Robinson Bradshaw Guides Fresenius Through Antitrust Review of Two Transactions Totaling $2.3 Billion



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July 9, 2018

Robinson Bradshaw guided client Fresenius Medical Care through the antitrust clearance process under the Hart-Scott-Rodino Act for two significant transactions, both of which closed in late June. Fresenius is the world's largest provider of dialysis products and services.

Robinson Bradshaw attorneys Gregory L. Skidmore, Henry H. Ralston, Lawrence C. Moore III, Erik R. Zimmerman and Kevin R. Crandall provided antitrust counsel for the following deals.

In the first transaction, Fresenius entered into a $2.15 billion agreement to divest its controlling interest in Sound Inpatient Physicians Holdings LLC to an investment consortium led by Summit Partners L.P. Sound is a physician organization providing services across the acute episode of care through emergency medicine, critical care, hospital medicine, transitional care and advisory services. The Robinson Bradshaw team obtained antitrust clearance for the transaction in the 30-day waiting period, without the issuance of a second request. The transaction closed at the end of June.

Second, Fresenius made a $150 million equity investment in Humacyte Inc., a medical research and development company, to gain a 19 percent ownership stake in the company. Fresenius also obtained the exclusive global rights to commercialize Humacyte's investigational human acellular vessel, HUMACYL®. The Robinson Bradshaw team successfully sought and obtained early termination of the statutory 30-day waiting period, achieving termination of the waiting period in only 10 days. The transaction closed on June 25.

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