Fresenius

What Fresenius does

Fresenius SE & Co. KGaA is a German global healthcare group founded in 1912 and headquartered in Bad Homburg vor der Höhe, listed on the Frankfurt Stock Exchange and a DAX index constituent. Following the May 2026 deconsolidation of Fresenius Medical Care (now treated as a financial investment), the group operates through two main businesses: Fresenius Kabi, which supplies biopharmaceuticals, biosimilars (Conexxence, Bomyntra, Otulfi), IV generics, clinical nutrition (Fresubin, Pedismof), infusion and transfusion technologies, and cell processing systems (Lovo and Cue) to hospitals and healthcare providers globally; and Fresenius Helios, which operates Europe's leading private hospital network with roughly 140 clinics — Helios Kliniken in Germany (80+ hospitals, ~200 outpatient centers) and Quirónsalud in Spain (57 hospitals) — serving approximately 27 million patients annually. The group reported €22.5–22.6 billion in FY2025 revenue with about 178,000 employees (excluding Fresenius Medical Care), and is executing its #FutureFresenius REJUVENATE strategy across three therapy platforms: (Bio)Pharma including clinical nutrition, MedTech, and Care Provision.

Fresenius generates revenue primarily through B2B direct sales of pharmaceutical products, infusion systems, biosimilars, and medical devices to hospitals and healthcare providers worldwide via Fresenius Kabi's enterprise field sales force, complemented by Fresenius Helios's inpatient and outpatient hospital services revenue from German and Spanish operations (Helios Germany at €8.1B and Quirónsalud above €5.4B in 2025). Pricing is contract-driven and not publicly disclosed, with reimbursement for hospital services flowing through national and private healthcare payors. The company is investing heavily in digital infrastructure, including a strategic partnership with SAP and an investment in Avelios Medical to build a sovereign, interoperable AI-enabled hospital information system, alongside an AI/digital-twin biomanufacturing platform with HP at mAbxience, a U.S. epinephrine supply chain with Phlow Corp., and cell therapy partnerships with TQ Therapeutics and the EASYGEN consortium.

The company's competitive position rests on regulatory approvals (FDA interchangeability designation for denosumab biosimilars, EU approvals, FDA 510(k) clearances), a broad proprietary product portfolio across biosimilars, IV generics, and clinical nutrition, and the largest private hospital footprint in Europe. Strategic risk factors include European reimbursement pressure on hospital operations, dependency on German and Spanish regulatory regimes for the majority of Helios revenue, execution risk on multi-year digital and AI partnerships, and competitive intensity in biosimilars. The Else Kröner-Fresenius Foundation holds a significant ownership stake, providing stability, and CEO Michael Sen's contract has been extended through 2031 to lead the post-Fresenius Medical Care focused strategy.

Name

Fresenius

Legal name

Fresenius SE & Co. KGaA

Website

https://fresenius.com

Company type

Public

Founded year

1912

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Fresenius SE & Co. KGaA is a German global healthcare group operating Fresenius Kabi (biopharmaceuticals, biosimilars, IV generics, clinical nutrition, and medical devices) and Fresenius Helios (Europe's largest private hospital network in Germany and Spain), serving approximately 27 million patients annually with FY2025 revenue of €22.5–22.6 billion.

Ownership category

akta.pro rank

Product category

Healthcare Services and Pharmaceutical Products

NAICS

Pharmaceutical Preparation Manufacturing (325412), General Medical and Surgical Hospitals (622110)

SIC

Pharmaceutical Preparations (2834), Services-Hospitals (8060), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122), Wholesale-Medical, Dental & Hospital Equipment & Supplies (5047)

akta.pro primary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

akta.pro secondary industry

Specialty Pharma & Biologics Distribution (GDP-compliant) (HLAGAMAD)

Keywords

• Biopharmaceuticals manufacturing
• Clinical nutrition products
• Hospital care services
• Biosimilar development
• Infusion therapy systems

Headquarters

HQ city

Bad Homburg Vor Der Höhe

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Fresenius Kabi - Pharmaceutical and Medical Products: Sales of biopharmaceuticals, clinical nutrition products, IV generic drugs, medical technologies, and infusion systems. Fresenius Kabi reported sales of more than €8.5 billion in 2025.
2. Fresenius Helios - Hospital Operations: Revenue from hospital operations in Germany and Spain. Helios Germany generated €8.1 billion in sales in 2025. Quirónsalud generated more than €5.4 billion in sales in 2025.
3. Strategic Investments: Investment in Avelios Medical for next-generation hospital information systems as part of partnership with SAP for digital healthcare ecosystem.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Fresenius is a global healthcare group selling pharmaceutical and medical products through Fresenius Kabi (biopharmaceuticals, biosimilars, clinical nutrition such as Fresubin and Pedismof, IV generics, infusion and transfusion systems including Aurora plasmapheresis and Cue/Lovo cell processing systems) to hospitals and healthcare providers worldwide. Through Fresenius Helios, it operates Europe's leading private hospital network with 140+ clinics across Germany (Helios Kliniken) and Spain (Quirónsalud), serving approximately 27 million patients annually.

