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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTIONS 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 26, 1998
FRESENIUS MEDICAL CARE HOLDINGS, INC.
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
1-3720 13-3461988
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(Commission File Number (IRS Employer Identification No.)
Two Ledgemont Center, 95 Hayden Avenue Lexington, Massachusetts 02420
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(Address or principal executive offices) (Zip Code)
Registrant's telephone number, including area codes: (781) 402-9000
Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Fresenius Medical Care AG, the parent corporation of Fresenius Medical
Care Holdings, Inc., recently disseminated the following press release:
"FRESENIUS MEDICAL CARE DIVESTS ITS DIAGNOSTICS BUSINESS
Bad Homburg, Germany, July 8, 1998. Fresenius Medical Care AG (NYSE; FMS &
FMSpr, Frankfurt Stock Exchange: FME & FME 3) today announced that its North
American division has completed the sale of the Company's diagnostics business
to Navix Radiology Systems, a private company in Coconut Grove, Florida.
Udo Werle, Chief Executive Officer of Fresenius Medical Care said, "This sale
completes our objective to sell the diagnostics services division, which is a
non-core asset. It will allow us to focus more resources on the core renal
products and services businesses." He added, "We have also signed an agreement
to sell the other non-core business, homecare, and expect to complete that sale
during the third quarter."
Combined proceeds from the two divestitures, diagnostics and homecare, are
expected to be in the range of $100 million. This will result in an estimated
second quarter 1998 loss after tax from discontinued operations of approximately
$100 million. The amount depends upon the finalization of the homecare
transaction.
Navix Radiology Systems, Inc. is a physician practice management company focused
on radiology.
Fresenius Medical Care AG is the world's leading integrated provider of products
and services for individuals with chronic renal failure. Through its network of
over 740 dialysis centers in the United States and more than 200 dialysis
centers in Europe, Latin America and Asia, Fresenius Medical Care provides
dialysis treatment to approximately 70,000 patients worldwide.
This press release contains forward-looking statements that are subject to
various risks and uncertainties. Actual results could differ materially from
those contained in these forward-looking statements due to certain factors,
including changes in business, economic and competitive conditions, regulatory
reforms, foreign exchange rate fluctuations, uncertainties in litigation or
investigative proceedings, and the availability of financing. These and other
risks and uncertainties are detailed in the Company's reports filed with the
Securities and Exchange Commission. The Company does not undertake any
responsibility to update the forward-looking statements contained in this press
release."
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
FRESENIUS MEDICAL CARE
HOLDINGS, INC.
/s/ Ben J. Lipps
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DATE: July 8, 1998 Name: Ben J. Lipps
Title: Chief Executive Officer
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