Fresenius acquisition of NxStage Medical, Inc.

CRA consultants advised counsel to Fresenius Medical Care Holdings, Inc. and NxStage Medical, Inc. as they sought regulatory approval of Fresenius’ $2 billion acquisition of NxStage. The merger of the two companies combined one of the world’s leading producers of in-center dialysis equipment and operator of dialysis centers with a leading producer of in-home dialysis equipment. CRA economists provided analyses related to incentives of the merging parties to engage in vertical foreclosure as well as related to horizontal overlap areas.

In addition, CRA assisted in compliance with requests for information by regulators. In February 2019, the FTC approved the transaction after an 18-month investigation with only modest divestitures in one supply line – single use hemodialysis bloodlines used during hemodialysis treatment. CRA’s team included Monica Noether with support from Courtney Stoddard, and others.

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