07.20.22
Rank: #18 (Last year: #18)
€5.84 Billion ($6.61 Billion)
Prior Fiscal: €5.84 Billion
Percentage Change: 0%
R&D Expenditure: €818M
No. of Employees: 316,078 (total)
Global Headquarters: Bad Homburg, Germany
KEY EXECUTIVES:
Stephan Sturm, Chairman of the Management Board, Fresenius
Rachel Empey, CFO, Fresenius
Rice Powell, CEO, Fresenius Medical Care
Michael Sen, CEO, Fresenius Kabi
Late last year, Fresenius Medical Care (FMC) announced to the press it would be spending €450 million to fund restructuring of its operations into two divisions—care enablement and care delivery.
According to Bloomberg, this meant the company would plan to eliminate as many as 5,000 full-time positions as patient deaths from COVID-19 shrank the German kidney dialysis company’s revenue prospects.
Beyond the lost revenue from patient deaths, the firm also faces increased costs from safety measures and inflation. Dialysis patients are at a heightened risk of severe COVID and throughout the pandemic, according to the company, over 18,000 FMC patients died than would be expected from historical trends.
The company expected revenue and profit at the lower end of its guidance range at the time. FMC had forecast fatality rates to return to pre-pandemic levels by summer, but the Delta wave caused 2,700 more patient deaths in Q3 than expected.
Sales in Fresenius Medical Care (FMC) decreased by about 1% to reach €17.62 billion. (Medical device products make up 21% of this business). The sales decline was driven by negative exchange rate effects, partially offset by organic growth despite COVID-19 headwinds and lower calcimimetics reimbursement. Higher sales of chronic treatment machines and home dialysis products were offset by lower acute care treatment products.
FMC expanded its critical care offering last January via a co-marketing and distribution agreement with ExThera Medical for the Seraph 100 adsorber. Seraph 100 removes extracorporeal pathogens from blood and can be used with FMC acute dialysis machines. The technology has been CE-certified since 2019 to reduce pathogens during bloodstream infections in addition to anti-infective therapy.
The company made its dialysis clinics available for COVID-19 vaccination last March. Dialysis patients are an especially high-risk group for the virus because they average over 65 years old and often have other diseases and a weakened immune system.
A new technology center for developing Fresenius dialysis machines opened last April at the company’s Schweinfurt, Germany, site. The 220 employees from varying departments will collaborate on a project basis in the new 7,500-square-meter, five-floor building. The company had invested €22 million in the new facility, whose opening ceremony was an entirely virtual event.
Last August, FMC began using virtual reality (VR) to train patients in using continuous ambulatory peritoneal dialysis (CAPD). The stay•safe MyTraining VR was offered in Germany first, then extended to other Europe, Middle East, and Africa regions later in the year. The hardware comprises VR glasses and a controller. Patients learn hygiene procedures, preparation and post-therapy steps, bag-changing, and operation of the stay•safe DISC in various training modules. Each module can be adjusted to the patient’s pace and repeated as needed until it’s been mastered. The VR glasses even allow users to learn how to handle the system before catheter implantation.
Also in August, Fresenius Medical Care invested a further $25 million in Humacyte. FMC had acquired a $150 million stake in the regenerative medicine company in 2018. Humacyte is developing implantable human acellular vessels for multiple vascular repair, reconstruction, and replacement. These biologically produced blood vessels are made from banked human smooth muscle cells; they’re manufactured to be non-immunogenic and will be available “off the shelf.” when needed. The collaboration had also been expanded two months prior for FMC’s exclusive marketing of the human acellular vessel outside the U.S.
In November, Fresenius Medical Care launched its new FX CorAL dialyzer for hemodialysis. The dialyzer features a new Helixone hydro membrane that forms a gel-like layer of water on the inner membrane’s surface that reduces protein adsorption while blood is cleaned. This helps to achieve lower patient immune response induction while keeping high selective permeability for the removal of toxin and excess water.
CorAL is the newest dialyzer in FMC’s FX class of dialyzers that use polysulfone plastic for exceptional filtering and hemocompatibility. The dialyzer’s fiber structure ensures that dialysis fluid washes evenly around each fiber to improve clearance.
