The resolutions on authorized capitals adopted by a large majority at Fresenius SE's annual general meeting on May 8, 2009, are final and binding. This results from the decision delivered today by the appellate court (Oberlandesgericht) in Frankfurt am Main, Germany, with regard to a judicial clearance proceeding (Freigabeverfahren) initiated by Fresenius. An appeal to a higher court is not available. As a consequence, the authorized capitals, which are already recorded in the commercial register, are definitively available.

The judicial clearance proceeding was prompted by legal challenges filed by two individual shareholders. The court's presiding division (Senat) upheld Fresenius SE's argument that the company's interest in implementing the resolutions outweighs the plaintiffs' interest in staying such implementation. The legal challenge underlying the decision is pending with the same court. However, this forthcoming decision has now become irrelevant with respect to the authorized capital resolutions covered by the clearance proceeding.

Authorized capital is commonly used by companies to maintain financial flexibility. Fresenius has currently no plans for a capital increase.

The management and supervisory boards of Fresenius SE have unanimously resolved today to propose at its annual general meeting on May 12, 2010, the conversion of all preference shares into ordinary shares in combination with a change of the company's legal form into a partnership limited by shares – Kommanditgesellschaft auf Aktien (KGaA).

Ulf Mark Schneider, CEO of Fresenius SE: "With the creation of a single share class we will further strengthen Fresenius' position in the capital markets and increase the trading liquidity of our shares. This will enhance the attractiveness of Fresenius stock for the benefit of all investors. We will maintain our high standards of corporate governance and transparency."

The unified share structure is expected to have a positive effect on Fresenius' position in the German DAX30 index (Deutscher Aktienindex). The index currently only includes the preference shares and therefore just 50% of the company's share capital.

Under the terms of the cashless transaction, all non-voting preference shares in Fresenius SE will mandatorily be converted into voting ordinary shares at a 1:1 exchange ratio and the legal form of the company will be changed into a KGaA. The total share capital will remain unchanged. Following the conversion, each share will carry one voting right.

The proposed legal form of a KGaA enables Fresenius to achieve the benefits of a single share class, while maintaining the control position of the charitable Else Kröner-Fresenius Foundation. The foundation currently holds approximately 58% of the ordinary shares in Fresenius SE. The general partner of the KGaA will be a European company, Fresenius Management SE, a wholly-owned subsidiary of the foundation. The general partner's management will be identical to Fresenius SE's current executive team and will assume the management of Fresenius SE & Co. KGaA. The KGaA legal form builds on the successful model created by Fresenius Medical Care in 2005.

The Else Kröner-Fresenius Foundation has informed the company that it will endorse the resolution and retain its shareholding in Fresenius. The foundation has been a reliable shareholder with a long-term interest in the development of Fresenius, contributing to a stable shareholder structure. The foundations' right to act as the general partner is tied to a holding of more than 10% of the share capital of Fresenius SE & Co. KGaA.

Conversion into a KGaA will neither lead to a liquidation of the company nor to the formation of a new legal entity. There will be no change of control. In addition, the change of the legal form does not result in any negative tax consequences for Fresenius.

Commerzbank and Morgan Stanley are advising Fresenius on this transaction.

Annual General Meeting
At the annual general meeting on May 12, 2010, the ordinary and preference shareholders will be asked to approve the conversion of preference shares into ordinary shares in combination with the change of the company's legal form into a KGaA. The agenda will be available as from March 31, 2010, on the company's web site www.fresenius.com, under the section Investor Relations / Annual General Meeting.

Summary First Quarter 2010

  

Bad Homburg, Germany – Fresenius Medical Care AG & Co. KGaA ("the Company" or "FMC AG & Co. KGaA"), the world's largest provider of dialysis products and services, today announced its results for the first quarter of 2010.


Revenue

Net revenue for the first quarter of 2010 increased by 13% to $2,882 million (+10% at constant currency) compared to the first quarter of 2009. Organic revenue growth worldwide was 8%. Dialysis services revenue grew by 13% to $2,171 million (+11% at constant currency) in the first quarter of 2010. Dialysis product revenue rose by 12% to $711 million (+5% at constant currency) in the same period.

North America revenue increased by 10% to $1,960 million. Organic revenue growth was 8%. Dialysis services revenue grew by 12% to $1,760 million. Average revenue per treatment for U.S. clinics increased to $355 in the first quarter of 2010 compared to $338 for the corresponding quarter in 2009. This development was attributable principally to reimbursement increases and increased utilization of pharmaceuticals. Dialysis product revenue increased by 1% to $200 million, led by higher sales of hemodialysis disposables and pharmaceuticals. In peritoneal dialysis we are focused on the continued market launch of the Liberty Cycler, resulting in a 13% growth internally.

