BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius (FSNUF.PK, FSNPF.PK), on Wednesday, unveiled plans to divest its Investment Company Vamed following the announcement of the sale of Vamed's rehabilitation business. The company has initiated a structured exit, with an Austrian consortium of construction companies Porr and Strabag acquiring Vamed's domestic operations for a total purchase price of €90 million.
The proposed transaction comprises Vamed's entities responsible for the technical management of the Vienna General Hospital (AKH Wien), the Austrian project business that is part of Vamed's Health Tech Engineering segment, and equity stakes in several spas across Austria. However, the completion of the transaction is subject to regulatory approvals and customary conditions.
After exiting Vamed, Fresenius will consist of the two Operating Companies Fresenius Kabi and Fresenius Helios (each with 100% ownership share), and the Investment Company Fresenius Medical Care (32% ownership share).
Further, the company has raised its fiscal 2024 guidance due to the 'excellent first quarter.' The company now sees group organic revenue growth of 4%-7% and EBIT growth in constant currency of 6%-10%.
Michael Sen, CEO of Fresenius, said, 'Fresenius has had an excellent start into the year, showing that our focus on Fresenius Kabi and Fresenius Helios is increasingly paying off. We are confident that we can maintain our growth momentum and are raising our outlook for the full year accordingly. With the exit from Vamed, our strategic portfolio restructuring has been completed as planned.'
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