- Change of legal form simplifies the corporate governance
structure as a German stock corporation (Aktiengesellschaft)
- The composition of the Management Board remains as before; the
new Supervisory Board assumes office with immediate effect
- Business model and strategic plan remain strong and continue to
translate into improved operating performance
BAD HOMBURG, Germany, Nov. 30,
2023 /PRNewswire/ -- Fresenius Medical Care, the
world's leading provider of products and services for individuals
with renal diseases, announces the successful completion of its
change of legal form from a partnership limited by shares
(Kommanditgesellschaft auf Aktien, KGaA) into a German stock
corporation (Aktiengesellschaft, AG) as of November 30, 2023. With this important milestone,
Fresenius Medical Care is opening a new chapter in the history of
the Company with a simplified corporate governance structure that
gives the Company more flexibility and autonomy. The role of
the free float shareholders is also strengthened.
With the successful completion, the new Supervisory Board takes
office, and comprises Shervin J.
Korangy, Dr Marcus Kuhnert, Gregory Sorensen, M.D., Pascale Witz, who were formally elected by the
Extraordinary General Meeting on July 14,
2023. As the largest shareholder with approx. 32.2 percent
of the ordinary share capital, Fresenius SE & Co. KGaA
(Fresenius) has appointed its CEO Michael
Sen and its CFO Sara
Hennicken as members of the new Supervisory Board – with
Michael Sen serving as Chair. In
addition to the six shareholder representatives, the new
Supervisory Board will also comprise six employee representatives.
Their first appointment is expected to be completed in the first
quarter of 2024. The committees of the Supervisory Board have been
established, while certain representatives will need to be
appointed by the end of the first quarter of 2024.
Michael Sen, Chair of the
Supervisory Board of Fresenius Medical Care AG, said: "The
deconsolidation is a historic landmark. Fresenius Medical Care
gains significantly more freedom and flexibility to ultimately
create value for its shareholders and patients. I look forward to
supporting the company actively together with my colleagues on the
new Supervisory Board."
Helen Giza, CEO of Fresenius
Medical Care AG, affirmed: "Fresenius Medical Care will benefit
from its new legal form as it simplifies the governance structure
and allows for faster and more agile decision making. I want
to extend my thanks and heartfelt gratitude to all involved in
supporting the deconsolidation process this year. Our business
model remains strong as we continue implementing our strategic plan
and turnaround measures. Our patient centricity is at the heart of
our mission and core of our brand, and our unwavering focus on
execution continues translating into improved operating
performance."
We expect that the trading of Fresenius Medical Care's shares
and ADS will continue under the new company name of Fresenius
Medical Care AG as of Friday, December 1,
2023.
About Fresenius Medical Care:
Fresenius Medical Care is the world's leading provider of products
and services for individuals with renal diseases of which around
3.9 million patients worldwide regularly undergo dialysis
treatment. Through its network of 4,014 dialysis clinics, Fresenius
Medical Care provides dialysis treatments for approximately 342,000
patients around the globe and is the leading provider of dialysis
products such as dialysis machines and dialyzers. Fresenius Medical
Care is listed on the Frankfurt Stock Exchange (FME) and on the New
York Stock Exchange (FMS).
For more information visit the Company's website
at www.freseniusmedicalcare.com.
Disclaimer:
This release contains forward-looking statements that are subject
to various risks and uncertainties. Actual results could differ
materially from those described in these forward-looking statements
due to various factors, including, but not limited to, changes in
business, economic and competitive conditions, legal changes,
regulatory approvals, impacts related to the COVID-19 pandemic
results of clinical studies, foreign exchange rate fluctuations,
uncertainties in litigation or investigative proceedings, and the
availability of financing. These and other risks and uncertainties
are detailed in Fresenius Medical Care's reports filed with the
U.S. Securities and Exchange Commission. Fresenius Medical Care
does not undertake any responsibility to update the forward-looking
statements in this release.
Media Contact
Sabine Blessing
T +1 800 723 2384
media@freseniusmedicalcare.com
Contact for analysts and investors
Dr. Dominik Heger
T +49 6172 609 2601
dominik.heger@fmc-ag.com
www.freseniusmedicalcare.com
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SOURCE Fresenius Medical Care Holdings, Inc.
