group said its subsidiary Fresenius Kabi will acquire a 55% stake in Spanish company mAbxience for an upfront payment of 495 million euros ($552.4 million.) The deal also sets unspecified milestone payments, and includes a put/call option on the current owners' remaining 45% share, Fresenius said.

The acquisition of mAbxience aligns with Fresenius Kabi's strategy to broaden its biopharmaceutical business, it said. The company currently employs approximately 600 staff and generated sales of around EUR255 million last year, according to Fresenius.

Fresenius Kabi will also acquire U.S.-based Ivenix for $240 million as an upfront payment and further milestone payments linked to commercial and operating targets, the company said.

Both transactions are subject to regulatory approvals and other customary closing conditions and are expected to close by the middle of this year, Fresenius said.

Combined, the two acquisitions are expected to be broadly neutral to group earnings in 2022 and accretive as of 2023, Fresenius said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

March 31, 2022 02:48 ET (06:48 GMT)

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