Fresenius SE’s First Quarter Meets Our Expectations as Akorn Deal Outcome Remains Wildcard
We don’t anticipate any change in our fair value estimate for Fresenius SE for the time being despite some adjustments to our model. While underlying performance during the quarter excluding negative currency effects mostly met our expectations, some uncertain events remain on the horizon, like marketability of HES blood volume products in Europe and more importantly the Akorn acquisition. We have little visibility into the validity of Fresenius’ claims of manufacturing and data integrity issues...Fresenius is a health care group providing products and services for dialysis, hospitals and outpatient medical care. Co. operates four business segments: Fresenius Medical Care; Fresenius Kabi; Fresenius Helios; and Fresenius Vamed. Fresenius Medical Care provides dialysis care and dialysis products for patients with chronic kidney failure. Fresenius Kabi is engaged in the provision of generic drugs, infusion therapies, clinical nutrition products, related medical devices and transfusion technology. Fresenius Vamed manages projects and provides services for hospitals and other health care facilities. Fresenius Helios is a private hospital operator which only operates in Germany.
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