FRESENIUS KABI AND RUSSIAN PARTNERS TERMINATE JOINT VENTURE AGREEMENT
November 06, 2014-Bad Homburg v.d.H. -- Fresenius Kabi and its partners Sistema JSFC and Zenitco Finance Management LLC have mutually agreed to terminate the joint venture agreement announced in April 2014. The intention was to combine Fresenius Kabi's Russian and CIS business with the partners' subsidiary CJSC Binnopharm. Changing political and regulatory circumstances in the region have made the closing of the joint venture more challenging than anticipated.
Fresenius Kabi entered the Russian market in 1994 and today provides infusion therapies, clinical nutrition and I.V. drugs. The company is committed to further grow its business in the region, and is exploring other potential options to cooperate with Binnopharm.
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Fresenius is a global health care group, providing products and services for dialysis, hospital and outpatient medical care. In 2013, Group sales were €20.3 billion. On September 30, 2014, the Fresenius Group had 214,401 employees worldwide.
For more information visit the Company's website at www.fresenius.com.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.
Fresenius SE & Co. KGaA
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11852
Chairman of the Supervisory Board: Dr. Gerd Krick
General Partner: Fresenius Management SE
Registered Office: Bad Homburg, Germany
Commercial Register: Amtsgericht Bad Homburg, HRB 11673
Management Board: Dr. Ulf M. Schneider (Chairman), Dr. Francesco De Meo, Dr. Jürgen Götz, Mats Henriksson, Rice Powell, Stephan Sturm, Dr. Ernst Wastler
Chairman of the Supervisory Board: Dr. Gerd Krick