Trending: Thousands of Amazon employees to party with singer Lorde at CenturyLink Field in Seattle

Liberty Dialysis Holdings, a Mercer Island company that operates 260 dialysis clinics across the country, has entered into an agreement to be sold to Germany’s Fresenius Medical Care for $1.7 billion. Liberty Dialysis, which merged with Renal Advantage last year to become the third largest operator of dialysis facilities in the U.S., has annual sales of about $1 billion.

Founded by Mark Caputo nearly a decade ago, the company raised cash from Ignition Partners, Bain Capital and KRG Capital. Fresenius previously had invested $300 million in Renal Advantage.

The investment from Bellevue-based Ignition was a bit unusual at the time, since it had previously focused efforts on early-stage technology companies. Liberty is a portfolio company of Ignition Capital, an affiliate fund of Ignition Partners which focuses on larger private equity-style deals.

In a statement, Caputo said that working with Fresenius Medical Care “clearly gives us an opportunity to create a superior platform for innovation in the delivery of services and products.”

In addition to Liberty Dialysis, Fresenius Medical said it has agreed to buy American Access Care Holdings for $385 million.

Fresenius Medical, with 77,081 employees, today reported quarterly revenue of $3.2 billion on net income of $481 million.

The acquisition of Liberty Dialysis — the latest in a string of large acquisitions — also includes the assumption of debt.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline


Job Listings on GeekWork

General Manager, Semantic ScholarAllen Institute for Artificial Intelligence
IT AssociateIndivisible Project
Find more jobs on GeekWork. Employers, post a job here.