International revenue increased by 17% to $922 million. Based on constant currency, revenue grew by 8%. Organic revenue growth was 6%. Dialysis services revenue was $411 million, an increase of 19% (+9% at constant currency). Dialysis product revenue increased by 16% to $511 million (+7% at constant currency), supported by higher sales of dialyzers and dialysis machines.
 

Earnings

Operating income (EBIT) for the first quarter of 2010 increased by 7% to $423 million compared to the first quarter of 2009. The operating margin decreased from 15.5% in the first quarter of 2009 to 14.7% in the first quarter of 2010.

In North America, the operating margin increased from 15.3% in the first quarter of 2009 to 15.6% in the first quarter of 2010. The margin development was impacted favorably by an increase in revenue per treatment and effective cost-containment measures.

In the International segment, the operating margin decreased from 18.7% in the first quarter of 2009 to 16.4% in the first quarter of 2010. The margin development was influenced negatively by the devaluation of the Venezuelan Bolivar.

Net interest expense for the first quarter of 2010 was $67 million compared to $74 million in the comparable quarter of 2009, mainly due to lower short-term interest rates.

Income tax expense was $128 million for the first quarter of 2010 compared to $111 million in the first quarter of 2009, reflecting effective tax rates of 35.8% and 34.3%, respectively.

Net income attributable to FMC AG & Co. KGaA for the first quarter of 2010 was $211 million, an increase of 7% compared to the first quarter of 2009.

Earnings per share (EPS) for the first quarter of 2010 rose by 6% to $0.70 per ordinary share. The weighted average number of shares outstanding for the first quarter of 2010 was approximately 299.6 million shares compared to 297.7 million shares for the first quarter of 2009. The increase in shares outstanding resulted from stock option exercises in the past 12 months.

Cash Flow

In the first quarter of 2010, the Company generated $349 million in cash from operations, an increase of 124% compared to the first quarter of 2009 and representing approximately 12% of revenue. The cash flow performance was influenced positively by improvements in working capital, increased earnings and lower income tax payments.

A total of $99 million was spent for capital expenditures, net of disposals. Free cash flow before acquisitions was $250 million compared to $45 million in the first quarter of 2009. A total of $82 million in cash was used for acquisitions net of divestitures. Free cash flow after acquisitions and divestitures was $168 million compared to $9 million in the first quarter of the previous year.

Please refer to the appendix for a complete overview on the first quarter of 2010.

Patients – Clinics – Treatments

As of March 31, 2010, Fresenius Medical Care treated 198,774 patients worldwide, which represents a 6% increase compared to the previous year. North America provided dialysis treatments for 133,105 patients, an increase of 5%. Including 30 clinics managed by Fresenius Medical Care North America, the number of patients in North America was 134,847. The International segment served 65,669 patients, an increase of 9% over the prior year's figure.

As of March 31, 2010, the Company operated a total of 2,580 clinics worldwide, which represents a 5% increase compared to the previous year. The number of clinics is comprised of 1,788 clinics in North America (1,818 including managed clinics), and 792 clinics in the International segment, representing an increase of 4% and 8%, respectively.

Fresenius Medical Care delivered approximately 7.51 million dialysis treatments worldwide during the first quarter of 2010. This represents an increase of 7% over the same quarter last year. North America accounted for 5.03 million treatments, an increase of 6%, and the International segment delivered 2.47 million treatments, an increase of 8%.

Employees

As of March 31, 2010, Fresenius Medical Care had 69,329 employees (full-time equivalents) worldwide compared to 67,988 employees at the end of 2009. This increase of 1,341 employees is due to overall growth in the Company's business.

Debt/EBITDA Ratio

The ratio of debt to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) decreased from 2.64 at the end of the first quarter of 2009 to 2.30 at the end of the first quarter of 2010.


Rating

There have been no rating changes in the first quarter of 2010. On April 29, 2010, Standard & Poor's Rating Services has raised the outlook from ‘stable' to 'positive'. Standard & Poor's continues to rate the Company's corporate credit as ‘BB'. Moody's rates the Company's corporate credit as ‘Ba1' with a ‘stable' outlook. Fitch rates the Company's corporate credit as ‘BB' with a ‘stable' outlook.

For further information on Fresenius Medical Care's credit ratings, maturity profiles and credit instruments, please visit our website at www.fmc-ag.com / Investor Relations / Credit Relations.

Issuance of Senior Notes

At the start of 2010, Fresenius Medical Care issued €250 million aggregate principal amount of senior notes with a maturity in 2016. The proceeds from the issue were used to pay back short-term financial liabilities and for general business purposes.


Outlook for 2010

For the full year of 2010, the Company confirms its outlook.

Revenue is expected to grow to more than $12 billion.

