Fresenius (NYSE:FMS) said yesterday it acquired lung & cardiac focused medtech company Xenios from German venture capital group zfhn Zukunftsfonds Heilbronn for an undisclosed amount.
Xenios was formed in 2013 after zfhn combined earlier acquisitions Novalung and Medos Medizintechnik under the Xenios moniker. The company develops and produces systems for minimally invasive lung and cardiac assistance, and employs more than 260 employees.
“We are acquiring an attractive company that makes a very reasonable addition to our product range. We are looking forward to working with our new colleagues. We will jointly focus on further growing the business on the basis of our strong position and on tapping into new markets,” Fresenius medical management board EMEA manager Dominik Wehner said in a prepared release.
Fresenius said it plans to expand its “leading position” in extracorporeal organ support into both heart and lung disease state treatments with the acquisition.
“Thanks to the longtime, professional support and guidance of zfhn in growing Xenios AG, we are now able to take the next major step. Under the umbrella of Fresenius Medical Care AG, we will be able to continue our international growth course, particularly in North America and China, and open up new markets with innovative products. We are confident that our know-how in the field of cardiovascular system support will be a significant enrichment for the portfolio of Fresenius Medical Care AG. Having the support of a major partner gives us the ability to accelerate our growth course,” Xenios AG founder & chair Dr. Georg Matheis said in a prepared statement.
“Treating heart and lung diseases with extracorporeal therapy systems is closely tied to dialysis both in technological terms and in the clinical process. By combining Xenios AG’s innovative products and the experience of Fresenius Medical Care especially in the acute area, we can put these therapies into use on a broad-scale basis and achieve further progress that will benefit patients,” Fresenius management board R&D director Dr. Olaf Schermeier said in prepared remarks.
“The long-term strategy of Zukunftsfonds Heilbronn continues to unfold. With Fresenius Medical Care AG, we have succeeded in bringing a true world market leader from the high-growth healthcare sector to Heilbronn. Our top objective is to use the activities of zfhn to make Heilbronn a hub for many regional technology-focused companies. The takeover of Xenios AG by Fresenius Medical Care AG will ensure a strong appeal for our region internationally and entice other innovative companies from the medical technology segment to look at our region,” zfhn CEO Thomas Villinger said in a press release.
The acquisition is subject to authority approval with a slated completion date at the end of the year, the companies said.
