Share
Services
The global healthcare group Fresenius is continuing to drive its portfolio optimization. The company has reached an agreement with PAI for the sale of the majority of Vamed’s rehabilitation business. Upon completion of the transaction, PAI will become the majority owner of the new company with 67 percent, while Fresenius will retain 33 percent. The rehabilitation business comprises 67 facilities with 9,100 beds and around 9,500 employees (FTE) across Germany, Austria, Switzerland, the Czech Republic, and the UK. It has an enterprise value of €853 million. In 2023, it generated revenues of approximately €1 billion and was profitable. Closing is expected in the second half of 2024, subject to regulatory approval and the customary closing conditions. Approval of the transaction by a Vamed General Meeting where Fresenius holds a requisite 77 percent majority is expected shortly. The transaction follows last year’s announcement to focus on the Operating Companies Fresenius Kabi and Fresenius Helios.
“Building on the encouraging momentum of #FutureFresenius, the divestment is another milestone in our portfolio optimization. The rehabilitation franchise is a perfect fit for the new owner and will ensure the continuity of the business. For Fresenius it will reduce complexity and free up management capacity to further focus on our core and driving growth. Our full dedication at Fresenius is to advancing patient care globally,” said Michael Sen, CEO of Fresenius.
The rehabilitation business is Vamed’s largest business unit and offers a comprehensive range of healthcare services outside of Fresenius’ core focus areas. The business has strong competitive positions, but significant capex and management focus is required to realize its full value potential. As a stand-alone business and benefitting from PAI’s vast expertise in managing complex assets, the new company will be well positioned to meet the needs of its patients even better.
PAI is an international private equity firm that invests in market-leading companies globally. It has an extensive investment track record in the healthcare sector including DomusVi, a leading player in the European residential elderly care sector.
The announced transaction is integral to the ongoing realignment of Fresenius Vamed’s distinct businesses. Fresenius initiated an in-depth analysis of Vamed’s business model, its governance and relevant processes in 2023. At the same time, a comprehensive and far-reaching restructuring program was initiated with the clear goal of increasing Vamed’s profitability.
UBS is acting as financial advisor and Latham & Watkins is serving as legal advisor to Fresenius.
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, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Elisabeth Jung
Manager Investor Relations
T: +49 (0) 6172 608-2419
elisabeth.jung@fresenius.com
Mara Sinsel
Senior Manager Investor Relations
T: +49 (0) 6172 608-96538
mara.sinsel@fresenius.com
Felix Klein
Senior Manager Investor Relations
T: +49 (0) 6172 608-96484
felix.klein@fresenius.com
Fresenius has successfully completed the divestment of its stake in the hospital Clínica Ricardo Palma in Lima, Peru. The sale marks Fresenius’ exit from the Peruvian hospital market and is in line with the company’s announcement to divest certain assets as part of #FutureFresenius.
Fresenius has successfully completed the divestment of its stake in the hospital Clínica Ricardo Palma in Lima, Peru. The sale marks Fresenius’ exit from the Peruvian hospital market and is in line with the company’s announcement to divest certain assets as part of #FutureFresenius.
Fresenius, via its operating company Fresenius Kabi, announced today the immediate U.S. availability of Tyenne® (tocilizumab-aazg), a biosimilar of Actemra®** (tocilizumab). Tyenne®, for use in the treatment of chronic autoimmune diseases, is available in an intravenous (IV) formulation.
Michael Sen, CEO of Fresenius: “With the launch of Tyenne® in the U.S., we have reached another important milestone in accelerating our strong (Bio)Pharma momentum going into 2024. Growing this platform is a substantial cornerstone of our #FutureFresenius journey. Overall, we have seen an encouraging performance of our (Bio)Pharma business so far. We are particularly happy with the good progress of our majority-owned biotechnology company mAbxience and the traction of Tyenne®.”
Tyenne® is the first tocilizumab biosimilar with an intravenous and subcutaneous formulation approved by the FDA. The biosimilar received FDA approval on March 5, 2024. Tyenne® is Fresenius’ third approved biosimilar available in the U.S. and the second within its immunology portfolio. The biologic medicine is indicated for the treatment of several autoimmune diseases, including rheumatoid arthritis, giant cell arteritis, polyarticular juvenile idiopathic arthritis, and systemic juvenile idiopathic arthritis.
Pierluigi Antonelli, CEO of Fresenius Kabi: “Tyenne® will impact the treatment landscape for inflammatory and immune diseases in the U.S. Reaching ever more patients with our state-of-the-art biopharma portfolio signals a clear growth path in a highly promising market segment. We will continue to roll out our comprehensive pipeline of autoimmune and oncology biosimilars with several molecules in late-stage development.”