Net income attributable to FMC AG & Co. KGaA is expected to be between $950 million and $980 million in 2010.

The Company expects to spend $550 million to $650 million on capital expenditures and up to $400 million on acquisitions. The debt/EBITDA ratio is expected to be below 2.5 by the end of 2010.

"We are pleased to report a strong start for 2010 and we confirm our outlook for the full year," said Ben Lipps, chief executive officer of Fresenius Medical Care. "Strong organic growth is expected to continue and we also expect to strengthen our global presence through selective acquisitions, especially in the area of dialysis services. We had an excellent cash flow performance in the first quarter of 2010, supported by a continued impressive development in the days sales outstanding. Our most important goal for clinical and product research is to continue improving our patients' quality of life with innovative products and treatment concepts. We remain confident that we are well-positioned to meet our challenges, in particular the global reimbursement structural changes, and we look forward to the opportunity to further improve quality outcomes under these payment models."

Conference Call

Fresenius Medical Care will hold a conference call to discuss the results of the first quarter of 2010 on Tuesday, May 4, 2010, at 3:30 p.m. CEDT / 9:30 a.m. EDT. The Company invites investors to view the live webcast of the call at the Company's website www.fmc-ag.com. A replay will be available shortly after the call.

• Sales: €3.6 billion, +8% at actual rates, +10% in constant currency
• EBIT: €500 million, +5% at actual rates, +7% in constant currency
• Net income*: €119 million, +8% at actual rates, +8% in constant currency

• Continued strong growth in all business segments
• Charges arising from the devaluation of the Venezuelan bolivar and the amendment of the syndicated credit agreement fully included in reported results
• Cash flow margin increases to 12%
• All business segments on track - 2010 outlook fully confirmed

*Net income attributable to Fresenius SE; adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds (MEB) and the Contingent Value Rights (CVR) related to the acquisition of APP Pharmaceuticals. Both are non-cash items.

Ulf Mark Schneider, CEO of Fresenius SE: "All our business segments made significant progress and achieved excellent results in the first quarter of 2010. We will continue to focus on revenue growth and our operating margin. Our first-quarter results give us full confidence in confirming our outlook for 2010. We expect Group net income to be at the upper end of our guidance."

Outlook for 2010 confirmed
Based on the Group's strong first-quarter financial results Fresenius confirms its positive outlook for 2010: Sales growth in constant currency is projected to be in a 7 to 9% range. Net income* is expected to increase by 8 to 10% in constant currency.

The Group plans to invest approximately 5% of sales in property, plant and equipment.

The net debt/EBITDA ratio is expected to improve further and reach a level below 3.0.

*Net income attributable to Fresenius SE; adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds (MEB) and the Contingent Value Rights (CVR) related to the acquisition of APP Pharmaceuticals. Both are non-cash items.

Sales growth of 10% in constant currency
Group sales increased by 10% in constant currency and by 8% at actual rates to €3,643 million (Q1 2009: €3,373 million). Organic sales growth was 9%. Acquisitions contributed a further 1%. Currency translation had a negative impact of 2%.

Sales growth in the business segments was as follows:

In Europe, sales grew by 10% in constant currency with organic sales growth contributing 9%. In North America, sales grew by 11% in constant currency. Organic growth was 9%. The organic growth rates in the emerging markets reached 4% in Asia-Pacific and 13% in Latin America. The low organic growth in Asia-Pacific is due to the volatility of the project business of Fresenius Vamed.

Continued strong earnings growth
Group EBITDA increased by 8% in constant currency and by 6% at actual rates to €649 million (Q1 2009: €613 million). Group EBIT grew by 7% in constant currency and by 5% at actual rates to €500 million (Q1 2009: €477 million). The EBIT margin was 13.7% (Q1 2009: 14.1%). At Fresenius Medical Care, the EBIT margin was impacted by the devaluation of the Venezuelan bolivar and related charges. As expected, Fresenius Kabi's EBIT margin was lower than in the first quarter of 2009 mainly due to delayed IV drug product launches and continued price competition in the U.S. market. The Group EBIT margin is expected to improve over the course of the year

Group net interest improved slightly to -€143 million (Q1 2009: -€145 million). Net interest includes one-time charges in a low single-digit million-euro range related to the reduction and renegotiation of the 2008 syndicated credit agreement.

The other financial result was -€51 million and includes valuation changes of the fair redemption value of the Mandatory Exchangeable Bonds (MEB) of -€69 million and the Contingent Value Rights (CVR) of €18 million. Both are non-cash items.

The adjusted Group tax* rate was 33.3% (Q1 2009 adjusted: 32.2%). The increase is attributable, among others, to the charges in Venezuela which are not tax deductible. The adjusted Group tax rate is expected to decrease over the course of the year.

