FRANKFURT (Reuters) – Fresenius has hired UBS to manage the sale of its rehabilitation care clinic business as the German healthcare group focuses on core activities, Frankfurter Allgemeine Zeitung reported on Friday, citing financial sources.
The rehabilitation clinics, also known as post-acute care clinics and part of the group’s hospital project development business Vamed, could be worth as much as 800 million euros ($858 million), according to the report.
Fresenius declined to comment.
The healthcare group’s CEO Michael Sen, who took over last October, is cutting costs and shedding non-core units.
He has said the group will focus on generic drugs unit Kabi and hospitals operator Helios, while Vamed and a stake in dialysis business Fresenius Medical Care would be treated as financial investments.
Last month Fresenius agreed to sell its fertility services business Eugin to a consortium led by KKR’s reproductive medicine group IVI RMA for up to 500 million euros.
($1 = 0.9321 euros)
(Reporting by Ludwig Burger; editing by Matthias Williams)