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☆ Fresenius CEO: Taking momentum from reset year and keeping foot on the pedal
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFresenius CEO: Taking momentum from reset year and keeping foot on the pedalMichael Sen, CEO of Fresenius, lays out how the company has enacted the "reset" pledge he made on CNBC 12 months ago and was able to improve the company's outlook twice in the last year.

Persons: Michael Sen Organizations: CNBC

☆ What we know about Alabama execution of Kenneth Smith by nitrogen gas
▼ + stars: | 2024-01-26 | by ( Elizabeth Wolfe | Dakin Andone | ) edition.cnn.com time to read: +7 min

CNN —Alabama inmate Kenneth Smith was put to death Thursday night by nitrogen hypoxia, marking the nation’s first known execution to be carried out using that method. The execution process began at 7:53 p.m. CT Thursday, and Smith was pronounced dead at 8:25 p.m., according to Alabama Department of Corrections officials. Smith made a lengthy statement in front of the witnesses before the execution started, according to the pool reporters. A new method of capital punishmentAhead of Smith’s execution, a tense debate unfolded about whether America’s wholly new execution method is humane and whether the procedure would cause undue pain. The family has forgiven everyone involved in the killing, including Smith, Michael Sennett said at a news conference Thursday night.

Persons: Kenneth Smith, Smith, United Nations –, William C, John Hamm, gurney, “, writhed, Hamm, ” Hamm, Jeff Hood, who’d, ” Smith, gurney ”, Hood, ”, ’, Elizabeth Sennett's, Elizabeth Sennett, Sennett, Charles Sennett, Michael, ” Elizabeth Sennett’s, What’s, ” Chuck Sennett, “ He’s, Michael Sennett, CNN’s Devan Cole, Christina Maxouris, Isabel Rosales, Lauren Mascarenhas, Jamiel Lynch Organizations: CNN, United Nations, Holman Correctional, Alabama Department of Corrections, “ Locations: Alabama, Oklahoma, Mississippi, Atmore, Alta

☆ Fresenius perfectly positioned to combat health inequality, says CEO
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFresenius perfectly positioned to combat health inequality, says CEOMichael Sen, CEO at Fresenius, explains what the company is doing to help close the health care gap.

Persons: Michael Sen

Caesars paid around $15 million in ransom to regain access to its systems from the hackers, according to reporting by the Wall Street Journal. Some have been collecting evidence leading to the hackers' identities and are assisting law enforcement, according to the five insiders. The sources say that, following the September casino hacks, the FBI's investigation took on new urgency. Mandia didn't respond directly when asked whether Scattered Spider's identities were known to law enforcement. But he did say that there was no excuse for not arresting hackers who operated from the West.

Persons: Bridget Bennett, Michael Sentonas, Sentonas, Alphabet's, James Foster, Foster, cybercriminals, gona, Kevin Mandia, Mandiant, you've, Zeba Siddiqui, Raphael Satter, Christopher Bing, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, U.S . Federal Bureau of Investigation, FBI, MGM Resorts International, Caesars Entertainment, Industry, Reuters, Department of Justice, Caesars, Wall Street, Palo Alto Networks, Microsoft, ex, Telegram, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, America, Palo, American, Baltimore , Maryland, United States, Newark , New Jersey, sextortion, San Francisco, Washington

☆ Obesity revolution gorges on dialysis maker
▼ + stars: | 2023-10-11 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

REUTERS/Megan Jelinger Acquire Licensing RightsLONDON, Oct 11 (Reuters Breakingviews) - Kidney dialysis kit-makers look set to be the latest victim of the obesity drug boom. On Wednesday, shares in Germany-listed Fresenius Medical Care (FMEG.DE) fell 20% after a medical trial showed a Novo Nordisk (NOVOb.CO) drug can reduce the risk of kidney failure. Diabetes and obesity drugs are showing their fringe benefits. In a recent drug trial, Wegovy, an obesity remedy made by Denmark’s Novo Nordisk, reduced the incidence of serious cardiovascular events like strokes and heart attacks by 20% in overweight patients. The collapse in Fresenius Medical Care’s share price looks appropriate.

Persons: Dawn, Megan Jelinger, Michael Sen, Danish drugmaker, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Novo Nordisk, Denmark’s Novo Nordisk, Fresenius, Thomson Locations: Findlay , Ohio, U.S, Germany, Fresenius, Vamed, Danish

☆ Fresenius to assess whether state aid impacts bonus, dividend payouts
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

Companies Fresenius SE & Co KGaA FollowFRANKFURT, Sept 30 (Reuters) - German healthcare group Fresenius (FREG.DE) said it was examining whether the state aid it received to help offset high energy costs at its hospitals business would bar it from making management bonus and dividend payments. When asked whether the company would legally challenge any ban on payouts, he said that would have to be analysed. The company paid an unchanged annual dividend of 0.92 euros a share this year, or 518 million euros in total. The spokesperson said the assessment would inform a decision on whether state aid will be accepted during the second half. The Helios unit posted earnings before interest and tax of 622 million euros in the first half against 609 million a year earlier.