Noncontrolling interest increased to €119 million (Q1 2009: €115 million), of which 93% was attributable to the minority interest in Fresenius Medical Care.

Group net income** grew both in constant currency and at actual rates by 8% to €119 million (Q1 20092: €110 million). Earnings per ordinary share** and earnings per preference share** increased both to €0.74 (Q1 20092: ordinary share €0.68, preference share €0.68). This represents an increase of 8% for both share classes.

Net income*** (including special items) was €88 million, or €0.54 per ordinary share and €0.54 per preference share.

*Adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds (MEB) and the Contingent Value Rights (CVR) related to the acquisition of APP Pharmaceuticals.
**Net income attributable to Fresenius SE; adjusted for the effects of mark-to-market accounting of the Mandatory Exchangeable Bonds (MEB) and the Contingent Value Rights (CVR) related to the acquisition of APP Pharmaceuticals. Both are non-cash items.
***Net income attributable to Fresenius SE.

Continued investments in growth
The Fresenius Group spent €124 million in Q1 2010 on property, plant and equipment (Q1 2009: €128 million). Acquisition spending was €81 million (Q1 2009: €112 million).

Excellent cash flow development
Operating cash flow increased significantly to €438 million (Q1 2009: €182 million), driven by strong earnings growth and tight working capital management. The cash flow margin improved to 12.0% (Q1 2009: 5.4%). Net capital expenditure was only €130 million (Q1 2009: €147 million). Cash flow before acquisitions and dividends significantly improved to €308 million (Q1 2009: €35 million). Free cash flow after acquisitions and dividends was €218 million (Q1 2009: -€62 million).

Solid balance sheet structure
The Fresenius Group's total assets grew by 6% to €22,048 million (December 31, 2009: €20,882 million). In constant currency, the increase was 1%. Current assets increased by 4% in constant currency and by 8% at actual rates to €5,795 million (December 31, 2009: €5,363 million). Non-current assets were at €16,253 million, an increase of 5% (December 31, 2009: €15,519 million).

Total shareholders' equity increased by 7% to €8,182 million (December 31, 2009: €7,652 million). The equity ratio (including noncontrolling interest) improved to 37.1% (December 31, 2009: 36.6%).

Group debt grew by 2% to €8,500 million (December 31, 2009: €8,299 million). In constant currency, Group debt decreased by 2%. In Q1 2010, Fresenius considerably improved the terms of its 2008 syndicated credit agreement. Pursuant to the amended agreement, the interest rate of the approximately US$1.2 billion term loan B (new term loan C) will be reduced by one-third. The new applicable interest rate will consist of the relevant money market rate (LIBOR and EURIBOR) subject to a 1.50% floor (formerly 3.25%), plus a 3.00% margin (formerly 3.50%). One-time charges related to the amendment slightly impacted Fresenius' results for the first quarter of 2010. Fresenius expects a positive contribution from the amendment for the full fiscal year.

The net debt/EBITDA ratio remained unchanged at 3.0 as of March 31, 2010 (December 31, 2009: 3.0). In constant currency, the net debt/EBITDA continued to improve.

Number of employees increased
As of March 31, 2010, Fresenius employed 132,246 people (December 31, 2009: 130,510). This is an increase of 1%.

Fresenius Biotech
Fresenius Biotech develops innovative therapies with trifunctional antibodies for the treatment of cancer. In the field of polyclonal antibodies, Fresenius Biotech has successfully marketed ATG-Fresenius S for many years. ATG-Fresenius S is an immunosuppressive agent used to prevent and treat graft rejection following organ transplantation.

Fresenius Biotech has successfully marketed ATG-Fresenius S for many years. ATG-Fresenius S is an immunosuppressive agent used to prevent and treat graft rejection following organ transplantation.
Fresenius Biotech reported sales of approximately €0.8 million with the trifunctional antibody Removab (catumaxomab) in the first quarter of 2010. Market launches in other European countries are in preparation.

Fresenius Biotech's EBIT was -€8 million (Q1 2009: -€10 million). For 2010, Fresenius Biotech confirms its guidance of an EBIT between -€35 and -40 million.

Business Segments

Fresenius Medical Care
Fresenius Medical Care is the world's leading provider of services and products for patients with chronic kidney failure. As of March 31, 2010, Fresenius Medical Care was treating 198,774 patients in 2,580 dialysis clinics.
.

• High organic sales growth of 8%
  2010 outlook fully confirmed

Fresenius Medical Care achieved sales growth of 13% to US$2,882 million (Q1 2009: US$2,560 million). Organic growth accounted for 8%, acquisitions contributed 2% and currency translation contributed a further 3%.

