BERLIN (Reuters) – 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)
