A Medical Device Daily
Fresenius Medical Care (Bad Homburg, Germany) reported that its wholly owned subsidiary, Renal Care Group (RCG; Nashville, Tennessee), has received a subpoena from the U.S. Attorney's Office for the Southern District of New York requesting documents relating to grants of stock options by RCG during the period from when the company was formed in 1996 through the present.
Fresenius completed the $3.5 billion acquisition of RCG on March 31 (Medical Device Daily, Apr. 3, 2006).
Based on its confidence in the management of RCG, Fresenius said it believes that Renal Care Group's option program was appropriately administered.
On behalf of RCG, Fresenius said it will cooperate with the U.S. Attorney's office to resolve this matter expeditiously.
Fresenius is the world's largest, integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure.