EX-99.1 2 ex99_1.htm EXHIBIT 99.1

 

 

 

Investor News Oliver Maier
  Head of Investor Relations
   
  Fresenius Medical Care
  Else-Kröner-Straße 1
  61352 Bad Homburg
  Germany
  T +49 6172 609-2601
  F +49 6172 609-2301
  oliver.maier@fmc-ag.com
  www.fmc-ag.com

 

May 3, 2012

 

Fresenius Medical Care Reports Excellent First Quarter 2012 Results And Confirms Guidance For Full Year 2012

 

1st Quarter 2012 Summary:

 

Net revenue   $3,249 million   +9%
Operating income (EBIT)   $503 million   +13%
Net income *   $370 million   +68%
Earnings per share  $1.22   +67%
         
Earnings excluding investment gain:     
Net income *   $244 million   +10%
Earnings per share  $0.80   +10%

 

Bad Homburg, Germany – Fresenius Medical Care AG & Co. KGaA (the “company” or “Fresenius Medical Care”; Frankfurt Stock Exchange: FME / New York Stock Exchange: FMS), the world’s largest provider of dialysis products and services, today announced its results for the first quarter of 2012.

 

* Attributable to shareholders of Fresenius Medical Care AG & Co. KGaA

 

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Revenue

 

Net revenue for the first quarter of 2012 increased by 9% to $3,249 million (+10% at constant currency) compared to the first quarter of 2011. Organic revenue growth worldwide was 3%. Dialysis services revenue grew by 11% to $2,478 million (+12% at constant currency) and dialysis product revenue increased by 3% to $771 million (+5% at constant currency).

 

North America revenue for the first quarter of 2012 increased by 9% to $2,105 million. Dialysis services revenue grew by 11% to $1,918 million with a same market growth of 3%. Average revenue per treatment for U.S. clinics increased to $353 in the first quarter of 2012 compared to $348 for the corresponding quarter in 2011. Dialysis product revenue decreased by 4% to $187 million mainly as a result of lower pricing of renal pharmaceuticals.

 

International revenue increased by 8% to $1,136 million (+ 12% at constant currency). Organic revenue growth was 6%. Dialysis services revenue increased by 11% to $560 million (+16% at constant currency). Dialysis product revenue increased by 4% to $576 million and increased by 8% at constant currency, mainly driven by higher sales of dialysis machines.

 

Earnings

 

Operating income (EBIT) for the first quarter of 2012 increased by 13% to $503 million compared to $445 million in the first quarter of 2011. This resulted in an operating margin of 15.5% for the first quarter of 2012 compared to 14.9% for the corresponding quarter in 2011.

 

In North America, the operating margin increased from 16.2% to 16.5%. The increase in Medicare rates and the growth of our expanded services contributed favorably to this development. Average costs per treatment for U.S. clinics decreased to $286 in the first quarter of 2012 compared to $288 for the corresponding quarter in 2011.

 

In the International segment, the operating margin increased from 16.2% to 17.2%, mainly due to favorable exchange rate effects.

 

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Net interest expense for the first quarter of 2012 was $99 million, compared to $72 million in the first quarter of 2011. This development was mainly attributable to the higher level of financial debt as a result of the issuance of various tranches of senior notes over the course of 2011 and 2012.

 

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA for the first quarter of 2012 was $370 million, an increase of 68% compared to the corresponding quarter of 2011. This includes a non-taxable investment gain of $127 million related to the acquisition of Liberty Dialysis Holdings, Inc., including its 51% stake in Renal Advantage Partners, LLC (RAI). The gain is a result of measuring the 49% equity interest in RAI held by the company at its fair value at the time of the Liberty acquisition and is subject to the finalization of the Liberty purchase accounting. Excluding this investment gain net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA increased by 10% to $244 million.

 

Income tax expense was $137 million for the first quarter of 2012 compared to $124 million in the first quarter of 2011. The effective tax rate decreased to 25.8% from 33.3% driven by the non-taxable investment gain. Excluding the investment gain the effective tax rate was 33.9%.

 

Earnings per ordinary share (EPS) for the first quarter 2012 was $1.22 and $0.80 if excluding the investment gain. This represents an increase compared to the first quarter of 2011 of 67% and 10%, respectively. The weighted average number of shares outstanding for the first quarter of 2012 was approximately 304.2 million shares, compared to 302.3 million shares for the first quarter of 2011. The increase in shares outstanding resulted from stock option exercises in the past 12 months.