Persons: Michael Sen, Sen, Helios, Ludwig Burger, Jan Harvey Organizations: Frankfurter Allgemeine, Reuters, Helios, Thomson Locations: FRANKFURT

☆ Fresenius Medical's operating profit drops less than feared as labour shortages ease
▼ + stars: | 2023-05-09 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, May 9 (Reuters) - Fresenius Medical Care (FMEG.DE) said on Tuesday labour shortages were slowly easing as the German dialysis specialist reported a drop in its first-quarter adjusted operating income, although not as steep as feared by some analysts. The company said in a statement on Tuesday its adjusted operating income dropped to 354 million euros ($390 million), compared with the median analysts' estimate of 335 million in a consensus posted on the company's website. The dialysis group's parent Fresenius SE (FREG.DE) has said this year it would cede control over the struggling dialysis firm, but keep its stake for now as part of a turnaround plan. Fresenius Medical, which was hit hard by a high rate of COVID-19 deaths among its patients, said this burden was easing, though excess mortality for now continued to weigh on growth. Its parent company, German healthcare group Fresenius (FREG.DE), said on Tuesday its first-quarter operating earnings slipped a currency-adjusted 10%.

☆ Fresenius takes tentative step on road to breakup
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

On Tuesday evening the $17 billion German medical technology company said it will relinquish control of its listed dialysis firm, Fresenius Medical Care (FMEG.DE), in order to focus on its core businesses. Fresenius currently controls the dialysis business and can appoint its board despite only owning a 32% stake, thanks to its arcane German legal structure. The news sent Fresenius Medical Care stock up around 12% on Wednesday. His core intravenous drugs and hospital operating divisions should be worth 20 billion euros each, according to the UK bank. That implies a total value for the group including debt of 48 billion euros, far above its current 40 billion euro enterprise value.

Healthcare group Fresenius (FREG.DE) said late on Tuesday it would give up strategic control over FMC via a planned change of the division's legal form, also releasing annual results and an outlook that failed to impress investors. Fresenius CEO Michael Sen, a former E.ON (EONGn.DE) and Siemens (SIEGn.DE) executive who took over the helm in October, wants to simplify the company's structure but said he will hang onto the 32% stake Fresenius owns in FMC. This makes a sale more likely in the future, said Florian Oberhofer, portfolio manager at Union Investment, which holds 0.26% of Fresenius shares. Sen said Fresenius was banking on a business improvement at FMC and Vamed and on participating financially in this through its holdings in both. FMC and Fresenius shares lagReporting by Ludwig Burger and Patricia Weiss; Additional reporting by Christoph Steitz; Writing by Rachel More; Editing by Josephine Mason, Elaine Hardcastle and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's Fresenius to simplify structure, flags potential profit fall
▼ + stars: | 2023-02-21 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

[1/2] Samples of products of Fresenius and Fresenius Medical Care are on display during the company's annual news conference at their head quarters in Bad Homburg Germany, February 20, 2019. "The new structure will greatly benefit both companies: Fresenius Medical Care needs an operational turnaround, to improve its performance and focus on its core business." "Fresenius needs to simplify its complex corporate structures and commit to its Operating Companies and to maximizing value from its investments," Sen said. FMC is expected to hold an extraordinary general meeting in July to let shareholders vote on the proposed change of the legal form, Fresenius said. Frankfurt-listed shares of Fresenius and FMC were up 1% and 2.2%, respectively.

☆ Fresenius in talks about deconsolidation of FMC - WirtschaftsWoche
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 9 (Reuters) - The chief executive of German health care group Fresenius (FREG.DE) is preparing a deconsolidation of Fresenius and its struggling subsidiary Fresenius Medical Care (FMC) (FMEG.DE), business magazine WirtschaftsWoche reported on Thursday, citing sources close to the supervisory board. Chief Executive Michael Sen's goal is for Fresenius to relinquish control over FMC and no longer have to fully consolidate the dialysis company, WirtschaftsWoche added. Shares in Fresenius rose 5% to a five-month high soon after the report was published while FMC shares slipped 2% initially. Sen is negotiating the plan with the major shareholder Else-Kroener-Fresenius-Stiftung, which controls Fresenius, WirtschaftsWoche reported. U.S.-focused kidney dialysis specialist FMC's chief executive stepped down in December, marking the second leadership change in as many months.

☆ Germany's Fresenius may give up control of FMC dialysis business
▼ + stars: | 2023-02-09 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 9 (Reuters) - German healthcare group Fresenius SE (FREG.DE) said on Thursday it was potentially ready to cede control over Fresenius Medical Care (FMC) (FMEG.DE), after a fall in earnings at the world's largest dialysis company. Shares in FMC were down 3.4% at 1538 GMT, while Fresenius stock surged 4.3% after it said it was considering de-consolidating the subsidiary, meaning its sales would no longer be fully integrated into its financial reports. FMC, which has been hit hard by U.S. staff shortages and cost inflation this year, slashed its annual outlook twice last year, also pulling down Fresenius' forecasts. The Else Kroener-Fresenius-Stiftung, a charitable trust that controls Fresenius SE, "has taken note with approval of" the plans to deconsolidate FMC and to change its legal form. FMC Chief Executive Carla Kriwet, who was hired by Sen's predecessor, stepped down in December after just two months in the job, citing "strategic differences".

☆ Fresenius CEO signals realignment, confirms call with Elliott - FAZ newspaper
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Oct 25 (Reuters) - Newly appointed Fresenius CEO Michael Sen said that the company's debt-financed growth strategy cannot continue, in an interview in Frankfurter Allgemeine Zeitung's Wednesday edition. But this model is no longer viable," Sen said, laying out his realignment of the firm following his appointment on Oct. 1. Regarding Elliott Investment Management's stake in the company announced last week, Sen said: "We have already been in contact with Elliott." Fresenius management will include the opinion of investors regarding the future of the company in its considerations, he said, adding that no banks had been mandated for the sale of its hospital operator Helios. Reporting by Emma-Victoria Farr, editing byOur Standards: The Thomson Reuters Trust Principles.

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