Sales in dialysis care increased by 13% to US$2,171 million (Q1 2009: US$1,923 million). Dialysis product sales grew by 12% at actual rates and 5% in constant currency to US$711 million (Q1 2009: US$636 million).

In North America, sales increased by 10% to US$1,960 million (Q1 2009: US$1,774 million). Dialysis services revenue increased by 12% to US$1,760 million. Average revenue per treatment for U.S. clinics increased to US$355 in the first quarter of 2010 compared to US$338 for the corresponding quarter in 2009. This development was attributable principally to reimbursement increases and increased utilization of pharmaceuticals. Sales in dialysis products improved by 1% to US$200 million.

Sales outside North America ("International" segment) grew by 17% at actual rates and by 8% in constant currency to US$922 million (Q1 2009: US$786 million). Sales in dialysis care increased by 19% (9% in constant currency) to US$411 million. Dialysis product sales improved by 16% (7% in constant currency) to US$511 million.

EBIT increased by 7% to US$423 million (Q1 2009: US$396 million) resulting in an EBIT margin of 14.7% (Q1 2009: 15.5%). In North America, the EBIT margin increased to 15.6% (Q1 2009: 15.3%). The margin development was favorably influenced by an increase in revenue per treatment and cost-containment measures.

In the International segment, the EBIT margin was 16.4% (Q1 2009: 18.7%). The EBIT margin was impacted by the devaluation of the Venezuelan bolivar and related charges.
Net income* increased by 7% to US$211 million (Q1 2009: US$198 million).

For 2010, Fresenius Medical Care expects to achieve revenue of more than US$12 billion. Net income* is expected to be between US$950 and 980 million.

For further information, please see Fresenius Medical Care's Press Release at www.fmc-ag.com.

*Net income attributable to Fresenius Medical Care AG & Co. KGaA

Fresenius Kabi
Fresenius Kabi offers infusion therapies, intravenously administered generic drugs and clinical nutrition for seriously and chronically ill patients in the hospital and out-patient environments. The company also is a leading provider of medical devices and transfusion technology products.

High organic sales growth of 9%
2010 outlook fully confirmed

Sales increased by 11% to €800 million (Q1 2009: €722 million). Organic sales growth was 9%. Acquisitions contributed 1%. Currency translation had a positive impact of 1%.

In Europe, sales reached €409 million (Q1 2009: €376 million), driven by 6% organic growth. In North America, sales increased to €179 million (Q1 2009: €168 million). Organic growth was 11%. In the Asia-Pacific region, Fresenius Kabi achieved organic sales growth of 14% to €128 million (Q1 2009: €111 million). Sales in Latin America and Africa increased to €84 million (Q1 2009: €67 million), and organic growth was 7%.

EBIT grew by 5% to €145 million (Q1 2009: €138 million). The EBIT margin was 18.1% (Q1 2009: 19.1%). As expected, the EBIT margin decreased mainly due to delayed IV drug product launches and continued price competition in the U.S. market. Net interest improved slightly to -€74 million (Q1 2009: -€79 million). Net income* grew by 21% to €46 million (Q1 2009: €38 million).

Sales at APP Pharmaceuticals increased by 12% to US$216 million (Q1 2009: US$192 million). APP Pharmaceuticals achieved significant sales growth of 14% in its product portfolio excluding heparin. Adjusted EBITDA** reached US$72 million (Q1 2009: US$81 million). EBIT was US$55 million (Q1 2009: US$61 million). The EBIT margin was 25.6%.

Operating cash flow of Fresenius Kabi increased significantly to €74 million (Q1 2009: €40 million). The cash flow margin improved to 9.3% (Q1 2009: 5.5%). Cash flow before acquisitions and dividends was strong at €42 million (Q1 2009: €3 million).

Fresenius Kabi fully confirms its outlook for 2010: The company targets organic sales growth between 7 and 9% for 2010. Furthermore, Fresenius Kabi forecasts an EBIT margin between 18 and 19%.

Special items relating to the acquisition of APP Pharmaceuticals are included in the segment "Corporate/Other".

*Net income attributable to Fresenius Kabi AG.
**Non-GAAP financial measures - Adjusted EBITDA is a defined term in the indenture governing the Contingent Value Rights (CVRs), however it is not a recognized term under GAAP.

Fresenius Helios
Fresenius Helios is one of the largest private hospital operators in Germany. The HELIOS Kliniken Group owns 61 hospitals, including five maximum care hospitals in Berlin-Buch, Erfurt, Krefeld, Schwerin and Wuppertal. HELIOS treats more than 2 million patients per year, thereof ~600,000 in-patients, and operates a total of more than 18,500 beds.

