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Fresenius Medical Care AG & Co. KGAA (FMS)

  • Thu, Apr. 30, 12:12 PM
    • Fresenius Medical Care (FMS -0.1%) Q1 results: Revenues: $3,960M (+11.1%); COGS: $2,776M (+11.8%); R&D Expense: $31M (+3.3%); SG&A: $655M (+5.6%); Operating Income: $504M (+13.3%); Net Income: $210M (+2.4%); EPS: $0.35 (+2.9%); CF Ops: $447M (+299.1%).
    • 2015 Guidance: Revenue growth: 5 - 7%; Net Income Growth: 0 - 5%; CAPEX: ~$1B.
    • 2016 Guidance: Revenue Growth: 9 - 12%; Net Income Growth: 15 - 20%.
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  • Thu, Apr. 30, 9:03 AM
    • Fresenius Medical Care (NYSE:FMS): Q1 EPS of $0.35 misses by $0.04.
    • Revenue of $3.96B (+11.2% Y/Y) beats by $70M.
    • Shares +1.07% PM.
    • Press Release
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  • Wed, Apr. 29, 5:30 PM
  • Wed, Feb. 25, 12:13 PM
    • Fresenius Medical Care (FMS +5.6%) Q4 results ($M): Net Revenue: 4,320 (+12%); Operating Income: 663 (+0%); Net Income: 335 (-4%); EPS: 1.11 (-5%); CF Ops: 588 (+0%).
    • 2015 Guidance: Revenue growth: 5 - 7%; Net Income Growth: 0 - 5%; CAPEX: ~$1B.
    • 2016 Guidance: Revenue Growth: 9 - 12%; Net Income Growth: 15 - 20%.
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  • Wed, Feb. 25, 9:20 AM
    • Fresenius Medical Care (NYSE:FMS): Q4 EPS of $1.11 beats by $0.62.
    • Revenue of $4.32B (+11.6% Y/Y) beats by $170M.
    • Press Release
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  • Tue, Feb. 24, 5:30 PM
  • Nov. 20, 2014, 7:11 AM
    • The Wall Street Journal reports that Fresenius (NYSE:FMS) and the Permira investment fund have made an offer for Danone's (OTCQX:DANOY) (OTCPK:GPDNF) medical nutrition business. The size of the bid is unknown, but according to analysts the business is worth between €3.5B - 4.5B ($4.38B - 5.64B).
    • The private equity fund CVC is reportedly mulling an offer as well.
    • The deadline for bids is next week.
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  • Nov. 13, 2014, 7:53 AM
    • Fresenius Medical Care (NYSE:FMS) acquires Cogent Healthcare, a U.S. provider of specialist physicians to hospitals, for an undisclosed sum. The takeover was executed by Sound Inpatient Physicians, in which Fresenius owns a majority stake. Cogent is forecasted to generate $250M in top line revenue in 2015.
    • The acquisition is consistent with FMS' plan to build a $5B care-coordination business by 2020 that will offer a wide range of care for the chronically ill. The company expects to double its group sales to $28B by then.
    • Medical insurers are moving to a system of lump sum payments for caring for dialysis patients rather than reimbursing for individual drugs and services. Insurers hope this system, called care coordination or disease management, will encourage healthcare providers to focus more intently on the prevention of medical complications and increase patients' compliance with treatment regimens.
    • FMS expects the Cogent deal to be accretive to group earnings with 18 -24 months. The transaction should close by year end.
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  • Nov. 4, 2014, 7:16 AM
    • Fresenius Medical Care (NYSE:FMS): FQ2 EPS of $0.89 misses by $0.02.
    • Revenue of $4.12B (+12.3% Y/Y) beats by $170M.
    • Press Release
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  • Oct. 24, 2014, 12:08 PM
    • Fresenius Medical Care (FMS +1.6%) places $500M aggregate principal amount of 4.125% senior unsecured notes due 2020 and $400M aggregate principal amount of 4.75% senior unsecured notes due 2024.
    • Proceeds will be used to repay short-term debt, for acquisitions and general corporate purposes.
