07.20.23
Rank: #21 (Last year: #18)
€5.42 Billion ($5.79 Billion)
Prior Fiscal: €5.84 Billion
Percentage Change: -7.2%
R&D Expenditure: €852M
No. of Employees: 316,920 (total)
Global Headquarters: Bad Homburg, Germany
KEY EXECUTIVES:
Michael Sen, Chairman of the Management Board, CEO, Fresenius
Sara Hennicken, CFO, Fresenius
Pierluigi Antonelli, CEO, Fresenius Kabi
Francesco De Meo, CEO, Fresenius Helios
Helen Giza, CEO, Fresenius Medical Care
Ernst Wastler, CEO, Fresenius Vamed
Shuffling C-suite executives in the Top 30 is nothing new, but Fresenius moved around quite a few of its top leaders in its fiscal year 2022.
In May, the company revealed former BSH Hausgeräte GmbH leader Dr. Carla Kriwet would succeed 10-year Fresenius Medical Care (FMC) leader Rice Powell on Jan. 1 as CEO due to Powell reaching the age limit (66) for management board members. Dr. Kriwet also had a seven-year stint with fellow Top 30 denizen Philips in various management roles.
However, in December, FMC announced that Helen Giza was instead appointed CEO because Dr. Kriwet would leave the company at her own request and by “mutual agreement due to strategic differences.” Giza had been FMC’s CFO since 2019, and took on the roles of deputy CEO and chief transformation officer in 2022. Prior to that, she was chief integration and divestiture management officer at Takeda Pharmaceuticals since 2018.
Moving back to May, investment banking veteran and Fresenius Senior VP Global Treasury & Corporate Finance Sara Hennicken was named CFO, effective Sept. 1 of last year. She succeeded Rachel Empey, who had been Fresenius CFO since August 2017 and left the company at her own request.
Finally, in August, Fresenius named Fresenius Kabi leader Michael Sen as CEO of the company and he took the reins on Oct. 1, 2022. He replaced Stephan Sturm, who had been CEO of Fresenius since 2016 and had worked for the company since 2005, beginning as CFO.
“Fresenius has always been more than just a job to me,” Sturm said in a press release detailing the CEO change. “This company was and is still close to my heart. I look back with gratitude and pride on my more than 17 years here, during which we accomplished a lot together and developed Fresenius into a leading global healthcare company.”
“I’m very pleased about the trust being placed in me and in my capabilities,” added Sen. “I am taking on leading this company, which brings both great responsibility and excitement, with respect but above all with great joy and confidence.”
Fresenius’ medical device revenue is made up of FMC’s Health care products segment and Kabi’s MedTech products business. Together, the businesses accrued €5.41 billion ($5.79 billion) of revenue last year, dropping 12.4% from its previous fiscal year. FMC raked in €1.44 billion in sales from MedTech products, rising 6% over the prior year. The company’s annual report cites higher sales of in-center disposables as the main driver, which were offset by reduced sales of machines for chronic treatment.
The segment achieved FDA 510(k) clearance for its VersiPD portable, automated peritoneal (PD) system in April. It lets PD patients have restful sleep thanks to almost silent operation, fewer disruptive alarms, and night mode. The cycler features more personalized programming as well as a large touchscreen, and embedded videos with audio guidance assists users through setup and treatment. VersiPD’s cycler battery and custom cart further facilitate mobility around the home, as well.
Fresenius Kabi earned €1.44 billion from MedTech products in fiscal year 2022.
Kabi began proceedings to acquire infusion therapy systems maker Ivenix last March, and finished the transaction in May. The company added a large volume pump with administration sets, infusion management software tools, applications, and analytics to Kabi’s arsenal. The Ivenix Infusion System is engineered to minimize infusion-related errors and slash total cost of ownership. The system earned FDA approval and was launched in late 2021.
Also in March, Fresenius Kabi earned FDA 510(k) clearance for its wireless Agilia volumetric pump and Agilia syringe pump with Vigilant Software Suite-Vigilant Master Med technology. The products allow centralized distribution of drug libraries, infusion data warehousing for reporting and analysis, and wireless device maintenance and calibration. Both pumps are the first to be cleared by following AAMI’s TIR101 standards, according to the company.
October saw Kabi’s release of the Gadoterate Meglumine injection USP, a bioequivalent and therapeutic equivalent substitute for the Dotarem contrast agent. According to the company, contrast agents are a new category of healthcare products for Kabi.
