How Does Fresenius Medical Care Company Work?

This segment establishes the company as a leading provider of kidney care services. It encompasses both in-center and home dialysis options, directly serving patients. As of March 31, 2025, Fresenius Medical Care treated 299,358 patients across 3,674 dialysis clinics globally.

Here, the company acts as a global leader in kidney replacement technology. It manufactures and distributes a wide array of dialysis equipment and disposable products. An example of innovation is the 5008X CAREsystem, which received FDA 510(k) clearance for high-volume hemodiafiltration therapy in the U.S. in June 2025.

Introduced in June 2025, this segment focuses on value- and risk-based care programs in the U.S. It utilizes data and analytics to offer integrated, long-term care for CKD and ESRD patients. The goal is to enhance patient outcomes by reducing hospital admissions and promoting home dialysis transitions.

Supporting these offerings are approximately 40 global production sites and a robust logistics and distribution network. The company emphasizes supply chain reliability, achieving an impressive 99.5% on-time order fulfillment.

The FME25 program has been instrumental in generating significant savings, with accumulated savings reaching EUR 567 million by the end of 2024. The target for 2025 has been further elevated to EUR 750 million, underscoring the program's ongoing impact on operating income, which saw an 18% growth in 2024.

A strategic turnaround plan includes portfolio optimization through divestitures of non-core assets, such as select operations in Malaysia and parts of Spectra Laboratories. While these moves are projected to slightly impact 2025 revenue growth, they aim to sharpen the company's focus on higher-margin business segments.

In June 2025, the company announced the broader U.S. commercialization of its updated 5008X CAREsystem, supporting high-volume hemodiafiltration (HVHDF) therapy. This initiative aims to establish a new standard of care in the U.S., mirroring practices prevalent in Europe, Latin America, and Asia.

The 'FME Reignite' strategy, launched in June 2025, focuses on revitalizing core operations, fostering growth and innovation, and cultivating a strong organizational culture. A key component is the establishment of Value-Based Care as a distinct operating segment, which generated EUR 1.8 billion in U.S. revenue in fiscal year 2024.

As of December 31, 2024, Fresenius Medical Care cared for over 299,000 patients across approximately 3,700 dialysis clinics worldwide, solidifying its position as the largest provider of dialysis products and services globally. In the U.S., the company holds a significant market share of about 37%, supported by its comprehensive range of dialysis machines, disposables, and both in-center and home dialysis services.

The company navigates potential risks including evolving healthcare regulations and the competitive landscape. Managing inflationary cost pressures and labor market dynamics remains a focus, with ongoing efforts to achieve cost efficiencies to offset wage increases.

The 'FME Reignite' strategy guides future growth, with an outlook for fiscal 2025 anticipating positive to low-single digit percent revenue growth. Operating income, excluding special items, is projected to increase by a high-teens to high-twenties percent rate.

A key aspiration is to achieve a mid-teens percent operating income margin by 2030. The company plans annual capital expenditures between EUR 0.8 billion and EUR 1.0 billion for its core business from 2025 to 2030 to foster growth and innovation.