What did Fresenius Medical Care AG & Co. KGaA pay for NxStage Medical, Inc.?

Fresenius Medical Care AG & Co. KGaA acquired NxStage Medical, Inc. for $1.93B in 2019 (29.7x EBITDA), equivalent to 4.00x revenue. Target revenue was approximately $487.0M. Target EBITDA was approximately $65.0M.

What does NxStage Medical, Inc. do?

NxStage Medical, Inc. is a medical devices business.

What multiple did Fresenius Medical Care AG & Co. KGaA pay for NxStage Medical, Inc.?

29.7x EBITDA and 4.00x revenue, based on disclosed deal value of $1.93B and disclosed financials.

M&A TRANSACTION · 2019

NxStage Medical, Inc. acquired by Fresenius Medical Care AG & Co. KGaA

$1.93B· 29.7x EBITDA· 4.00x revenue

Target

NxStage Medical, Inc.

Acquirer

Fresenius Medical Care AG & Co. KGaA

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$487.0M

EBITDA

$65.0M

Deal Value

$1.93B

EV/EBITDA

29.7x

Context

This $1.93B acquisition of NxStage Medical, Inc. by Fresenius Medical Care AG & Co. KGaA sits in the medical devices sub-vertical. The 29.7x EBITDA multiple paid in 2019 can be compared against the population median for medical devices transactions of similar size on our Medical Devices valuation hub. Fresenius Medical Care AG & Co. KGaA is acquiring as a strategic buyer; see how strategic acquirers typically price medical devices businesses on our Medical Devices strategic buyer-pool page.

Source

Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2019). NxStage Medical, Inc. acquired by Fresenius Medical Care AG & Co. KGaA. https://exitvalue.ai/deals/nxstage-medical-inc-acquired-by-fresenius-medical-care-ag-co-kgaa-fairness-opi