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  • Oct. 22, 2014, 1:29 PM
    • Fresenius Medical Care (FMS -0.2%) acquires National Cardiovascular Partners (NCP) for an undisclosed sum. The company expects the acquisition to add more than $200M to the top line in 2015 and be accretive to earnings in the first year after closing.
    • NCP is a leading operator of endovascular, vascular and cardiovascular services in the outpatient setting. It partners with over 200 doctors in 21 outpatient vascular centers in six states.
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  • Jul. 31, 2014, 1:23 PM
    • Fresenius Medical Care (FMS +2.4%) Q2 results: Total Revenue: $3,835M (+6.1%), North America: $2,521M (+6.1%); International: $1,297M (+5.6%); Gross Profit: $1,211.4M (+4.6%); Operating Income: $556.3M (+2.2%); Net Income: $280.6M (-5.7%); EPS: $0.77 (-10.5%); CF Ops: $561.6M (-33.2%).
    • Number of treatments: 10,527,719 (+4.6%).
    • 2014 Guidance: Revenue: ~$15.2B; operating income: ~$2.2B; net income: $1.0B - 1.05B; CAPEX: ~$900M; CF Ops: >$1.5B.
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  • Jun. 27, 2014, 2:14 PM
    • Fresenius Medical Care (FMS +1.5%) enters into an agreement to invest ~$600M in Sound Inpatient Physicians, a hospital inpatient care delivery organization. Its stake will make it the majority shareholder in the recapitalization of Sound. Other major shareholders are TowerBrook Capital Partners and the group's senior management.
    • Sound Physicians encompasses more than 1,000 doctors providing care in over 100 hospitals and post-acute care centers across the U.S.
    • Fresenius CEO Ron Kuerbitz says, "This investment in Sound's inpatient expertise is a significant step forward in our care coordination strategy and augments our network of 2,150 dialysis clinics, 53 vascular care centers, renal pharmacy and full service and specialty laboratories to help us better address the full spectrum of our patients' health care needs."
    • 8-K
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  • May. 19, 2014, 10:22 AM
    • The U.S. Supreme Court declines to hear an appeal by Baxter International (BAX -0.1%) in a dialysis machine patent suit with Fresenius Medical Care (FMS -0.7%). The issue is whether a court can throw out a patent infringement judgement in a case where the patent office decides that a patent is invalid while the litigation is in process. The court's action means that the July 2013 ruling by the U.S. Court of Appeals remains intact whereby it threw out a $24M judgment in favor of Baxter.
    • Biotech and pharma industry groups urged the court to hear the case because the appeals court ruling creates uncertainty due to the encouragement of time-wasting dual-track litigation.
    • Fresenius originally challenged the Baxter patent in 2003. Baxter counter-sued and won a judgement in 2012 that required the former to pay for infringement. During the litigation, Fresenius asked the patent office to reconsider the validity of the patent which it did in 2010.
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  • May. 6, 2014, 2:32 PM
    • Fresenius Medical Care (FMS -2.7%) revenues: $3.6B (+2.9%); North America: $2.4B (+4.6%); International: $1.2B (-0.7%); net dialysis care: $2.8B (+3.7%); dialysis products: $781.4M (-0.5%); gross profit: $1.1B (-2.7%); operating income: $444.9M (-9.8%); net income: $247.4M (-4.9%); EPS: $0.68 (-6.8%); CF Ops: $112.3M (-64.4%).
    • Number of treatments: North America: 6.375M (+3.7%), International: 3.730M (+5.6%).
    • 2014 guidance: revenues: ~$15.2B; operating income: ~$2.2B; net income: $1B - 1.05B; CF Ops: >$1.5B.
    • 6-K
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  • Apr. 3, 2014, 11:59 AM
    • Citing a growing patient pool and an expansion of offerings into kidney failure-related medical fields, Fresenius Medical Care (FMS +2.6%) forecasts its top line to double to $28B by 2020.
    • The number of global dialysis patients should grow 6.3%/year, slightly lower than the 6.8% rate over the past 13 years.
    • The company believes it is well-positioned to take advantage of the transition from payments for individual services to lump-sum payments per dialysis session.
    • (DVA +0.3%)
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Company Description
Fresenius Medical Care AG & Co. KGaA is a kidney dialysis company, which is operating in both the field of dialysis products and dialysis services.