Annual Report 2025

Change report

Upgrading our Core

Introducing Fresenius’ next transformation phase

Fresenius is a stronger, more focused, more innovative and more efficient healthcare company than three years ago. We have made tremendous progress with our strategic transformation to create #FutureFresenius. From the outset, we defined a clear roadmap with four phases: Reset, Revitalize, Rejuvenate and Reimagine. #FutureFresenius is not just another transformation – it is a multi-year strategy!

In 2025, we launched the next phase of our strategy with strong momentum: Rejuvenate. Despite a fast-changing macroeconomic and geopolitical environment, we moved forward with confidence – driven by our clear priorities and the collective effort across the entire company.

“Over the past three years, we have successfully implemented our #FutureFresenius strategy and created a new Fresenius that is innovative, relevant, resilient, and adaptable. At the same time, we have significantly bolstered our company’s economic strength.”
Michael Sen, Chairman of the Management Board (Photo)

Three priorities define the Rejuvenate phase:

  1. Upgrading our core

  2. Scaling our platforms

  3. Further elevating our performance

Ultimately, it is about bringing new products and innovations to market, staying closely aligned with patient needs and creating long-term value across the healthcare ecosystem.

How we strengthen our “Core” to deliver better care

“Upgrading our Core” means continuously advancing our core businesses – Fresenius Kabi and Fresenius Helios – across product pipelines, people and talent, technical operations and medical workflows. In short: we keep doing what we do best – but we do it even better.

What this means for Fresenius Kabi

With our products and services, Fresenius Kabi supports patients in critical moments – in the emergency room, the operating theatre or the intensive care unit. We hold leading global positions across all four business areas: Pharma, Nutrition, MedTech and Biopharma.

Alma’s Story: Why we keep doing what we do – but even better

Our positive impact becomes most tangible through patient stories. One of them is Alma, a Fresenius Kabi employee diagnosed with breast cancer while expecting a child. The medicines she once helped bring to patients supported her through chemotherapy, pregnancy and recovery – a powerful example of how scientific excellence translates into personal strength when it matters most.

“From chemo to my epidural, and even throughout my pregnancy, Fresenius Kabi products were there. That gave me strength and confidence.”

Across Pharma, we continued building on our strong heritage as a leading provider of high-quality medical products – including generics and IV solutions, which form the backbone of resilient healthcare systems. In 2025, we expanded our pharma portfolio with several product launches in the U.S. Around 70% of our U.S. portfolio consists of medicines listed on the FDA’s list of essential medicines – underlining our relevance in safeguarding supply.

Josh’s Story: Supporting independence at home

Through the 2025 Caring with Courage series – presented by the International Council of Nurses (ICN) and produced for them by BBC StoryWorks Commercial Productions – we highlighted how our portfolio supports independence and quality of life. Homecare nurses enable patients requiring complex therapies, such as home parenteral nutrition, to safely transition from hospital to home – empowering them to manage their health with confidence.

“One thing I really enjoy about the job is building that relationship with patients that I see regularly. You can feel quite vulnerable at home, so building up that trust is really important.”

In Nutrition, we further strengthened our position in enteral and parenteral nutrition. Five new enteral nutrition products were launched in 2025, reinforcing our ambition to deliver tailored clinical nutrition solutions that make a meaningful difference in patients’ daily lives.

Cannan’s Story: The power of plasma donation

Eight-year-old Cannan Caton lives with Common Variable Immune Deficiency (CVID), a rare immune disorder. To stay healthy, he relies on IVIG therapy – made possible only through plasma donation. Thanks to the generosity of donors and the therapies we help bring to life, Cannan is thriving.

“We make sure that Cannan is able to do everything a normal little boy should be able to do. IVIG is truly life-saving and life-giving.”

In MedTech, we continued leading in blood collection technologies, expanded our cell processing capabilities, and advanced infusion therapy with the rollout of our innovative Ivenix Infusion System.

What this means for Fresenius Helios

Fresenius Helios comprises Europe’s leading private hospital networks in Germany and Spain. With around 140 clinics and numerous outpatient facilities, we treat about 27 million people annually.

Excellence in patient care

Both Helios Germany and Quirónsalud are recognized as quality leaders.

Can you guess?

How many treatment cases in Germany exceeded the market-average quality performance in 2025?

In Spain, 13 Quirónsalud hospitals were listed among the World’s Best Hospitals 2025 by Newsweek, and more than 60 Quirónsalud doctors were recognized by Forbes España among the top 100 doctors in Spain.

What modern medicine can achieve today

In 2025, a highly specialized team at Helios Pforzheim saved the life of a premature baby born at 26 weeks and weighing just 490 grams. The successful diaphragmatic hernia surgery – rarely attempted at such an early stage – demonstrates what coordinated expertise and modern neonatal workflows can achieve.

“This case shows what modern medicine can achieve today – but above all, what is possible when a highly motivated team works together. We are proud of everyone involved.”
Group photo of the highly specialised team at Helios Hospital Pforzheim with the parents and the premature baby, who was born in the 26th week of pregnancy weighing 490 grams (Photo)Both parents with the premature baby at Helios Hospital Pforzheim, who was born in the 26th week of pregnancy weighing 490 grams (Photo)

Upgrading our Core also means modernizing systems

In intensive care units across Helios Germany, anesthetic gas recycling systems reduced emissions by around 20% in 2025 while maintaining full clinical safety. This marks a concrete step toward more sustainable care and aligns with Fresenius’ new sustainability concept.

An anaesthetic gas recycling system is shown in use in the intensive care unit of a Helios hospital (Photo)A patient is being anaesthetised in the intensive care unit of a Helios hospital using an anaesthetic gas recycling system (Photo)

Regional clustering for better, faster, more precise care

Fresenius Helios rolled out its nationwide cluster model in Germany. By grouping hospitals and outpatient centers into regional medical ecosystems, Helios strengthens specialization, improves coordinated patient pathways and optimizes resources. Nearly all Helios hospitals now operate in clusters – ensuring consistent quality and rapid access to expertise across regions.

Fresenius Helios rolled out its nationwide cluster model in Germany. By grouping hospitals and outpatient centers into regional medical ecosystems (Photo)
Enteral nutrition
Application of liquid nutrition as a tube or sip feed via the gastrointestinal tract.
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Parenteral nutrition
Application of nutrients directly into the bloodstream of the patient (intravenously). This is necessary if the condition of a patient does not allow them to absorb and metabolize essential nutrients orally or as sip and tube feed in a sufficient quantity.
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