Supported by Fresenius Kabi’s holistic support program for health care professionals and patients, the company’s biologic medicine provides wider access to more treatment options and contributes to the viability of health care systems. Next to its two available biosimilars, Idacio®*** (adalimumab) and Stimufend®**** (pegfilgrastim), Fresenius Kabi has a growing pipeline of autoimmune and oncology biosimilars with several molecules in late-stage development.
To learn more about how Fresenius Kabi provides comprehensive patient support for Tyenne® in the U.S. please click here.
With #FutureFresenius, Fresenius successfully set the course last year to become a leading therapy-focused company. In line with the strategy, Fresenius has simplified its structure, is sharpening its focus by concentrating on its operating companies Fresenius Kabi and Fresenius Helios and is continuously enhancing its performance.
About Tyenne®, a Tocilizumab Biosimilar
Tyenne® (tocilizumab-aazg), a biosimilar to Actemra® (tocilizumab), is a prescription medicine called an Interleukin-6 (IL-6) receptor antagonist. It was developed by Fresenius Kabi using advanced analytical and manufacturing technologies for use in the treatment of several autoimmune diseases, including rheumatoid arthritis, giant cell arteritis, polyarticular juvenile idiopathic arthritis, and systemic juvenile idiopathic arthritis. Serious infections leading to hospitalization or death including tuberculosis (TB), bacterial, invasive fungal, viral, and other opportunistic infections have occurred in patients receiving the product. Tyenne® is contraindicated in patients with known hypersensitivity to tocilizumab products. For more information about Tyenne®, please see the full prescribing information for the U.S. here.
Tyenne® demonstrates Fresenius Kabi’s commitment to providing access to affordable and cost-effective biosimilars to more patients living with autoimmune diseases around the world while enabling savings for health care systems. KabiCare, Fresenius Kabi’s comprehensive patient support program, will be available to patients and health care providers in the U.S. from launch.
About Fresenius Kabi
Fresenius Kabi is a global healthcare company that specializes in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition. The company’s products and services are used for the therapy and care of critically and chronically ill patients.
Its product portfolio comprises a range of highly complex biopharmaceuticals, clinical nutrition, medical technologies, and I.V. generic drugs. Within biopharmaceuticals, Fresenius Kabi offers, among others, biosimilar drugs with a focus on autoimmune diseases and oncology. The company’s clinical nutrition offering includes a wide selection of enteral and parenteral nutrition products. In the segment of medical technologies, its offering includes vital disposables, infusions pumps, apheresis machines, cell therapy devices, and more. Fresenius Kabi puts essential medicines and technologies in the hands of people who help patients and finds the best answers to the challenges they face.
Following its strategy “Vision 2026”, which is a key part of the #FutureFresenius program of the Fresenius healthcare group, the company is furthermore committed to increase efficiencies in the therapy and care of patients and improve access to high-quality healthcare around the globe. Fresenius Kabi aspires to be leading globally in its product segments – all for the benefit of patients, its customers, and its stakeholders.
*Tyenne® is a registered trademark of Fresenius Kabi Deutschland GmbH.
**Actemra® is a registered trademark of Chugai Seiyaku Kabushiki Kaisha Corp., a member of the Roche Group.
***Idacio® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries
****Stimufend® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries
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, the availability of financing and unforeseen impacts of international conflicts.
Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius, via its operating company Fresenius Kabi, announced today the immediate U.S. availability of Tyenne® (tocilizumab-aazg), a biosimilar of Actemra®** (tocilizumab).
Tyenne® is the first tocilizumab biosimilar with an intravenous and subcutaneous formulation approved by the FDA.
Tyenne® is the company’s third approved biosimilar available in the U.S. and the second within its immunology portfolio.
Michael Sen, CEO of Fresenius: “With the launch of Tyenne® in the U.S., we have reached another important milestone in accelerating our strong (Bio)Pharma momentum going into 2024. Growing this platform is a substantial cornerstone of our #FutureFresenius journey. Overall, we have seen an encouraging performance of our (Bio)Pharma business so far. We are particularly happy with the good progress of our majority-owned biotechnology company mAbxience and the traction of Tyenne®.”
*Tyenne® is a registered trademark of Fresenius Kabi Deutschland GmbH.
**Actemra® is a registered trademark of Chugai Seiyaku Kabushiki Kaisha Corp., a member of the Roche Group.
Fresenius Company Presentation for Investors and Analysts