Continued high organic sales growth of 6%
2010 outlook fully confirmed

Sales increased by 5% to €608 million (Q1 2009: €577 million). Organic growth was again strong and achieved 6%. This was driven by an increase in hospital admissions. Divestitures reduced sales growth by 1%.

EBIT grew by 18% to €52 million (Q1 2009: €44 million). The EBIT margin improved to 8.6% (Q1 2009: 7.6%). Net income* increased by 40% to €28 million (Q1 2009: €20 million).

Fresenius Helios fully confirms its outlook for 2010. The company expects to achieve organic sales growth of 3 to 5%. EBIT is projected to be between €220 and 230 million..

*Net income attributable to HELIOS Kliniken GmbH.

Fresenius Vamed
Fresenius Vamed offers engineering and services for hospitals and other health care facilities. 
 

Order intake nearly tripled - order backlog at new all-time high
Outlook 2010 fully confirmed

Sales increased by 34 % to €156 million (Q1 2009: €116 million). This excellent increase was fully achieved by organic growth. Sales in the project business rose by 50% to €102 million (Q1 2009: €68 million). Sales in the service business increased by 13% to €54 million (Q1 2009: €48 million).

EBIT increased by 75% to €7 million (Q1 2009: €4 million). The EBIT margin improved to 4.5% (Q1 2009: 3.4%). Net income* rose by 50% to €6 million (Q1 2009: €4 million).

The excellent development of order intake and order backlog continued: Order intake in the project business nearly tripled to €260 million (Q1 2009: €88 million). This includes two turnkey contracts, for a hospital in Austria with an order volume of €102 million, and for a hospital with a cancer clinic in Gabon with an order volume of €43 million. Order backlog increased to a new all-time high of €838 million (December 31, 2009: €679 million, +23%).

Fresenius Vamed fully confirms the outlook for 2010 and expects to achieve both sales and EBIT growth between 5 and 10%.

*Net income attributable to VAMED AG.

Analyst Meeting and Audio Webcast
As part of the publication of the results for the first quarter 2010, a conference call will be held on May 4, 2010 at 2.00 p.m. CEDT (8.00 a.m. EDT). All investors are cordially invited to follow the conference call in a live broadcast over the Internet at www.fresenius.com see Investor Relations / Presentations. Following the call, a recording of the conference will be available on our website.

Fresenius Medical Care's Chief Executive Officer, Dr. Ben Lipps, continues to see attractive growth opportunities, confirming the company's positive outlook for the 2010 financial year at the annual general meeting in Frankfurt today. Lipps: "The 2009 fiscal year was another very successful one for Fresenius Medical Care. Once again, we were able to demonstrate that Fresenius Medical Care's business model is robust and sustainable. We had a very good start into 2010. We are clearly on track to meet our targets for the full year and achieve another record year." For 2010, Fresenius Medical Care expects more than $12 billion in revenue and net income* between $950 million and $980 million.

Lipps also expects continued sustainable growth driven by an annual 5% to 6% increase in patients requiring dialysis treatment worldwide. Furthermore, Fresenius Medical Care will pursue strategic opportunities to consolidate its leading market positions. Key drivers of these opportunities include: increasing market share through a superior product portfolio, a strong commitment to quality, expanding the clinic network, a focus on integrated care and rolling out additional dialysis services.

Lipps also pointed out a significant increase in its number of employees. The addition of 3,322 people, an increase of 5.0% to a total of approximately 68,000 employees worldwide, was attributed primarily to strong organic growth of the dialysis care business in every region. Selected acquisitions also contributed to this growth. The number of employees is expected to rise again in 2010.

During the annual general meeting, the shareholders approved the 13th consecutive dividend increase with a large majority of 99.02%. The dividend will increase to €0.61 from €0.58 per ordinary share and to €0.63 from €0.60 per preference share.

With a further majority of 96.80%, shareholders also approved cancellation of the existing authorized capital along with the creation of new authorized capitals identical to those expiring in August 2010 and totaling up to €35 million and €25 million, respectively.

In addition, shareholders approved the actions taken and decisions made by the supervisory board and the management board with a majority of more than 99%.

At the annual general meeting, 74.36% of the subscribed capital was represented. Only ordinary-share holders were entitled to vote.

*Net income attributable to FMC AG & Co. KGaA

Fresenius SE shareholders today approved the conversion of all preference shares into ordinary shares along with a change of the company's legal form into a partnership limited by shares - Kommanditgesellschaft auf Aktien (KGaA). At the company's annual general meeting held today in Frankfurt am Main, a 98% majority of ordinary shareholders and a 94% majority of preference shareholders voted for the corresponding resolution from the company's management and supervisory boards. All non-voting Fresenius SE preference shares will mandatorily be converted into voting ordinary shares at a 1:1 exchange ratio. The legal form of the company will be changed into a KGaA. The general partner of the KGaA will be a European company, Fresenius Management SE, wholly owned by the Else Kröner-Fresenius Foundation. The general partner's management will be identical to Fresenius SE's current executive team and will assume the management of Fresenius SE & Co. KGaA. The change of legal form and the actual share conversion are expected in or after the second half of 2010.

