The “Wir für Gesundheit” hospital network in Germany continues to grow: PlusCard, a supplementary company health insurance, will be accepted starting immediately at Klinikum Ingolstadt. With more than 1,000 beds, this hospital is one of the largest in the state of Bavaria. PlusCard offers employers various coverage options to provide employees with different levels of service and comfort. “Wir für Gesundheit” was formed by hospital operators Asklepios, Fresenius Helios and Rhön, and has more than 120 partner hospitals in Germany committed to comply with quality standards far higher than those required by law.
Fitch has upgraded the corporate credit rating of Fresenius from BB+ to BBB- with a stable outlook. The upgrade reflects Fitch's view that Fresenius' business profile has improved over the last years driven by increasing scale and diversification as well as strong profitability and cash generation. In addition, Fitch considers the underlying operations to be mature and defensive with low cyclicality and low volatility of earnings. Standard & Poor’s and Moody’s have upgraded the corporate credit rating of Fresenius to investment grade in 2015.
Fresenius Helios has celebrated the official groundbreaking for a new main building at HELIOS Hospital Dr. Horst Schmidt Kliniken in the German city of Wiesbaden. HELIOS is providing almost €200 million of the approximately €265 million total investment, with the rest coming from the state of Hesse. The seven-story structure will have some 96,000 square meters – about 1 million square feet – of floor space. The departments will be arranged using a functional design concept that minimizes distances for patients and staff. This will reduce waiting times. Completion is scheduled for 2020.
September 19, 2016
London, UK
Barclays European High Yield and Leveraged Finance Conference
September 19 – 21, 2016
September 07, 2016
London, UK
Bank of America Merrill Lynch – European Credit Loans Conference
September 7 – 9, 2016
Fresenius Helios has opened the new building at its hospital in the northern German city of Schleswig. The 32,000-square-meter (344,000-square-foot) structure will accommodate up to 400 inpatients. Construction took two and a half years, with Fresenius Helios providing €30 million of the total investment sum of €80 million. The move from the existing facility into the new building will take place in mid-July.
The Supervisory Board of Fresenius Management SE has unanimously appointed Stephan Sturm (52) as Chief Executive Officer of Fresenius as of July 1, 2016. Stephan Sturm succeeds Ulf Mark Schneider (50), who has decided to leave the company effective June 30, 2016 to pursue another opportunity.
Ulf Mark Schneider assumed his current position as CEO of Fresenius on May 28, 2003. Under his leadership, the company has seen significant growth. Group sales have increased fourfold and net income rose more than twelvefold.
Gerd Krick, Chairman of Fresenius Management SE’s Supervisory Board, commented: “On behalf of the Supervisory Board I would like to thank Ulf Mark Schneider for his extraordinary leadership and tremendous accomplishments over the past 13 years. He has led Fresenius through a period of exciting and sustainable growth and has truly transformed the company. While we regret his departure we wish him the very best for his future endeavors.”
Stephan Sturm has served as Fresenius Group’s Chief Financial Officer since January 1, 2005. In this capacity he has made significant contributions to develop Fresenius into a leading global healthcare group. He has played a key role in major acquisitions. His innovative and highly successful financing activities facilitated the company’s strong and sustainable growth. Stephan Sturm has also assured the company’s overall efficiency and profitability during this major expansion.
Gerd Krick said: “We are delighted to appoint Stephan Sturm as our new CEO. The Supervisory Board could not have wished for a better qualified and experienced leader to succeed Ulf Mark Schneider in this role. Stephan Sturm has been a member of the Fresenius Management Board for more than 11 years. He has a highly successful track-record as the Group’s CFO and has made major contributions towards executing our successful growth strategy. The appointment of Stephan Sturm as the Fresenius Group’s new CEO demonstrates continuity at the helm of the company. He has the full support of the Supervisory Board and we look forward to working with him as we continue to grow our business.”
Stephan Sturm said: “I am approaching my new role with both excitement and respect. The future of Fresenius continues to look bright. I am fully committed to meeting our targets, executing on our growth strategy and contributing to affordable high-quality healthcare around the globe.”
Fresenius confirms its guidance for 2016. Sales are expected to increase by 6% to 8% in constant currency. Net income* is expected to grow by 8% to 12% in constant currency. The company also confirms its mid-term outlook: For 2019, Group sales are expected to reach €36 billion to €40 billion**. Group net income*** is expected to increase to €2.0 billion to €2.25 billion**.
* Net income attributable to shareholders of Fresenius SE & Co. KGaA; 2015 before special items
** At comparable exchange rates; including small and mid-size acquisitions
*** Net income attributable to shareholders of Fresenius SE & Co. KGaA
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
The Supervisory Board of Fresenius Management SE has unanimously appointed Stephan Sturm (52) as Chief Executive Officer of Fresenius as of July 1, 2016. Stephan Sturm succeeds Ulf Mark Schneider (50), who has decided to leave the company effective June 30, 2016 to pursue another opportunity.
Ulf Mark Schneider assumed his current position as CEO of Fresenius on May 28, 2003. Under his leadership, the company has seen significant growth. Group sales have increased fourfold and net income rose more than twelvefold.
Gerd Krick, Chairman of Fresenius Management SE’s Supervisory Board, commented: “On behalf of the Supervisory Board I would like to thank Ulf Mark Schneider for his extraordinary leadership and tremendous accomplishments over the past 13 years. He has led Fresenius through a period of exciting and sustainable growth and has truly transformed the company. While we regret his departure we wish him the very best for his future endeavors.”
Stephan Sturm has served as Fresenius Group’s Chief Financial Officer since January 1, 2005. In this capacity he has made significant contributions to develop Fresenius into a leading global healthcare group. He has played a key role in major acquisitions. His innovative and highly successful financing activities facilitated the company’s strong and sustainable growth. Stephan Sturm has also assured the company’s overall efficiency and profitability during this major expansion.
Gerd Krick said: “We are delighted to appoint Stephan Sturm as our new CEO. The Supervisory Board could not have wished for a better qualified and experienced leader to succeed Ulf Mark Schneider in this role. Stephan Sturm has been a member of the Fresenius Management Board for more than 11 years. He has a highly successful track-record as the Group’s CFO and has made major contributions towards executing our successful growth strategy. The appointment of Stephan Sturm as the Fresenius Group’s new CEO demonstrates continuity at the helm of the company. He has the full support of the Supervisory Board and we look forward to working with him as we continue to grow our business.”
Stephan Sturm said: “I am approaching my new role with both excitement and respect. The future of Fresenius continues to look bright. I am fully committed to meeting our targets, executing on our growth strategy and contributing to affordable high-quality healthcare around the globe.”
Fresenius confirms its guidance for 2016. Sales are expected to increase by 6% to 8% in constant currency. Net income* is expected to grow by 8% to 12% in constant currency. The company also confirms its mid-term outlook: For 2019, Group sales are expected to reach €36 billion to €40 billion**. Group net income*** is expected to increase to €2.0 billion to €2.25 billion**.
* Net income attributable to shareholders of Fresenius SE & Co. KGaA; 2015 before special items
** At comparable exchange rates; including small and mid-size acquisitions
*** Net income attributable to shareholders of Fresenius SE & Co. KGaA
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
September 07, 2016
London, UK
Goldman Sachs – 13th Annual European Medtech and Healthcare Services Conference
September 7 – 8, 2016