Fresenius Medical Care beats Street in Q2, cuts 2022 outlook

Fresenius Medical Care (NYSE:FMS) shares rose today on second-quarter results that topped the consensus forecast.

The Bad Homburg v. d. Höhe, Germany-based dialysis company posted profits of $150.3 million (€147 million), or 51¢ (€0.50) per share, on sales of $4.9 (€4.75 billion) billion for the three months ended June 30, 2022, for a 32.9% bottom-line slide on sales growth of 10.1%.

Adjusted to exclude one-time items, earnings per share were 78¢ (€0.77), 34¢ ahead of Wall Street, where analysts were looking for sales of $4.7 billion.

Headwinds from labor issues and inflation harmed the company’s results, according to a news release, with “meaningfully higher than assumed wage inflation, surcharges, retention payments and additional costs for contract labor to contain the increasing staff shortages.”

The company said that, despite additional investments in labor, staff shortages and turnover rates remain on the rise, affecting se…

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The biggest medtech personnel moves so far in 2022

In the ever-changing world of medtech, those who are leading the companies are bound to move around a bit.

At the end of last year, we compiled a list of medtech’s biggest personnel changes in 2021. Throughout just over half of 2022, we’ve already seen a slew of major moves around some of the space’s most powerful players.

Here is a list of some of the biggest personnel changes in medtech so far in 2022:

3M’s healthcare president retires 3M Health Care Business Group President Mojdeh Poul [Image courtesy of 3M]Mojdeh Poul, the president of 3M’s healthcare business, announced in May that she would retire from the position and her retirement was made effective on July 1.

Poul joined 3M in 2011 as the global business VP of critical and chronic care solutions. She later became VP and general manager of the company’s food safety business and president of numerous 3M divisions, including infection prevention, 3M Canada, and sa…

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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 Kabi to acquire Ivenix and its smart infusion system for $240M upfront

Fresenius Kabi announced today that it will acquire Ivenix with plans to bring a comprehensive infusion product portfolio to the U.S.

The acquisition, which has a purchase price of $240 million upfront, also includes potential milestone payments linked to achievements of commercial and operating targets.

Get the full story at our sister site, Drug Delivery Business News.

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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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Siemens Healthineers executive to join Fresenius supervisory board

Dr. Christoph Zindel, Siemens Healthineers [Image courtesy of Siemens Healthineers]Fresenius SE & Co. KGaA announced today that it plans for Siemens Healthineers executive Dr. Christoph Zindel to join its Supervisory Board.

Zindel will stand for election at Fresenius’ Annual General Meeting on May 13.

A member of Siemens Healthineer’s managing board, Zindel’s responsibilities at the German medtech giant include imaging, advanced therapies, technology excellence, quality and regulatory, the Healthineers Performance System, and sustainability.

Zindel will replace Klaus-Peter Müller, 77, who has been on the Supervisory Board and its Audit Committee since 2008.

 

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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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Women researchers receive a fraction of funding from the world’s biggest medtech companies

The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians.

Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments data.

Among the 20 medical device companies that fund research by U.S. physicians are 3M, Abbott, BD, Boston Scientific, Johnson & Johnson (dba J&J Surgical Vision and J&J Vision Care), Medtronic (dba Medtronic, Medtronic Minimed, Medtronic USA, Medtronic Vascular), Royal Philips (dba Philips Electronics), Stryker and Zimmer Biomet.

Together, those companies paid $3.9 million to 312 doctors in 2020, but only 21 were women, receiving a collective $402,600.

Women physicians, on average, received 15.7% of payments from each of the top medtech companies, but accounted f…

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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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