Since announcing its intent to optimize its product portfolio, divest noncore business assets and exit certain markets as part of its strategic plan, Fresenius Medical Care has now signed and closed transactions exiting its Argentina operations with the sale to Grupo Olmos. The Company also closed the already announced sale of its National Cardiovascular Partners (NCP) outpatient cardiovascular clinics business in the United States in December 2023. Additionally, Fresenius Medical Care has signed the divestment of its Cura Day Hospitals Group in Australia (Cura) to global alternative asset manager ICG and a consortium of healthcare professionals, subject to regulatory approval.
In aggregate, the three divested assets include 127 facilities, more than 4,500 employees and more than 10,000 dialysis patients. The three divestments represented in 2022 a total proforma revenue of around EUR 600 million. The associated net book loss for the sale of NCP, the sale of the Argentina operations and other assets held for sale by the end of 2023 as part of the Portfolio Optimization Program is estimated to impact the Operating Income of Fresenius Medical Care in the fourth quarter of 2023 by around EUR 50 million and will be treated as a special item.
Depending on exchange rates the Company expects net proceeds of around EUR 500 million from the divestment of NCP, Cura and the Argentinian operations with net proceeds of around EUR 135 million in the fourth quarter 2023 and the remainder to occur in 2024.
All assets currently under review as part of the Portfolio Optimization would, if executed by the end of 2025, negatively impact 2025 revenue by EUR 1.5 billion and positively impact 2025 margin.
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