Fresenius Medical Q2 net income down 9 pct on healthcare cuts

FRANKFURT, July 30 Tue Jul 30, 2013 1:14am EDT

FRANKFURT, July 30 (Reuters) - Second-quarter net income at Fresenius Medical Care, the world's largest dialysis provider, dropped 9 percent to a worse-than-expected $263 million, hurt by austerity measures in the United States, its most important market.

Analysts had on average expected $280 million in quarterly net income.

The company said on Tuesday it continued to aim for 2013 net income of between $1.1 billion and $1.15 billion.

A 2 percent reduction of U.S. federal spending under automatic cuts known as sequestration kicked in earlier this year, hurting healthcare providers.

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