The Fresenius Kabi division’s proceeds rose 3% to €7.19 billion. There was continued demand for essential medicines and devices for COVID-19 treatment, offset by fewer elective treatments. In North America, supply constraints due to temporary production delays and increased competitive pressure strained sales. Strong growth occurred in Asia-Pacific due to elective treatment normalization in China and sustained recovery in other Asian markets.
Last February the firm began a more than €60 million investment into its Graz, Austria, production plant and nearby Werndorf, Austria, packaging center. The investments will focus on the freeze-drying area and lines for filling and packing glass bottles and prefilled syringes.
Siemens AG board member Michael Sen began his tenure as Fresenius Kabi CEO in April. He replaced nine-year leader Mats Henriksson, who left the company because of differing views on Fresenius Kabi’s future direction, according to a company statement. Sen was also CFO of Siemens Healthcare from 2008-2015.
“…I look forward to working with Michael Sen in the future,” Fresenius CEO Stephan Sturm told the press. “Fresenius Kabi’s business addresses several attractive growth areas in medicine. It is and will remain of central strategic importance for our healthcare group.”
Last May, Fresenius Kabi began an agreement with Corvida Medical to become the exclusive U.S. distributor for the HALO closed system drug-transfer device. The airtight, leak-proof device mechanically stops environmental contaminants from entering the system as well as prevents escape of drug or vapor concentrations outside the system. This minimizes individual and environmental exposure to drug vapor, aerosols, and droplets.
In September, the firm partnered with Health Care Logistics (HCL) in order to improve the efficiency of drug replenishment in hospitals and increase patient safety throughout their medication use. The collaboration made Fresenius Kabi’s +RFID smart-labeled medications usable with HCL’s Stat Stock inventory control solution. The automated RFID-based system can cut replenishment time in half and keep expired medications out of rotation. Kabi rolled out the first of its many planned +RFID smart-labeled medications in September 2020.
December saw a partnership with Omnicell to provide U.S. healthcare systems with new pharmacy tech for safety and efficiency to dispense controlled substances in patient care areas. Omnicell designed new cassettes for its Controlled Substance Dispenser specifically for Fresenius Kabi Simplist MicroVault pre-filled syringes. The new cassettes provide more flexibility and enhanced options for controlled substance management.
€5.84 Billion ($6.61 Billion)
Prior Fiscal: €5.84 Billion
Percentage Change: 0%
R&D Expenditure: €818M
No. of Employees: 316,078 (total)
Global Headquarters: Bad Homburg, Germany
KEY EXECUTIVES:
Stephan Sturm, Chairman of the Management Board, Fresenius
Rachel Empey, CFO, Fresenius
Rice Powell, CEO, Fresenius Medical Care
Michael Sen, CEO, Fresenius Kabi
Late last year, Fresenius Medical Care (FMC) announced to the press it would be spending €450 million to fund restructuring of its operations into two divisions—care enablement and care delivery.
According to Bloomberg, this meant the company would plan to eliminate as many as 5,000 full-time positions as patient deaths from COVID-19 shrank the German kidney dialysis company’s revenue prospects.
Beyond the lost revenue from patient deaths, the firm also faces increased costs from safety measures and inflation. Dialysis patients are at a heightened risk of severe COVID and throughout the pandemic, according to the company, over 18,000 FMC patients died than would be expected from historical trends.
The company expected revenue and profit at the lower end of its guidance range at the time. FMC had forecast fatality rates to return to pre-pandemic levels by summer, but the Delta wave caused 2,700 more patient deaths in Q3 than expected.
Sales in Fresenius Medical Care (FMC) decreased by about 1% to reach €17.62 billion. (Medical device products make up 21% of this business). The sales decline was driven by negative exchange rate effects, partially offset by organic growth despite COVID-19 headwinds and lower calcimimetics reimbursement. Higher sales of chronic treatment machines and home dialysis products were offset by lower acute care treatment products.
FMC expanded its critical care offering last January via a co-marketing and distribution agreement with ExThera Medical for the Seraph 100 adsorber. Seraph 100 removes extracorporeal pathogens from blood and can be used with FMC acute dialysis machines. The technology has been CE-certified since 2019 to reduce pathogens during bloodstream infections in addition to anti-infective therapy.
The company made its dialysis clinics available for COVID-19 vaccination last March. Dialysis patients are an especially high-risk group for the virus because they average over 65 years old and often have other diseases and a weakened immune system.
