NASHVILLE, Tenn. — Renal Care Group Inc. shareholders voted overwhelmingly Wednesday to approve a $3.5 billion merger with Fresenius Medical Care AG, which would make it one of the world's biggest dialysis care companies.
The acquisition, which is expected to close by the end of 2005, is currently under review by the Federal Trade Commission, which will determine if the deal raises "anti-competitive concerns," according to a statement released by Renal Care Group.
In May, Fresenius Medical Care AG of Germany said it would pay $48 a share for Nashville-based Renal Care. The deal is subject to regulatory approval in the United States and Europe.
Fresenius has dialysis filter manufacturing operations in Ogden that employ about 1,300.
Shares of Renal Care Group rose 3 cents to close at $46.93 Wednesday on the New York Stock Exchange.
Renal Care Group, which is a specialized dialysis services company that provides care to patients with kidney disease, serves more than 31,900 patients at more than 450 owned outpatient dialysis facilities, in addition to providing acute dialysis services at more than 210 hospitals. More than 9,200 associates provide services across the company's 34-state network.
Fresenius is one of the biggest dialysis providers worldwide, treating nearly 126,000 patients at more than 1,630 clinics in Europe, Asia, Africa and Latin and North America.