Fresenius Kabi is expanding its activities in Indonesia. PT ETHICA Industri Farmasi, a joint venture of Fresenius Kabi and the Indonesian pharmaceuticals company SOHO Global Health, opened a new plant in Cikarang, just outside the country’s capital and biggest city Jakarta. The plant’s approximately 230 employees will produce a wide range of injectable drugs needed in therapeutic areas including gynecology, anesthesia and intensive care. The products are planned for use by Indonesian patients and for export to other Southeast Asian countries. Fresenius Kabi employs a total of about 530 people in Indonesia.
Fresenius Vamed has acquired a rehabilitation clinic in Switzerland, its third in the country. The clinic in Seewis has about 75 beds and specializes in heart disease, internal medicine and psychosomatic illnesses. Fresenius Vamed is now active in all major areas of rehabilitative medicine in Switzerland, with a clinic in Zihlschlacht that specializes in neurology and one in Dussnang specializing in orthopedics and geriatrics.
Fresenius Vamed has opened the Institute for Gender Medicine in cooperation with the Medical University of Vienna. This new research institute, in the Lower Austria town of Gars am Kamp, will focus on the different needs of female and male patients, for example in the interpretation of disease symptoms. Fresenius Vamed will be able to use the institute’s research findings to develop tailored treatment offerings in areas such as prevention and rehabilitation. The Institute for Gender Medicine complements initiatives for individualized medical care already being carried out by the VAMED International Medical Board and its approximately 650 physicians.
Quirónsalud, the Spanish hospital group that is part of Fresenius Helios, is undertaking a major expansion of University Hospital Quirónsalud Madrid. A new, 6,000-square-meter (almost 65,000-square-foot) wing scheduled for completion by next summer will add 52 new beds, bringing the hospital’s total to 288. The expansion will also include 25 doctors’ offices, nine resuscitation rooms and three delivery rooms, as well as two hybrid operating rooms that can be used both for conventional operations and for minimally invasive surgical procedures – so-called “keyhole surgery.” All expansion and modernization measures should be completed by the end of 2018. The total investment is about €31 million.
The price increase for hospital services in Germany has been set at 2.97% for 2018. This is in line with the level of past years.
Fresenius Medical Care has expanded its regional manufacturing plant in Bandar Enstek, Malaysia. Dato' Seri Dr. Chen Chaw Min, Secretary General of the Malaysian Ministry of Health graced the opening ceremony. The plant is a state-of-the-art facility and will be Fresenius Medical Care's regional manufacturing hub for Southeast Asia. In addition to supplying high-quality hemodialysis concentrates and disinfectants, the plant produces peritoneal dialysis (PD) products necessary for advanced continuous ambulatory PD treatment.
The amended 2013 Credit Agreement streamlines Fresenius’ financing structure by replacing the existing senior secured facilities with unsecured facilities. Concurrently, the guarantor structure was aligned, with Fresenius SE & Co KGaA now being sole guarantor. The Credit Agreement has an aggregate amount of approximately €3.8 billion and consists of revolving facilities and term loans with maturities in 2021 and 2022. The transaction was well received by investors and substantially oversubscribed. On the basis of the unsecured structure and consistent with the corporate credit rating of Fresenius, S&P has raised the rating of the Fresenius bonds to BBB- from BB+.
Fresenius Helios continues to invest in the expansion and modernization of its hospitals and clinics. HELIOS Clinic Geesthacht, located just east of Hamburg, has opened an extension with 20 additional neurological rehabilitation places for young people. The investment in the specialist clinic for neurology and neurological rehabilitation is €4.6 million. In the state of Saxony, meanwhile, work has started on a new building for the emergency ward at HELIOS Hospital Leisnig. This €3.3 million project is scheduled for completion in autumn 2018.
Fresenius Helios is investing more than €18 million to expand the company’s hospital in the German town of Bad Saarow, about 25 kilometers (15 miles) east of Berlin. The project at HELIOS Hospital Bad Saarow includes construction of a new building that will add bed capacity to meet growing demand, and an expansion of the radiology department. The construction is scheduled for completion in spring 2019.
Fresenius was presented yesterday with the Corporate Finance Award for the company's acquisition of Quirónsalud, Spain’s largest private hospital operator. The award is given annually by the major German business daily Börsen-Zeitung for transactions judged to be outstanding in both strategical and financial terms. Fresenius won in the Large Caps category, which groups major companies. With the Quirónsalud acquisition, the Börsen-Zeitung said, “Fresenius succeeded in making a quantum leap in the hospital business."
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