Fresenius
| Company type | SE & Co. KGaA |
|---|---|
| Industry | Healthcare, Medical Technology, Pharmaceuticals |
| Founded | 1912 |
| Headquarters | Bad Homburg vor der Höhe, Germany |
Key people |
|
| Revenue | €21.5 billion (2024)[1] |
Number of employees | 176,486 (Dec 31, 2024) |
| Website | www.fresenius.com |
Fresenius SE & Co. KGaA is a German medical technology and healthcare group headquartered in Bad Homburg vor der Höhe, Hesse. The company is one of the largest private hospital operators in Germany and is also active in the pharmaceutical and healthcare services sector. Fresenius holds a 32% stake in dialysis specialist Fresenius Medical Care. Since March 23, 2009, the company has been listed in the DAX index of the Frankfurt Stock Exchange.[2] Effective July 13, 2007, the company changed its legal form from a joint-stock company (AG) under German law to a European company (SE).[3] On January 28, 2011, it was converted into a partnership limited by shares (KGaA).
History
The "Hirsch Pharmacy," founded in Frankfurt am Main in 1462, came into the Fresenius family in the 18th century. Pharmacist Eduard Fresenius, owner of the pharmacy, founded the pharmaceutical company "Dr. E. Fresenius" in 1912. Production focused on specialties such as injection solutions, serological reagents, and Bormelin nasal ointment. The production unit was separated from the pharmacy in 1933/34 and relocated to Bad Homburg. In the following years, it employed around 400 people. Eduard Fresenius's sudden death in 1946 endangered the continued existence of both the pharmacy and production facility. At that time, only 30 employees remained. Else Kröner, then known as Else Fernau, took over the business with her husband Hans Kröner in 1951 after completing her pharmacy studies and expanded the product line of infusion solutions. In 1966, Fresenius began distributing dialysis machines and dialyzers from various foreign manufacturers and gained significant market share in this segment.
In 1971, Fresenius made a contribution to parenteral nutrition therapy by introducing an amino acid solution based on a potato-egg model. In 1974, production of infusion solutions and medical plastic products began in St. Wendel, Saarland. Today, Fresenius manufactures advanced polysulfone dialyzers there. In Schweinfurt, the production of an in-house dialysis machine (A2008) began in 1979.
In 1982,[4] Fresenius became a joint-stock company and went public in 1986. In 1983, it started producing synthetic polysulfone fiber membranes for dialysis, which still define quality standards today. In 1996, through the acquisition of the U.S.-based National Medical Care, Fresenius founded its subsidiary Fresenius Medical Care AG (later AG & Co. KGaA, and since July 2023 again AG), a provider of dialysis products and services.
In 1997, the corporate plant for infusion solutions began operations in Friedberg, Hesse. A year later, Fresenius acquired the international infusion business of Pharmacia & Upjohn. By merging this with its pharmaceutical division, Fresenius Kabi was formed, becoming one of the leading companies in nutrition and infusion therapy. That same year, Fresenius moved into its new headquarters in Bad Homburg.
In 2001, Fresenius acquired Wittgensteiner Kliniken AG, with around 30 acute and specialty clinics and 4,600 employees. In 2005, it acquired Helios Kliniken for €1.5 billion.
With the acquisition of U.S.-based RenalCare Group in 2006, Fresenius strengthened its leading position in the dialysis sector. By 2018, over 333,000 patients were treated in more than 3,900 dialysis clinics worldwide.[5]
In 2008, Fresenius entered the North American pharmaceutical market by acquiring APP Pharmaceuticals, becoming a global leader in intravenously administered generics.
After an extraordinary general meeting approved the change, Fresenius AG converted to a European company on July 13, 2007, becoming Fresenius SE. On January 28, 2011, the company transitioned to a partnership limited by shares (KGaA), combined with a conversion of preference shares into common shares.
In 2012, Fresenius attempted to acquire hospital group Rhön-Klinikum and merge it with Helios to form a single corporation, but the plan failed.[6]
On September 13, 2013, the company announced a contract with Rhön-Klinikum AG to acquire 43 hospitals and 15 medical care centers.[7]
The acquired facilities were transferred to Helios Kliniken, a subsidiary of Fresenius, making it the largest private hospital operator in Europe with over 100 hospitals in Germany. The total purchase price was €3.07 billion. The acquisition was completed on February 28, 2014.