Ulf Mark Schneider, CEO of Fresenius SE, said the share conversion in conjunction with the new legal form will support the continued successful development of the company: "The creation of a single share class will enhance the attractiveness of Fresenius stock and further strengthen our position in the capital markets. At the same time, the company will continue to benefit from the ongoing and full support of the Else Kröner-Fresenius Foundation as a reliable long-term shareholder. Our corporate strategy and focus on profitable growth will remain unchanged."

Based on the successful first quarter, Schneider also fully confirmed the company's outlook for the current year: Sales growth in constant currency is projected to be in the 7 to 9% range. Adjusted net income* is expected to increase by 8 to 10% in constant currency. The company expects net income to be at the upper end of the range of its full-year guidance.

During the annual general meeting, Fresenius shareholders approved the 17th consecutive dividend increase with a majority of over 99%. Ordinary shareholders will receive € 0.75 per share (2008: € 0.70) and preference shareholders will receive € 0.76 per share (2008: € 0.71). This is an increase of 7%. The total dividend distribution is € 121.8 million (2008: € 113.6 million).

Since the term of office of the current Fresenius SE supervisory board members ends upon the change of the legal form, the annual general meeting also had to appoint shareholder representatives to the supervisory board of Fresenius SE & Co. KGaA. Professor Michael Albrecht, Professor Roland Berger, Dr. Gerd Krick, Klaus-Peter Müller, Gerhard Roggemann and Dr. Gerhard Rupprecht were elected to the board, which will continue to consist of six shareholder and six employee representatives.

At the company's annual general meeting, 88% of the ordinary share capital and 62% of the preference share capital were represented. A shareholder majority of over 99% approved the actions of both the management and supervisory boards in 2009.

Net income attributable to Fresenius SE; adjusted for the effects of mark-to-market accounting of the mandatory exchangeable bonds (MEB) and the contingent value rights (CVR) related to the acquisition of APP Pharmaceuticals. Both are non-cash items.

Fresenius Medical Care AG & Co. KGaA ("the company"), the world's largest provider of dialysis products and services, today announced its signing of a sales and purchase agreement with Bumrungrad International Ltd. to acquire Asia Renal Care Ltd. The acquisition marks a significant expansion of the company's activities in the field of dialysis services in the Asia-Pacific region.

The transaction will be subject to antitrust notification in Taiwan and Singapore. If approved and closed, the acquired operations will add approximately $80 million in annual revenue and be accretive to earnings in the first year after closing of the transaction.

Founded in 1997, Asia Renal Care has since become the second largest provider of dialysis and related services in the Asia-Pacific region (behind Fresenius Medical Care). Asia Renal Care operates more than 100 clinics throughout Asia treating about 6,200 patients. In 2007 Asia Renal Care became a wholly owned subsidiary of Bumrungrad International Ltd., an associate company of Bumrungrad Hospital PCL.

The acquisition of Asia Renal Care will strengthen Fresenius Medical Care's leading market position in the Asia-Pacific region, where more than 680,000 patients require regular and life-sustaining dialysis treatment. The Asian markets are set to experience strong growth in the next few years. The number of dialysis patients is forecast to grow to over 1 million within the next five years.

"We are very pleased to further strengthen our activities and presence in dialysis services across most of the key Asian countries. Through this strategic and significant acquisition, we add to our existing leading position a large business managed by excellent professionals and very valuable partners in every single market," said Roberto Fusté, Member of the Management Board and Chief Executive Officer for Asia-Pacific.

Fresenius Medical Care AG & Co. KGaA ("the company"; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world's largest provider of dialysis products and services, is expanding its dialysis services business in the Russian Federation. The company announced today that it has signed an agreement to acquire KNC (KRAEVOY NEFROLOGICHESKIY CENTR), a private operator of dialysis clinics in Russia's Krasnodar region. The acquired operations will add approximately $25 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.

By acquiring KNC, Fresenius Medical Care intends to strengthen its position in the Russian Federation's growing dialysis services market, where today more than 20,000 patients require a regular and life-sustaining renal replacement therapy. Fresenius Medical Care currently operates five dialysis clinics treating around 570 patients and is the leading provider of dialysis products in Russia. KNC currently treats around 1,000 patients in five dialysis clinics located in Krasnodar, a region situated approximately 1,200 kilometers south of Moscow, on the Black Sea. KNC is the only provider of dialysis services in Krasnodar, which at an estimated patient growth of more than 10% per year is one of the regions with the highest demand for dialysis services in the Russian Federation.