A new technology center for developing Fresenius dialysis machines opened last April at the company’s Schweinfurt, Germany, site. The 220 employees from varying departments will collaborate on a project basis in the new 7,500-square-meter, five-floor building. The company had invested €22 million in the new facility, whose opening ceremony was an entirely virtual event.
Last August, FMC began using virtual reality (VR) to train patients in using continuous ambulatory peritoneal dialysis (CAPD). The stay•safe MyTraining VR was offered in Germany first, then extended to other Europe, Middle East, and Africa regions later in the year. The hardware comprises VR glasses and a controller. Patients learn hygiene procedures, preparation and post-therapy steps, bag-changing, and operation of the stay•safe DISC in various training modules. Each module can be adjusted to the patient’s pace and repeated as needed until it’s been mastered. The VR glasses even allow users to learn how to handle the system before catheter implantation.
Also in August, Fresenius Medical Care invested a further $25 million in Humacyte. FMC had acquired a $150 million stake in the regenerative medicine company in 2018. Humacyte is developing implantable human acellular vessels for multiple vascular repair, reconstruction, and replacement. These biologically produced blood vessels are made from banked human smooth muscle cells; they’re manufactured to be non-immunogenic and will be available “off the shelf.” when needed. The collaboration had also been expanded two months prior for FMC’s exclusive marketing of the human acellular vessel outside the U.S.
In November, Fresenius Medical Care launched its new FX CorAL dialyzer for hemodialysis. The dialyzer features a new Helixone hydro membrane that forms a gel-like layer of water on the inner membrane’s surface that reduces protein adsorption while blood is cleaned. This helps to achieve lower patient immune response induction while keeping high selective permeability for the removal of toxin and excess water.
CorAL is the newest dialyzer in FMC’s FX class of dialyzers that use polysulfone plastic for exceptional filtering and hemocompatibility. The dialyzer’s fiber structure ensures that dialysis fluid washes evenly around each fiber to improve clearance.
The Fresenius Kabi division’s proceeds rose 3% to €7.19 billion. There was continued demand for essential medicines and devices for COVID-19 treatment, offset by fewer elective treatments. In North America, supply constraints due to temporary production delays and increased competitive pressure strained sales. Strong growth occurred in Asia-Pacific due to elective treatment normalization in China and sustained recovery in other Asian markets.
Last February the firm began a more than €60 million investment into its Graz, Austria, production plant and nearby Werndorf, Austria, packaging center. The investments will focus on the freeze-drying area and lines for filling and packing glass bottles and prefilled syringes.
Siemens AG board member Michael Sen began his tenure as Fresenius Kabi CEO in April. He replaced nine-year leader Mats Henriksson, who left the company because of differing views on Fresenius Kabi’s future direction, according to a company statement. Sen was also CFO of Siemens Healthcare from 2008-2015.
“…I look forward to working with Michael Sen in the future,” Fresenius CEO Stephan Sturm told the press. “Fresenius Kabi’s business addresses several attractive growth areas in medicine. It is and will remain of central strategic importance for our healthcare group.”
Last May, Fresenius Kabi began an agreement with Corvida Medical to become the exclusive U.S. distributor for the HALO closed system drug-transfer device. The airtight, leak-proof device mechanically stops environmental contaminants from entering the system as well as prevents escape of drug or vapor concentrations outside the system. This minimizes individual and environmental exposure to drug vapor, aerosols, and droplets.
In September, the firm partnered with Health Care Logistics (HCL) in order to improve the efficiency of drug replenishment in hospitals and increase patient safety throughout their medication use. The collaboration made Fresenius Kabi’s +RFID smart-labeled medications usable with HCL’s Stat Stock inventory control solution. The automated RFID-based system can cut replenishment time in half and keep expired medications out of rotation. Kabi rolled out the first of its many planned +RFID smart-labeled medications in September 2020.
December saw a partnership with Omnicell to provide U.S. healthcare systems with new pharmacy tech for safety and efficiency to dispense controlled substances in patient care areas. Omnicell designed new cassettes for its Controlled Substance Dispenser specifically for Fresenius Kabi Simplist MicroVault pre-filled syringes. The new cassettes provide more flexibility and enhanced options for controlled substance management.