German Company Buys Mercer Island-Based Liberty Dialysis for $1.7B

German-based Fresenius Medical Care said Tuesday that it would buy local dialysis service provider  for $1.7 billion including about $1 billion in assumed debt.

The deal will maintain Fresenius's position as the largest provider of renal therapy in the United States, adding about 19,000 of Liberty's patients to their client base of 140,000. Headquartered in Mercer Island, Liberty was founded in 2002 by Mark Caputo and Bob Santelli in conjunction with Bain Capital and co-owned by partners KRG Capital and Ignition Partners. The company operates dialysis clinics in 22 states, mainly in the Northeast U.S., Texas, California — though none are in Washington state.

The acquisition, which is expected to close in early 2012, will add about $1 billion to Fresenius's annual sales.

For a more in-depth look at the merger and an interview with Liberty CEO Mark Caputo, please see this story by the Seattle Times.