€5.42 Billion ($5.79 Billion)
Prior Fiscal: €5.84 Billion
Percentage Change: -7.2%
R&D Expenditure: €852M
No. of Employees: 316,920 (total)
Global Headquarters: Bad Homburg, Germany
KEY EXECUTIVES:
Michael Sen, Chairman of the Management Board, CEO, Fresenius
Sara Hennicken, CFO, Fresenius
Pierluigi Antonelli, CEO, Fresenius Kabi
Francesco De Meo, CEO, Fresenius Helios
Helen Giza, CEO, Fresenius Medical Care
Ernst Wastler, CEO, Fresenius Vamed
Shuffling C-suite executives in the Top 30 is nothing new, but Fresenius moved around quite a few of its top leaders in its fiscal year 2022.
In May, the company revealed former BSH Hausgeräte GmbH leader Dr. Carla Kriwet would succeed 10-year Fresenius Medical Care (FMC) leader Rice Powell on Jan. 1 as CEO due to Powell reaching the age limit (66) for management board members. Dr. Kriwet also had a seven-year stint with fellow Top 30 denizen Philips in various management roles.
However, in December, FMC announced that Helen Giza was instead appointed CEO because Dr. Kriwet would leave the company at her own request and by “mutual agreement due to strategic differences.” Giza had been FMC’s CFO since 2019, and took on the roles of deputy CEO and chief transformation officer in 2022. Prior to that, she was chief integration and divestiture management officer at Takeda Pharmaceuticals since 2018.
Moving back to May, investment banking veteran and Fresenius Senior VP Global Treasury & Corporate Finance Sara Hennicken was named CFO, effective Sept. 1 of last year. She succeeded Rachel Empey, who had been Fresenius CFO since August 2017 and left the company at her own request.
Finally, in August, Fresenius named Fresenius Kabi leader Michael Sen as CEO of the company and he took the reins on Oct. 1, 2022. He replaced Stephan Sturm, who had been CEO of Fresenius since 2016 and had worked for the company since 2005, beginning as CFO.
“Fresenius has always been more than just a job to me,” Sturm said in a press release detailing the CEO change. “This company was and is still close to my heart. I look back with gratitude and pride on my more than 17 years here, during which we accomplished a lot together and developed Fresenius into a leading global healthcare company.”
“I’m very pleased about the trust being placed in me and in my capabilities,” added Sen. “I am taking on leading this company, which brings both great responsibility and excitement, with respect but above all with great joy and confidence.”
Fresenius’ medical device revenue is made up of FMC’s Health care products segment and Kabi’s MedTech products business. Together, the businesses accrued €5.41 billion ($5.79 billion) of revenue last year, dropping 12.4% from its previous fiscal year. FMC raked in €1.44 billion in sales from MedTech products, rising 6% over the prior year. The company’s annual report cites higher sales of in-center disposables as the main driver, which were offset by reduced sales of machines for chronic treatment.
The segment achieved FDA 510(k) clearance for its VersiPD portable, automated peritoneal (PD) system in April. It lets PD patients have restful sleep thanks to almost silent operation, fewer disruptive alarms, and night mode. The cycler features more personalized programming as well as a large touchscreen, and embedded videos with audio guidance assists users through setup and treatment. VersiPD’s cycler battery and custom cart further facilitate mobility around the home, as well.
Fresenius Kabi earned €1.44 billion from MedTech products in fiscal year 2022.
Kabi began proceedings to acquire infusion therapy systems maker Ivenix last March, and finished the transaction in May. The company added a large volume pump with administration sets, infusion management software tools, applications, and analytics to Kabi’s arsenal. The Ivenix Infusion System is engineered to minimize infusion-related errors and slash total cost of ownership. The system earned FDA approval and was launched in late 2021.
Also in March, Fresenius Kabi earned FDA 510(k) clearance for its wireless Agilia volumetric pump and Agilia syringe pump with Vigilant Software Suite-Vigilant Master Med technology. The products allow centralized distribution of drug libraries, infusion data warehousing for reporting and analysis, and wireless device maintenance and calibration. Both pumps are the first to be cleared by following AAMI’s TIR101 standards, according to the company.
October saw Kabi’s release of the Gadoterate Meglumine injection USP, a bioequivalent and therapeutic equivalent substitute for the Dotarem contrast agent. According to the company, contrast agents are a new category of healthcare products for Kabi.