Sound is a physician organization that offers services across the acute episode of care, including emergency medicine, critical care, hospital medicine, transitional care and advisory services.

In 2014, Fresenius Medical Care acquired a majority stake in Sound to improve quality outcomes and reduce total cost to the health care system.

During the same year, Sound expanded its operations with the acquisition of Cogent Healthcare.

In 2017, Sound reported revenues of around 1.25bn and earnings before interest and taxes (EBIT) of about €90m. The company employs around 3,500 people.

Subject to regulatory approvals, the deal is expected to complete by the end of this year.

Fresenius Medical Care CEO Rice Powell said: “In the previous years we have gained insight and successfully applied the knowledge on efficient patient coordination and on value-based programs in our unit called Fresenius Health Partners where we run the ESCOs, our own Medicare Advantage plan and various sub-capitated arrangements.”

Fresenius Medical Care North America CEO Bill Valle said: “The acquisition by Summit provides Sound with the opportunity to expand its existing service lines in a rapidly changing market and tap into new areas.”

In August 2017, Fresenius Medical Care agreed to acquire American home dialysis equipment maker NxStage Medical for approximately $2bn to boost its vertically integrated dialysis business.

Established in 1998, NxStage has a workforce of around 3,400 employees. The firm develops, produces and distributes a product portfolio of medical devices associated with home dialysis and in the critical care setting.

Fresenius said the financial targets for this year and 2020 do not include the effects of this divesture or the planned acquisition of NxStage Medical.

Based in Bad Homburg of Germany, Fresenius Medical Care offers products and services for people with chronic kidney failure.

Image: Fresenius headquarters in Bad Homburg, Germany. Photo: courtesy of Fresenius Medical Care AG & Co. KGaA.