Fresenius Medical Care invests €312 million in Interwell Health unit

Fresenius Medical Care (NYSE: FMS) invested €312 million to increase its ownership in Interwell Health, its value-based care subsidiary, the dialysis company announced.

The German healthcare company completed a share purchase agreement with all non-physician investors in Interwell Health, accelerating the timeline from the original merger of Cricket Health, Interwell Health, and Fresenius Health Partners completed in August 2022. The transaction closed in early September.

Interwell Health partners with over 2,200 nephrologists in the United States and generated €1.035 billion in revenue during the first six months of the year, representing 23.5% revenue growth during that period.

The company appointed Tommy P. O'Connor as chief executive officer of Interwell Health and leader of its Value-Based Care operating segment, effective October 1. O'Connor previously served as CEO of the Empire and Midwest Markets for UnitedHealthcare Medicare.

O'Connor succeeds Robert Sepucha, who informed the management board of his intention to leave at the end of September. Sepucha served as CEO since August 2022.

"With the acceleration of the buyout transaction at favorable terms and the appointment of Tommy O'Connor, we are well placed to strengthen IWH's ability to deliver better outcomes for patients while lowering the total cost of care," said Helen Giza, CEO and chair of the management board.

The moves support Fresenius Medical Care's FME Reignite strategy focused on strengthening its core business, driving growth and innovation, and developing company culture. The company operates 3,676 dialysis clinics worldwide and provides treatments for approximately 300,000 patients globally.

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