Fresenius Medical Care hires replacement for longtime CEO

Carla Kriwet will become CEO of Fresenius Medical Care [Photo courtesy of Fresenius]

Fresenius Medical Care (NYSE: FMS) has hired Carla Kriwet as its next CEO effective Jan. 1, 2023.

Kriwet will replace Rice Powell, who will step down on Dec. 31 after hitting the company’s age limit. Powell is 66. Kriwet is 51.

“I fully identify with the vision of making the lives of the patients who have put their trust in us a little more worth living every day,” Kriwet said in a news release yesterday. “And I’m convinced that bringing ever better medicine to ever more people goes hand in hand with economic success.”

Fresenius CFO and CTO Helen Giza will assume the position of deputy CEO and enter into a new 5-year employment contract, the company said.

Kriwet served as CEO and president of BSH Hausgeräte (Home Appliances) GmbH from July 2020 until she stepped down for her ne…

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FDA clears Fresenius’ next-gen portable automated peritoneal dialysis system

[Image from Fresenius]Fresenius Medical Care announced today it received FDA 510(k) clearance for its next-generation Versi PD cycler system.

The company designed the portable automated peritoneal dialysis (APD) system (from Fresenius Medical Care North America) as a light, simple, quiet, portable and advanced platform for improving health equity by making home therapy a more feasible option for a broader population of dialysis patients.

According to a news release, FDA clearance makes the Versi PD cycler system the lightest, smallest and quietest dialysis cycler in the U.S.

The company developed VersiPD to allow patients to enjoy restful sleep through its near-silent operation, with fewer disruptive alarms and a night mode option. The cycler also has the capability of more personalized prescription programming to meet the individual needs of a wide range of patients.

VersiPD includes a touchscreen and embedded videos with audio guidance to assist pa…

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Fresenius enters 3-way merger to create independent kidney care provider

Fresenius Medical Care announced today that it entered into an agreement to create a new company for providing kidney care.

The agreement combines Fresenius Medical Care North America’s value-based care division, Fresenius Health Partners, with InterWell Health and Cricket Health.

Both InterWell and Cricket represent U.S.-based kidney care providers, with Interwell a leading physician organization within the space and Cricket offering value-based kidney care with a patient engagement and data platform, according to a news release.

The merger combines Fresenius Health Partners’ kidney care expertise with InterWell’s clinical care models and network of 1,600 nephrologists and Cricket’s tech-enabled care model that uses its proprietary StageSmart informatics and patient engagement platforms.

Valued at $2.4 billion, the new company — which will be fully consolidated by Fresenius Medical Care as the majority owner — will operate…

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Fresenius Medical Care earns ‘B’ rating for climate protection measures

Fresenius Medical Care announced today that it received a positive rating for its efforts in climate protection.

According to a news release, the company garnered a “B” rating from the nonprofit organization CDP, marking its place in the second-highest categories.

Fresenius said it received a “B” in the climate area and a “B-” in the water area. The company said the rating solidifies its place as one of the leading companies in the healthcare sector with regard to climate protection measures.

Companies listed in “A” and “B” categories are characterized by transparency, coordinated climate protection measures and the implementation of corresponding best-practice approaches.

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Fresenius Medical Care earns ‘B’ rating for climate protection measures

Fresenius Medical Care announced today that it received a positive rating for its efforts in climate protection.

According to a news release, the company garnered a “B” rating from the nonprofit organization CDP, marking its place in the second-highest categories.

Fresenius said it received a “B” in the climate area and a “B-” in the water area. The company said the rating solidifies its place as one of the leading companies in the healthcare sector with regard to climate protection measures.

Companies listed in “A” and “B” categories are characterized by transparency, coordinated climate protection measures and the implementation of corresponding best-practice approaches.

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Fresenius Medical Care investing $25M in Humacyte as it goes public in SPAC deal

Fresenius Medical Care announced today that it will invest $25 million in Humacyte in connection with the merger of Humacyte and a SPAC.

Humacyte, which develops implantable human acellular vessels for multiple vascular repair, reconstruction and replacement, entered into a merger with a special purpose acquisition company (SPAC), leading Fresenius to increase its position in the newly combined entity as the lead investor of a private investment in public equity (PIPE), according to a news release.

Fresenius acquired a stake in Humacyte in 2018 for $150 million and agreed on a strategic partnership and now its original stake will be exchanged for shares in the combined company, which will remain under the Humacyte name and will trade on the Nasdaq market under the “HUMA” ticker.

Among several applications, Humacyte develops its implantable vessels to be non-immunogenic and available “off the shelf” for uses such as vascular access…

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Fresenius to provide more home dialysis machines to DaVita

A NxStage home hemodialysis machine [Image courtesy of Fresenius Medical Care] Fresenius Medical Care North America (FMCNA) has expanded its agreement with DaVita Kidney Care to provide NxStage home hemodialysis machines and related technology to DaVita’s U.S. patients.

“We are excited to expand our longstanding collaboration with DaVita to help more patients benefit from the portability, dependability, and flexibility of our NxStage home machines, which are designed to be easy to use,” Joe Turk, president of Home and Critical Care Therapies for FMCNA, said in a news release out today.

Under the agreement, DaVita patients will also access Nx2me Connected Health, a connected health platform that simplifies collection and sharing of treatment information with the dialysis clinic and care team. Nx2me Connected Health accesses treatment information directly from home hemodialysis machines.

Keith Hartman, group vice president for DaVita home modalities, sa…

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CMS delays shift to new payment model for chronic kidney disease treatments

CMS will now wait until Jan. 1, 2022 to start its Kidney Care Choices model, meant to shift the way the U.S. treats chronic kidney disease.

The new payment model was supposed to start on Jan. 1 of this year, but health providers are still grappling with the COVID-19 pandemic.

The new model could have a major effect on dialysis treatment providers including DaVita Healthcare (NYSE:DVA) and Fresenius Medical Care (NYSE:FMS; ETR:FRE). Baxter (NYSE:BAX) meanwhile announced in 2019 that it was investing in technologies to support the effort.

The new model’s roots go back to former President Donald Trump’s 2019 executive order to emphasize transplants and home hemodialysis over in-clinic treatment. End-stage renal disease is one of the few conditions in the United States where there is already a single-payer system, thanks to a law signed by President Richard Nixon in 1972.

The Kidney Care Choices (KCC) model would provide strong financial i…

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Fresenius Medical Care expands transitional care in the U.S.

Fresenius Medical Care said it is expanding its transitional care units in the U.S. this year.

The company plans to open more than 100 new TCUs in 2020 to help people recently diagnosed with kidney failure to learn about the treatment options available, including home dialysis.

TCUs are designed as a separate space within a dialysis center with staff that are dedicated to onboarding patients that are new to dialysis in their first weeks of treatment. The staff are also there to assist patients transitioning between modalities while supporting individuals who are returning to dialysis from transplant.

Fresenius said it has been rapidly opening TCUs across the U.S. and has 65 open already. The company said over 50% of TCU patients will choose the home dialysis modality.

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