After deciding this week that its CEO needs to be based in Eagan, Minn., and with chief executive Chris von Jako unwilling to relocate his family, Dynatronics (NSDQ:DYNT) promoted COO Brian Baker to the corner office, effective August 28. “After thoughtful consideration, the board of directors determined that the company’s CEO needs to be based in […]
Trump reveals plan to overhaul kidney disease care
The Trump administration yesterday revealed its plan to overhaul the way kidney disease is treated in the U.S., looking to increase early detection and emphasize transplants and home hemodialysis instead of in-clinic treatment via executive order. Shares of dialysis providers DaVita Healthcare (NYSE:DVA) and Fresenius (NYSE:FMS) took a hit earlier this week on news of the changes. The executive […]
DaVita, Fresenius slide on Trump threat to overhaul dialysis market
Shares of dialysis providers DaVita Healthcare (NYSE:DVA) and Fresenius (NYSE:FMS) took a hit today after a report surfaced that the Trump administration is readying an overhaul of the kidney treatment market. The president plans to issue an executive order tomorrow that would seek to incentivize kidney transplants and home hemodialysis in a bid to lower the […]
Fresenius invests in BioIntelliSense
Fresenius Medical Care (NYSE:FMS; ETR:FRE) today announced an investment in BioIntelliSense for an undisclosed amount. Denver-based BioIntelliSense is developing a medical-grade data services platform for continuous remote health monitoring, predictive analytics and algorithmic clinical insights. Through the agreement, Fresenius will use the advanced analytics and artificial intelligence to develop medical wearables for clinical pathways that allow […]
Fresenius OKs $748m stock buyback
Fresenius (NYSE:FMS) said last week that its board authorized a stock buyback worth up to €660 million, or just more than 3% of its total shares. The one-year authorization to repurchase up to 12 million shares is worth about $748 million; on the day of any trades the Bad Homburg, Germany-based renal care giant can’t miss that […]
S&P upgrades Fresenius Medical
Fresenius Medical Care (NYSE:FMS; ETR:FRE) said last Thursday that Standard & Poor’s upgraded its corporate credit rating to BBB. The Bad Homburg, Germany-based company said that S&P gave them a BBB rating with a stable outlook from BBB- with a positive outlook. Fresenius said that it is rated as investment grade by the three leading rating agencies […]
‘Berkmorgazon’ health play Haven COO Stoddard steps away | Personnel Moves – May 17, 2019
Healthcare joint venture Haven, started by Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan, has lost its COO Jack Stoddard at just nine months post-hiring, according to a CNBC report. The former digital health general manager for Comcast told the news channel that he is departing the healthcare play due to personal reasons, including the distance between […]
Fresenius posts Street-beating Q1 earnings
Shares in Fresenius Medical Care (NYSE:FMS; ETR:FRE) rose slightly today after the dialysis-focused device maker beat expectations on Wall Street with its first quarter earnings release. The Bad Homburg, Germany-based company posted profits of $303.2 million, or 99¢ per share, on sales of approximately $4.62 billion for the three months ended March 31, seeing the bottom […]
FTC grants final approval for Fresenius’s $2B buyout of NxStage
The U.S. Federal Trade Commission said yesterday that it granted a final order of approval to Fresenius Medical Care (NYSE:FMS; ETR:FRE) for its $2 billion acquisition of NxStage Medical. The approval came with a caveat that the companies divest their assets and rights to research, develop, manufacture, market and sell NxStage’s bloodline tubing sets intended for use […]
SEC details Fresenius’ $231m FCPA settlement
Updated to include a response from Fresenius The U.S. Securities and Exchange Commission today detailed the more than $231 million that Fresenius Medical Care (NYSE:FMS; ETR:FRE) agreed to pay to resolve self-reported violations of the Foreign Corrupt Practices Act. In its release, the SEC said that it found that Germany-based Fresenius engaged in misconduct in Saudi […]
ConvaTec taps Bitar as CEO | Personnel Moves – March 26, 2019
ConvaTec (LON:CTEC) said today it tapped Karim Bitar as its new CEO, set to take the position on September 30. Prior to joining the U.K.-based medtech company, Bitar served as CEO of agricultural biotech company Genus, holding the corner office position for approximately eight years. Before his time with Genus, Bitar spent 15 years in various […]
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