Fresenius successfully completes deconsolidation of Fresenius Medical Care

 

  • Deconsolidation is a landmark in the implementation of the #FutureFresenius program and a historic day for both companies
  • Reducing complexity is a prerequisite for greater flexibility as well as more efficient and faster decision-making and the basis for long-lasting economic success
  • Fresenius remains the largest shareholder of Fresenius Medical Care with an unchanged 32 percent of the share capital

Fresenius has successfully completed the deconsolidation of Fresenius Medical Care: The change in legal form was entered in the commercial register on November 30, 2023, and thereby took effect after the Senate of the Bamberg Higher Regional Court had granted Fresenius Medical Care’s applications for approval in full.

"The deconsolidation of Fresenius Medical Care is a landmark in the implementation of our #FutureFresenius strategy and a historic day for both companies. We are reducing complexity and creating the conditions for greater flexibility and more efficient and faster decision-making. Fresenius Medical Care will gain a greater degree of freedom as a result of the deconsolidation. This also means greater responsibility. Both companies can now concentrate on what they do best: working for the well-being of patients in their respective segments," said Michael Sen, CEO of Fresenius. "We are redirecting the company’s focus with #FutureFresenius and creating the basis for long-lasting economic success. The solid business performance in recent quarters shows that this is the right path for us."

The shareholders of Fresenius Medical Care had already approved the change in legal form from a partnership limited by shares (KGaA) to a stock corporation (AG) by a majority of more than 99% at an Extraordinary General Meeting held on July 14, 2023. Following the change in legal form, Fresenius Medical Care is no longer part of the consolidated subsidiaries of Fresenius. Fresenius continues to hold 32 percent of Fresenius Medical Care’s share capital and therefore remains the company’s largest shareholder. With the deconsolidation, Fresenius Medical Care’s accounting treatment will change from IFRS 5 to equity method accounting.

Fresenius Medical Care was formed in 1996 from the merger of Fresenius‘ dialysis division with the U.S. dialysis provider National Medical Care (NMC). The combination of Fresenius‘ product business and NMC’s service business has made the company the world’s leading and uniquely vertically integrated dialysis provider. Since then, Fresenius Medical Care has increased considerably in size and value as a result of organic growth and acquisitions: Revenue and the number of patients have increased sevenfold, while the number of employees has increased fivefold.

This press release contains forward-looking statements that are subject to certain risks and uncertainties. Future results may differ substantially from those currently anticipated due to various risk factors and uncertainties, such as changes in the business, economic, and competitive situation, changes in legislation, results of clinical trials, exchange rate fluctuations, uncertainties regarding litigation or investigative proceedings, the availability of financing, and unforeseen effects of international conflicts. Fresenius assumes no responsibility to update the forward-looking statements contained in this press release.

Über Fresenius SE & Co. KGaA

Fresenius SE & Co. KGaA (Frankfurt/Xetra: FRE) is a global healthcare company headquartered in Bad Homburg v. d. Höhe, Germany. In fiscal year 2022, Fresenius generated €21.5 billion in annual revenue with around 190,000 employees (excluding Fresenius Medical Care). As a healthcare company focused on therapy, Fresenius offers system-critical products and services for leading therapies for the care of critically and chronically ill patients. The Fresenius Group comprises the Operating Companies Fresenius Kabi and Fresenius Helios as well as the Investment Companies Fresenius Medical Care and Fresenius Vamed. With 145 hospitals and numerous outpatient facilities, Fresenius Helios is the leading private hospital operator in Germany and Spain, treating around 24 million patients every year. Fresenius Kabi offers drugs and medical technology for infusion, transfusion, and clinical nutrition worldwide. Fresenius was founded in 1912 by the Frankfurt pharmacist Dr. Eduard Fresenius. After his death, Else Kröner took over the management of the company in 1952 and laid the foundations for a company that today operates in around 80 countries and pursues the goal of improving people’s health. The largest shareholder is the non-profit Else Kröner-Fresenius Foundation, which is dedicated to promoting medical research and supporting humanitarian projects.

Further information is available online at [url=http://www.fresenius.de]www.fresenius.de[/url].
Follow us on social media: [url=http://www.fresenius.de/socialmedia]www.fresenius.de/socialmedia[/url]

Firmenkontakt und Herausgeber der Meldung:

Fresenius SE & Co. KGaA
Else-Kröner-Straße 1
61352 Bad Homburg
Telefon: +49 (6172) 608-2302
Telefax: +49 (6172) 608-2294
http://www.fresenius.de

Ansprechpartner:
Stefan Schmidt
Konzern-Kommunikation
E-Mail: stefan.schmidt@fresenius.com
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