 

Cash flow

 

In the first quarter of 2012, the company generated $481 million in cash from operations, an increase of 174% compared to the corresponding figure last year and representing approximately 14.8% of revenue. The cash flow generation was supported by a favorable development of DSO and inventory levels as well as lower income tax payments.

 

A total of $122 million was spent for capital expenditures, net of disposals. Free cash flow before acquisitions was $359 million compared to $62 million in the first quarter of 2011. A total of $1,526 million in cash was spent for acquisitions and investments, net of divestitures. Free cash flow after acquisitions and divestitures was minus $1,167 million, compared to minus $277 million in the first quarter of 2011.

 

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Please refer to the attachments for a complete overview on the first quarter of 2012 and the reconciliation of non-GAAP financial measures included in this release to the most comparable GAAP financial measures.

 

Patients – Clinics – Treatments

 

As of March 31, 2012, Fresenius Medical Care treated 253,041 patients worldwide, which represents a 17% increase compared to the previous year’s figure. North America provided dialysis treatments for 161,656 patients, an increase of 17%. Including 21 clinics managed by Fresenius Medical Care North America, the number of patients in North America was 163,261. The International segment provided dialysis treatment to 91,385 patients, an increase of 16% over the prior year’s figure.

 

As of March 31, 2012, the company operated a total of 3,119 clinics worldwide, which represents a 13% increase compared to the previous year’s figure. The number of clinics is comprised of 2,053 clinics in North America (2,074 including managed clinics), and 1,066 clinics in the International segment, representing an increase of 13% and 13%, respectively.

 

During the first quarter of 2012, Fresenius Medical Care delivered approximately 9.21 million dialysis treatments worldwide. This represents an increase of 13%, compared to last year’s figure. North America accounted for 5.75 million treatments, an increase of 10%. The International segment delivered 3.47 million treatments, an increase of 18%.

 

Employees

 

As of March 31, 2012, Fresenius Medical Care had 82,979 employees (full-time equivalents) worldwide, compared to 79,159 employees at the end of 2011. This increase of more than 3,800 employees is due to overall growth in the company’s business and acquisitions including Liberty Dialysis Holdings, Inc.

 

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Debt/EBITDA ratio

 

The ratio of debt to Earnings before interest, taxes, depreciation and amortization (EBITDA) increased from 2.55 at the end of the first quarter of 2011 to 2.96 at the end of the first quarter of 2012. The debt/EBITDA ratio at the end of 2011 was 2.69.

 

Rating

 

In February Standard & Poor’s Ratings Services upgraded the company’s corporate credit to ‘BB+’ from ‘BB’. The agency also raised the ratings of Fresenius Medical Care’s various unsecured senior notes to ‘BB+’ from ‘BB’. The rating of ‘BBB-’ on Fresenius Medical Care’s senior secured credit facilities was affirmed. A stable outlook has been assigned to all ratings. Moody’s rates the company’s corporate credit as ‘Ba1’ with a ‘stable’ outlook, and Fitch rates the company’s corporate credit as ‘BB+’ with a ‘stable’ outlook. For further information on Fresenius Medical Care’s credit ratings, maturity profiles and credit instruments, please visit our website at www.fmc-ag.com / Investor Relations / Credit Relations.

 

Announcement of Management Board Change

 

On March 9, 2012, Fresenius Medical Care announced a change in the Management Board. Rice Powell will succeed Dr. Ben J. Lipps as CEO of Fresenius Medical Care AG & Co. KGaA and Chairman of the Management Board, effective January 1, 2013. The appointment of Rice Powell is part of the company’s succession plan to ensure a smooth transition of leadership. Ben Lipps was appointed Chief Executive Officer and Chairman of the Management Board in 1999. In recognition of his extraordinary achievements and unique expertise Dr. Ben J. Lipps has been appointed Honorary Chairman of the supervisory boards of Fresenius Medical Care AG & Co. KGaA and the Fresenius Medical Care Management AG, effective January 1, 2013.

