01:25 PM EST, 03/05/2024 (MT Newswires) -- Fresenius Medical Care ( FMS ) on Tuesday announced the sale of its dialysis clinic networks in Brazil, Colombia, Chile and Ecuador to DaVita ( DVA ) for $300 million, with closing expected throughout the year.

The networks comprise of 154 dialysis clinics with more than 7,100 employees and reported pro-forma revenue of about 370 million euros ($401.7 million), the company said.

Fresenius said the net book loss for the transactions is estimated to negatively impact the company by around 200 million euros in 2024, adding that it will treat the impact as a special item in operating income.

Fresenius shares were up more than 11% in recent trading, and DaVita ( DVA ) was up about 6.5%.

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