Fresenius Sells Controlling Stake in Vamed Rehab Business to PAI [BNN Bloomberg (Canada)]
FRESENIUS SE S/ADR (FSNUY)
NASDAQ:AMEX Investor Relations:
fresenius.com/index
Company Research
Source: BNN Bloomberg
PAI will own 67% of the entity, which has an enterprise value of €853 million ($914 million), Fresenius said in a statement on Thursday. Since taking the helm of the company in October 2022, Fresenius Chief Executive Officer Michael Sen has sought to simplify its strategy after years of complaints from investors that it was too complex. He's given priority to its Kabi intravenous-drug unit and Helios division, which owns and operates hospitals in Europe and Latin America. The Vamed business being sold includes 67 rehabilitation facilities located in central Europe and the UK. It posted sales of about €1 billion and was profitable in 2023, Fresenius said. The deal is expected to close in the second half of the year, and the German group will keep a 33% share. This isn't the first time Fresenius has retained a stake in a business after giving up control. Last year, it separated from its kidney-dialysis services division, Fresenius Medical Care AG, but kept a 32% holding. The ov
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News
- Compounding Pharmacy Global Strategic Business Report 2024: Market to Reach $17.7 Billion by 2030 from $13 Billion in 2023 [Yahoo! Finance]Yahoo! Finance
- STRABAG and PORR to acquire parts of VAMED group for €90m [Yahoo! Finance]Yahoo! Finance
- Fresenius Boosts Forecast, Confirms Plans to Exit Vamed Business [BNN Bloomberg (Canada)]BNN Bloomberg
- Fresenius Said to Plan Elimination of Vamed in Streamlining Step [BNN Bloomberg (Canada)]BNN Bloomberg
- Institutions own 30% of Fresenius SE & Co. KGaA (ETR:FRE) shares but retail investors control 43% of the company [Yahoo! Finance]Yahoo! Finance