 

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Closing of the acquisition of Liberty Dialysis Holdings

 

Fresenius Medical Care North America has closed the acquisition of Liberty Dialysis Holdings, Inc., the holding company of Liberty Dialysis and Renal Advantage effective February 28, 2012. The closing followed the completion of the review of the transaction and issuance of a consent decree by the United States’ Federal Trade Commission. In connection with the consent decree, Fresenius Medical Care completed the sale of 44 clinics to Dialysis Newco, Inc. (“DSI Renal”). The acquisition of Liberty Dialysis Holdings Inc. is expected to add annual revenues of around $ 700 million and 201 clinics to Fresenius Medical Care’s network for an investment, net of proceeds from the divestiture, of approximately $1.5 billion.

 

Sales and earnings outlook for 2012 confirmed

 

For the full year 2012, the company confirms its sales and earnings outlook.

 

The company expects revenue to grow to around $14 billion in 2012.

 

Net income is expected to grow to around $1.3 billion and net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to grow to around $1.14 billion. This does not include the investment gain in the amount of approximately $ 127 million in the first quarter of 2012.

 

For 2012, the company expects to spend around $700 million on capital expenditures and around $1.8 billion on acquisitions. The debt/EBITDA ratio is expected to be below 3.0 by the end of 2012.

 

“Our first quarter results show an excellent start for the year with both the North American as well as the International segment continuing their strong operating performance. On this basis we clearly confirm our previous guidance for the full year 2012 expecting another record year in terms of revenue and earnings”, said Ben Lipps, chief executive officer of Fresenius Medical Care. “We have made very good progress on our growth initiatives globally and successfully closed the acquisition of Liberty Dialysis during the first quarter of 2012. With our global base we continue to be well positioned for the continuing success of our business.”

 

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Conference call

 

Fresenius Medical Care will hold a conference call to discuss the results of the first quarter of 2012 on Thursday, May 3, 2012, at 3:30 p.m. CEDT / 9:30 a.m. EDT. The company invites investors to view the live webcast of the call at the company’s website www.fmc-ag.com in the “Investor Relations” section. A replay will be available shortly after the call.

 

Fresenius Medical Care is the world's largest integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure, a condition that affects more than 2.1 million individuals worldwide. Through its network of 3,119 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 253,041 patients around the globe. Fresenius Medical Care is also the world's leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products.

 

For more information about Fresenius Medical Care, visit the company’s website at www.fmc-ag.com.

 

Disclaimer

This release contains forward-looking statements that are subject to various risks and uncertainties. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including changes in business, economic and competitive conditions, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. These and other risks and uncertainties are detailed in Fresenius Medical Care AG & Co. KGaA's reports filed with the U.S. Securities and Exchange Commission. Fresenius Medical Care AG & Co. KGaA does not undertake any responsibility to update the forward-looking statements in this release.

 

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Fresenius Medical Care  Three Months Ended   
Statement of Earnings  March 31,   
(in US-$ thousands, except share data)  2012  2011  % Change
(unaudited)         
          
Revenue               
Dialysis care   2,544,059    2,285,316    11.3%
Less: patient service bad debt provision   66,859    52,537    27.3%
Net dialysis care   2,477,200    2,232,779    10.9%
Dialysis products   771,555    751,072    2.7%
Total net revenue   3,248,755    2,983,851    8.9%
                
Cost of revenue   2,179,246    2,035,964    7.0%
Gross profit   1,069,509    947,887    12.8%
                
Selling, general and administrative   552,832    484,236    14.2%
Gain on sale of dialysis clinics   (9,314)   —      
Research and development   28,522    26,149    9.1%
Income from equity method investees   (5,497)   (7,582)   -27.5%
Operating income (EBIT)   502,966    445,084    13.0%
Investment gain   (126,685)   —      
Interest income   (20,306)   (10,421)   94.9%
Interest expense   119,186    81,986    45.4%
Interest expense, net   98,880    71,565    38.2%
Income before taxes   530,771    373,519    42.1%
Income tax expense   137,077    124,404    10.2%
Net income   393,694    249,115    58.0%
Less: Net income attributable to noncontrolling interests   23,196    28,414    -18.4%
Net income attributable to shareholders of FMC AG & Co. KGaA   370,498    220,701    67.9%
                
Operating income (EBIT)   502,966    445,084    13.0%
                
Depreciation and amortization   143,374    135,984    5.4%
EBITDA   646,340    581,068    11.2%
                
Earnings per ordinary share  $1.22   $0.73    66.8%
Earnings per ordinary ADS  $1.22   $0.73    66.8%
                
