The chief executive of German health care group Fresenius is preparing a deconsolidation of Fresenius and its struggling subsidiary Fresenius Medical Care (FMC) , business magazine WirtschaftsWoche reported on Thursday, citing sources close to the supervisory board. Chief Executive Michael Sen's goal is for Fresenius to relinquish control over FMC and no longer have to fully consolidate the dialysis company, WirtschaftsWoche added. Shares in Fresenius rose 5% to a five-month high soon after the report was published while FMC shares slipped 2% initially.
Sen is negotiating the plan with the major shareholder
Else-Kroener-Fresenius-Stiftung, which controls Fresenius,
WirtschaftsWoche reported.
He plans to unveil the strategy on Feb. 22 alongside the
release of the company's financial results, the report said.
Fresenius did not immediately respond to a request for
comment.
U.S.-focused kidney dialysis specialist FMC's chief
executive stepped down in December, marking the second
leadership change in as many months.
Parent Fresenius has been pushing for a faster overhaul of
the struggling unit, which has suffered from ballooning costs
and a staff shortage.
(Additional reporting by Ludwig Bayer and Patricia Weiss
Writing by Paul Carrel and Friederike Heine
Editing by Madeline Chambers)