In 2017, the company acquired the Spanish hospital group Quirónsalud for €5.8 billion. This was the largest acquisition in the company's history and significantly expanded Fresenius’s presence in Spain and Latin America.
In July 2019, Stephan Sturm, CEO of Fresenius SE, announced that Fresenius would continue focusing on the healthcare business and saw growth opportunities especially in emerging markets. Fresenius aimed to streamline its portfolio and concentrate on its core areas: dialysis, hospital operations, infusion therapy, and medical technology.
In February 2023, the management of Fresenius SE & Co. KGaA presented a strategic plan to simplify the group structure and focus more on the operating businesses. In this context, the dialysis subsidiary Fresenius Medical Care was to be deconsolidated financially.[8]
In July 2023, Fresenius Medical Care AG & Co. KGaA changed its legal form to Fresenius Medical Care AG, so it is no longer a KGaA but a stock corporation (AG). However, it remains listed on the DAX index.[9]
Subsidiaries
Fresenius SE & Co. KGaA includes the following core operating companies:
- Fresenius Medical Care – the world's largest provider of dialysis products and services, active in over 120 countries.
- Fresenius Kabi – specializes in infusion therapies, clinical nutrition, and generic intravenous drugs.
- Fresenius Helios – Europe’s largest private hospital operator with over 100 hospitals in Germany and Spain.
- Fresenius Vamed – provides project development and management services for healthcare facilities.
Financial Figures
Key Figures
| Year | Revenue (€ billion) | Net Income (€ million) | Employees (year-end) |
|---|---|---|---|
| 2020 | 36.3 | 1,796 | 311,269 |
| 2021 | 37.5 | 1,867 | 316,078 |
| 2022 | 40.8 | 1,501 | 316,245 |
| 2023 | 22.3 | 1,225 | 186,685 |
| 2024 | 21.5 | 1,075 | 176,486 |
The Else Kröner-Fresenius-Stiftung (Else Kröner-Fresenius Foundation), with a 26.6% stake in the voting shares, is the largest single shareholder in the company. The rest of the shares are in free float and traded on the Frankfurt Stock Exchange.
Legal Form
Fresenius SE & Co. KGaA is a partnership limited by shares under German law (Kommanditgesellschaft auf Aktien – KGaA), combined with a European Company (Societas Europaea – SE) as the personally liable general partner. This structure is intended to provide strategic control while ensuring access to capital markets.
Criticism
Fresenius has faced criticism in the past regarding working conditions in its hospitals and dialysis centers. Labor unions have repeatedly called for better staffing ratios and working conditions. In the U.S., the company has faced lawsuits related to the use of certain dialysis products.[10]
See also
- Healthcare in Germany
- DAX
- Private hospital operators in Europe
References
- ↑ Annual Report 2024 (Report). Fresenius SE & Co. KGaA. 2025.
- ↑ Hannover Re and Fresenius in the DAX. Financial Times Deutschland, March 5archivedfrom on November 6, 2012 ; accessed March 23, 2013.
- ↑ Fresenius completes conversion to SE. Fresenius AG,July 16archivedfrom the original on June 22, 2016 ; accessed June 22 , 2016 .
- ↑ Company history Fresenius, retrieved May 6, 2018.
- ↑ Annual Report 2018. (PDF) Fresenius, archived from the original on May 27, 2019 ; accessed on August 24, 2019 .
- ↑ ROUNDUP: Rhön executives resign – opportunity for reorientation, focus.de
- ↑ Fresenius becomes a hospital giant. Süddeutsche Zeitung, September 13, 2013, accessed September 13, 2013.
- ↑ Globus, Storck, Fresenius: These German companies are still doing business in Russia. In: merkur.de. October 26, 2022, accessed January 29, 2023.
- ↑ Fresenius is growing strongly – but the Vamed separation leads to losses. Handelsblatt, July 31, 2024, accessed March 19, 2025
- ↑ Over 1,000 Companies Have Curtailed Operations in Russia—But Some Remain | Yale School of Management. Retrieved March 6, 2023.