Weighted average number of shares               
Ordinary shares   300,205,126    298,292,972      
Preference shares   3,966,001    3,957,435      
                
In percent of revenue               
Cost of revenue   67.1%   68.2%     
Gross profit   32.9%   31.8%     
Selling, general and administrative   17.0%   16.2%     
Gain on sale of dialysis clinics   -0.3%   —      
Research and development   0.9%   0.9%     
Income from equity method investees   -0.2%   -0.3%     
Operating income (EBIT)   15.5%   14.9%     
Investment gain   -3.9%          
Interest expense, net   3.0%   2.4%     
Income before taxes   16.3%   12.5%     
Income tax expense   4.2%   4.2%     
Net income attributable to noncontrolling interests   0.7%   1.0%     
Net income attributable to shareholders of FMC AG & Co. KGaA   11.4%   7.4%     
                
EBITDA   19.9%   19.5%     

 

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Fresenius Medical Care  Three Months Ended   
Segment and Other Information  March 31,   
(in US-$ million, except employees)  2012  2011   % Change
(unaudited)         
          
Net revenue               
North America   2,105    1,925    9.3%
International   1,136    1,055    7.7%
Corporate   8    4    109.0%
Total net revenue   3,249    2,984    8.9%
                
Operating income (EBIT)               
North America   348    312    11.4%
International   195    171    14.0%
Corporate   (40)   (38)   4.6%
Total operating income (EBIT)   503    445    13.0%
                
Operating income in percent of revenue               
North America   16.5%   16.2%     
International   17.2%   16.2%     
Total   15.5%   14.9%     
                
Employees          
Full-time equivalents   82,979    74,844      

 

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Fresenius Medical Care      
Reconciliation of non US-GAAP   
financial measures to the most directly  Three Months Ended
comparable US-GAAP financial measures  March 31,
(in US-$ million)  2012  2011
(unaudited)      
       
Segment information North America           
Net revenue   2,105    1,925 
Costs of revenue and research and development   1,439    1,351 
Selling, general and administrative   330    270 
Gain on sale of dialysis clinics   (9)   — 
Income from equity method investees   (3)   (8)
Costs of revenue and operating expenses   1,757    1,613 
Operating income (EBIT)   348    312 
In percent of revenue   16.5%   16.2%
           
Dialysis products revenue incl. and excl. internal sales          
North America          
Dialysis products revenue incl. internal sales   371    377 
Less internal sales   (184)   (182)
Dialysis products external sales   187    195 
International          
Dialysis products revenue incl. internal sales   682    644 
Less internal sales   (106)   (92)
Dialysis products external sales   576    552 
           
Reconciliation of cash flow from operating activities to EBITDA 1)          
Total EBITDA   646    581 
Interest expense, net   (99)   (72)
Income tax expense   (137)   (124)
Change in working capital and other non-cash items   71    (210)
Net cash provided by operating activities   481    175 
           
Annualized EBITDA 2)          
Operating income (EBIT) last twelve months   2,284    1,944 
Depreciation and amortization last twelve months   635    514 
Non-cash charges   56    47 
Annualized EBITDA   2,975    2,505 

 

1) EBITDA is the basis for determining compliance with certain covenants in Fresenius Medical Care's long-term debt instruments.

2) EBITDA 2012: Pro forma numbers including Liberty Dialysis Holdings Inc., after FTC mandated divestitures.

 

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Fresenius Medical Care  March 31,  December 31,
Balance Sheet  2012  2011
(in US-$ million)  (unaudited)  (audited)
           
Assets          
Current assets   6,093    5,695 
Intangible assets   12,034    9,873 
Other non-current assets   3,861    3,965 
Total assets   21,988    19,533 
           
Liabilities and equity          
Current liabilities   5,886    4,263 
Long-term liabilities   6,965    6,799 
Noncontrolling interests subject to put provisions   502    410 
Total equity   8,635    8,061 
Total liabilities and equity   21,988    19,533 
           
Equity/assets ratio:   39%   41%
           
Debt          
Short-term borrowings   104    99 
Short-term borrowings from related parties   15    28 
Current portion of long-term debt and capital lease obligations   3,107    1,589 
Long-term debt and capital lease obligations, less current portion   5,583    5,495 
Total debt   8,809    7,211 

 

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Fresenius Medical Care      
Cash Flow Statement      
Three months ended March 31,   2012    2011 
(in US-$ million)          
(unaudited)          
           