In order to meet this rising demand, Fresenius Medical Care plans to expand the capacity of the acquired clinics directly upon closing of the acquisition. "We are very pleased that we soon will be able to provide both high-quality dialysis products and services to Krasnodar's patients," said Dr. Emanuele Gatti, chief executive officer for Europe, Latin America, the Middle East and Africa as well as global chief strategist of Fresenius Medical Care. "While we seek to enhance our presence in Russia on a long-term basis, our first aim will be to accommodate the large number of patients in Krasnodar who until now have been unable to receive treatment due to a lack of capacities."

Fresenius provides an incentive to inventors for what often is a long path from their initial flash of genius to ultimately achieving a marketable product. In this endeavor, the health care group aims to promote innovative developments within all medical sectors. For the event's 11th running, bright minds will be able to present their ingenuity during the Fresenius Inventors' Fair. The biennial event will be staged in conjunction with MEDICA 2010, the world's largest medical trade fair, held in Düsseldorf Nov. 17–20. The adjunct fair offers participating researchers, developers and inventors an international forum to attract the attention of potential business partners and investors for the marketing and advancement of their initial innovations up to market-ready products. The top three entries are chosen on the opening day of the MEDICA event by an independent jury comprised of medical specialists and business professionals. The Fresenius Inventors' Award carries cash prizes totaling €10,000. Above all, recognition is based on the criteria of potential usefulness, innovativeness and feasibility of being implemented. Registration of entries for the competition is now open.

An engineer hailing from Karlsruhe, Dr. Nicole Kikillus was the winner of the 2008 Fresenius Inventors' Award. She developed a particularly reliable method of detecting atrial fibrillation in patients, even if no such fibrillation occurs during a medical checkup. This condition is the leading clinical type of cardiac arrhythmia and increases the risk of stroke. Kikillus' software analyzes a 30- to 60-minute single-channel electrocardiogram, yielding an early diagnosis of atrial fibrillation patients and enabling therapy to reduce the chances of stroke.

As of immediately, physicians, researchers, engineers and other practitioners from the hospital field and medical care profession can submit their entries for consideration. Fresenius will provide winning entries display space and an exhibit booth at the fair free of charge. Selected from among numerous professionals from all medical fields who entered the previous competition, 20 such exhibitors presented their innovations at the 2008 Fresenius Inventors' Fair.

The deadline for competition entries is Oct. 1, 2010. Further details about the Fresenius Inventors' Fair can be found at www.fresenius.com/inventorsfair; and about the MEDICA event at www.medica-tradefair.com. Contact: Fresenius SE; Keyword: "Inventors' Fair", 61346 Bad Homburg, Telefax: +49 61 72 - 6 08 22 94, E-mail: daniela.hegemann@fresenius.com.

Fresenius Medical Care AG & Co. KGaA ("the company"; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world's largest provider of dialysis products and services, has entered into a long-term, 10-year exclusive distribution agreement with Japanese-based Nikkiso Co. Ltd. for hemodialysis and peritoneal dialysis products in Japan. With this agreement, both companies aim to further expand their market share of dialysis products, particularly dialyzers and peritoneal dialysis products, in Japan by utilizing Fresenius Medical Care's efficient manufacturing technologies while relying on Nikkiso's strong domestic distribution network.
In addition, the company intends to expand its leadership in the Republic of Korea's dialysis product market by acquiring Nikkiso Medical Korea Co. Ltd., a wholly owned subsidiary of Nikkiso Co. Ltd.
The acquired operations will add approximately $15 million in annual revenue and are expected to be accretive to earnings in the first year after closing of the transaction.
"The strategic alliance with Nikkiso will generate significant value to both parties in Japan and Korea, as each company is concentrating on its strengths in these markets," said Roberto Fusté, Fresenius Medical Care's chief executive officer for the Asia-Pacific region. Background information on the dialysis market in Japan With approximately 300,000 dialysis patients, Japan is the biggest dialysis market in the Asia-Pacific region. The patient growth rate is around 2%-3% p.a. In Japan, Fresenius Medical Care is active in the dialysis product business by means of its own sales and marketing channels as well as through distribution partners. The company also provides consulting services for dialysis clinics. However, it does not directly operate dialysis clinics in Japan due to legal restrictions.
Background information on the dialysis market in Korea The Republic of Korea is a fast-growing market with a patient growth rate of 6%-7%. The number of patients requiring regular dialysis therapy is approximately 50,000. Fresenius Medical Care is the leading company in the Republic of Korea's dialysis product market and, through its partnership with the Yeolin-Medical Foundation, is currently treating more than 850 patients in 16 dialysis clinics.