Product overview

Fresenius is a diversified healthcare company with three main operating units: Fresenius Kabi (products for chronically and critically ill patients), Fresenius Helios (Europe's leading private hospital operator), and Fresenius Medical Care (now treated as a financial investment after deconsolidation). Fresenius Kabi's portfolio includes biopharmaceuticals/biosimilars (Conexxence, Bomyntra, Otulfi), clinical nutrition (Fresubin, Pedismof), infusion therapy products, transfusion technology (Aurora plasmapheresis systems, Cue and Lovo cell processing systems), and I.V. generic drugs. Fresenius Helios operates hospitals through Helios Kliniken in Germany and Quirónsalud in Spain/Latin America, serving approximately 27 million patients annually. The company's strategy focuses on three therapy platforms: (Bio)Pharma including clinical nutrition, MedTech, and Care Provision. Strategic partnerships with SAP for AI-enabled healthcare platforms and HP for biopharmaceutical manufacturing support digital transformation initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• Fresenius Kabi: Global healthcare company specializing in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition, including biosimilars and IV generic drugs.
• Fresenius Helios
• Quirónsalud
• Helios Kliniken
• mAbxience
• Fresubin
• Conexxence (denosumab)
• Bomyntra (denosumab)

Products and services

• Fresenius Kabi Biopharmaceuticals and Biosimilars
• Fresenius Kabi Clinical Nutrition Products (Fresubin range)
• Pedismof parenteral nutrition range
• Fresenius Kabi Infusion Therapy Products
• Fresenius Kabi Transfusion Technology and Cell Therapy Devices (Aurora plasmapheresis systems, Cue and Lovo cell processing systems)
• Epinephrine Injection, USP
• Calcitonin Salmon Injection, USP Synthetic
• Fresenius Helios Hospital Operations (Helios Kliniken Germany and Quirónsalud Spain/Latin America)

Quantifiable outcome

• Approximately 27 million people served annually through Helios hospitals
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability7 records

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Phlow Corp.minorStrategic or Co-development Partner · 9 February 2026Fresenius Kabi entered a first-of-its-kind partnership with U.S. manufacturer Phlow Corp. to establish a fully domestic, end-to-end supply chain for Epinephrine Injection, USP. Phlow produces U.S.-based API while Fresenius Kabi manufactures finished doses for hospitals and clinics across the country.
• SAP SEcoreTechnology or Integration · 19 January 2026SAP and Fresenius announced a strategic partnership to build a sovereign, interoperable, AI-supported healthcare platform. The companies plan to jointly invest a mid three-digit million euro amount in the medium term to drive digital transformation of the German and European healthcare system. The platform enables hospitals worldwide to use AI securely while meeting requirements for data sovereignty, security, and regulatory compliance.
• TQ TherapeuticsminorStrategic or Co-development Partner · 14 January 2026Fresenius entered into a strategic development agreement with TQ Therapeutics to support scalable and efficient manufacturing of cell and gene therapies. Fresenius Kabi receives an exclusive license to integrate TQ Therapeutics' proprietary cell selection technology into its Cue Cell Processing System.
• EASYGEN ConsortiumminorStrategic or Co-development Partner · 8 December 2025A European consortium called EASYGEN launched to develop an automated, modular point-of-care manufacturing platform for CAR T-cell cancer therapy, backed by €8 million in EU funding. The consortium brings together 18 academic, research, industry, and clinic partners across eight countries including Fresenius.
• CapgeminiminorImplementation/ SI/ Consulting Partner · 17 March 2025Fresenius Digital Technology partnered with Capgemini to implement a virtual agent called FreDi, integrating ServiceNow and Microsoft Teams to improve IT support delivery without adding external technology stacks to FDT's existing ecosystem.

Scale indicators8 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• DaVita: U.S.-based dialysis services giant and primary dialysis peer to Fresenius Medical Care. Relevant as a reference for the deconsolidated FMC investment exposure and to size the dialysis segment Fresenius has spun out.
• Siemens Healthineers: German healthcare technology giant with hospital imaging, diagnostics, and digital health offerings. Comparable for hospital technology/MedTech adjacency and European hospital customer base.
• Pfizer: Global pharmaceutical major with a substantial biosimilars portfolio and injectable pharmaceuticals business. Comparable to Fresenius Kabi for portfolio breadth and biosimilar pipeline depth.
• Quirónsalud (Fresenius subsidiary) vs. peer hospital operators: Ramsay Health Care is a global private hospital operator with significant European (UK, France, Scandinavia) operations, making it broadly comparable to Fresenius Helios for private hospital economics, M&A, and regulatory exposure.
• HCA Healthcare: Largest U.S. for-profit hospital operator, comparable to Fresenius Helios for private hospital economics, scale, and capital allocation profile — relevant for sizing hospital segment valuation.

Direct peers

• Baxter International: Baxter is a direct competitor to Fresenius Kabi in IV solutions, clinical nutrition, infusion pumps, and injectable pharmaceuticals, with overlapping global hospital distribution. Most comparable peer for the Kabi segment.
• Sandoz Group: Spin-off from Novartis focused on generics and biosimilars. Direct competitor in biosimilars (denosumab, ustekinumab overlap) and IV injectables; most focused biosimilars comparable to Kabi.
• ICU Medical: U.S.-based manufacturer of IV medical devices, infusion pumps, and connection systems directly competing with Kabi's infusion therapy portfolio. Strongly comparable for the MedTech segment.
• B. Braun Melsungen: German family-owned medical device and pharmaceutical company directly competing with Fresenius Kabi in IV fluids, infusion therapy, clinical nutrition, and surgical products across Europe and globally.

Emerging players

• Formycon: German biosimilars developer partnering with Fresenius Kabi on Otulfi (ustekinumab). Comparable for biosimilar development capabilities and emerging-market biosimilar positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fresenius
• YouTubeyoutube.com/user/FreseniusTV
• Facebookfacebook.com/fresenius.group
• LinkedInlinkedin.com/company/fresenius-se
• Instagraminstagram.com/fresenius.group

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fresenius