Senior Vice President Investor Relations
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Our goal is to strengthen the position of Fresenius as a leading global provider of products and therapies for critically and chronically ill people. With our four business segments, we are concentrating on a limited number of health care areas. As a result of this clear focus, we have developed unique competencies. We are following our long-term strategies consistently and are seizing our opportunities.
Fresenius’ goal is to ensure and expand its long-term position as a leading international provider of products and services in the health care industry. To this end, and to geographically expand our business, we plan to grow organically as well as through selective small to medium-sized acquisitions, complementing our existing portfolio. We focus on markets with strong growth rates.
Fresenius Medical Care is the worldwide leader in dialysis, with a strong market position in the United States. Future opportunities in dialysis will arise from further expansion in dialysis care and products worldwide, as well as the focused range in Care Coordination. In this area, Fresenius Medical Care offers additional services for the holistic care of patients and meets the increasing demand with this model.
Fresenius Kabi is the market leader in infusion therapy and/or clinical nutrition in Europe and in the key markets in Asia-Pacific (including China) and Latin America. In the United States, Fresenius Kabi is one of the leading players in the market for generic IV drugs. In addition, Fresenius Kabi is one of the most important providers of transfusion technology. Fresenius Kabi plans to roll out products from its existing portfolio to the growth markets and to launch existing products in the United States. Market share is to be expanded further through the launch of new products in the field of IV drugs, infusion therapy, clinical nutrition, and medical devices/transfusion technology.
With 86 hospitals, Fresenius Helios operates in nearly all of Germany. Building on this, Fresenius Helios is now in the position to develop new patient care models. To benefit from the trend towards outpatient treatment, Helios Germany has been expanding outpatient service offerings in a separate division since September 2018.
Helios Spain has attractive growth opportunities through the expansion and construction of hospitals, and potential for further consolidation in the highly fragmented private hospital market in Spain. Helios Health exploits upcoming opportunities for cross-border synergies in areas such as laboratory services and joint purchasing. The cross-border exchange of experience and knowledge is gradually creating the economic prerequisites for the further internationalization of our hospital business. Helios Spain announced the acquisition of Clínica Medellín in 2018. Fresenius Helios is thus entering the attractive private hospital market in Colombia.
Fresenius Vamed will further expand its position as a global specialist for projects and services for hospitals and other health care facilities. With the acquisition of Fresenius Helios’ German inpatient rehabilitation business, Fresenius Vamed developed itself into one of the leading providers of private rehabilitation services in Europe. Moreover, the cooperation with Fresenius Helios is being intensified, for example in technical services and procurement, where Fresenius Helios and Fresenius Vamed are now jointly purchasing certain products.
Fresenius’ strategy is to continue building on its strength in technology, its competence and quality in patient care, and its ability to manufacture cost-effectively. We want to develop products and systems that provide a high level of safety and user-friendliness and enable tailoring to individual patient needs. We intend to continue to meet our requirements of best-in-class medical standards by offering more effective products and treatment methods for the critically and chronically ill. Fresenius Kabi, for example, develops imitation products of biotechnologically produced drugs called biopharmaceuticals, with a focus on oncology and autoimmune diseases. Fresenius Helios’ goal is to foster knowledge sharing across its international hospital network and use innovation to develop the best health care services and therapies for its patients. Since September 2018, Helios Germany has been developing innovative business areas such as digital offerings in its own division. Fresenius Vamed’s goal is to realize further projects in integrated health care services and to support patient-oriented health care systems more efficiently.
Our goal is to continue to improve Group profitability. To contain costs, we are concentrating particularly on making our production plants more efficient, exploiting economies of scale, leveraging the existing marketing and distribution infrastructure more intensively, and practicing strict cost control. By focusing on our operating cash flow and employing efficient working capital management, we will increase our investment flexibility and improve our balance sheet ratios. Another goal is to optimize our weighted average cost of capital (WACC) by deliberately employing a balanced mix of equity and debt funding. In the present capital market conditions, we believe we optimize our cost of capital if we hold the net debt/EBITDA ratio within a range of 2.5 to 3.0 (before adoption of IFRS 16).