Operating activities          
Net income   394    249 
Depreciation / amortization   143    136 
Investment gain   (127)   — 
Change in working capital and other non-cash items   (71)   (210)
Cash Flow from operating activities   481    175 
           
Investing activities          
Purchases of property, plant and equipment   (124)   (117)
Proceeds from sale of property, plant and equipment   2    4 
Capital expenditures, net   (122)   (113)
Free Cash Flow   359    62 
           
Acquisitions, net of cash acquired, and net purchases of intangible assets   (1,703)   (339)
Proceeds from divestitures   177    — 
Acquisitions, net of divestitures   (1,526)   (339)
Free Cash Flow after investing activities   (1,167)   (277)
           
Financing activities          
Change in accounts receivable securitization program   (333)   (510)
Change in intercompany debt   (14)   24 
Change in other debt   1,654    862 
Proceeds from exercise of stock options   4    2 
Distributions to noncontrolling interests   (32)   (25)
Contributions from noncontrolling interests   5    4 
Cash Flow from financing activities   1,284    357 
           
Effects of exchange rates on cash   6    17 
Net increase (decrease) in cash   123    97 
           
Cash at beginning of period   457    523 
Cash at end of period   580    620 

 

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Fresenius Medical Care            
Quarterly Performance Scorecard - Revenue            
Three months ended March 31,   2012    cc    2011    cc 
(in US-$ thousands, except per-treatment revenue)                    
(unaudited)                    
                     
North America                    
Net revenue   2,104,584         1,924,751      
Growth year-over-year   9.3%        1.2%     
                     
Net Dialysis care   1,917,384         1,729,464      
Growth year-over-year   10.9%        1.5%     
U.S. per treatment   353         348      
Per treatment   345         340      
Sequential growth   0.8%        -1.9%     
Growth year-over-year   1.5%        -2.2%     
                     
Dialysis products                    
Incl. internal sales   371,028         376,716      
Growth year-over-year   -1.5%        3.1%     
External sales   187,200         195,287      
Growth year-over-year   -4.1%        -2.0%     
                     
International                    
Net revenue   1,136,090         1,055,233      
Growth year-over-year   7.7%   11.8%   14.4%   13.0%
                     
Net dialysis care   559,816         503,315      
Growth year-over-year   11.2%   16.1%   22.6%   21.2%
Per treatment   161    169    172    170 
Sequential growth   0.2%        1.7%     
Growth year-over-year   -5.9%   -1.8%   3.4%   2.2%
                     
Dialysis products                    
Incl. internal sales   682,190         643,954      
Growth year-over-year   5.9%   9.8%   8.9%   7.6%
External sales   576,273         551,917      
Growth year-over-year   4.4%   7.8%   7.8%   6.4%
                     
cc = at constant currencies 1                    

 

1 Constant currency

Changes in revenue include the impact of changes in foreign currency exchange rates. We use the non-GAAP financial measure “at constant exchange rates” in our filings to show changes in our revenue without giving effect to period-to-period currency fluctuations. Under U.S. GAAP, revenues received in local (non-U.S. dollar) currency are translated into U.S. dollars at the average exchange rate for the period presented. When we use the term “constant currency”, it means that we have translated local currency revenues for the current reporting period into U.S. dollars using the same average foreign currency exchange rates for the conversion of revenues into U.S. dollars that we used to translate local currency revenues for the comparable reporting period of the prior year. We then calculate the change, as a percentage, of the current period revenues using the prior period exchange rates versus the prior period revenues. This resulting percentage is a non-GAAP measure referring to a change as a percentage “at constant exchange rates”.

 

We believe that revenue growth is a key indication of how a company is progressing from period to period and that the non-GAAP financial measure constant currency is useful to investors, lenders, and other creditors because such information enables them to gauge the impact of currency fluctuations on its revenue from period to period. However, we also believe that data on constant currency period-over-period changes have limitations, particularly as the currency effects that are eliminated could constitute a significant element of our revenue and could significantly impact our performance. We therefore limit our use of constant currency period-over-period changes to a measure for the impact of currency fluctuations on the translation of local currency revenue into U.S. dollars. We do not evaluate our results and performance without considering both constant currency period-over-period changes in non-U.S. GAAP revenue on the one hand and changes in revenue prepared in accordance with U.S. GAAP on the other. We caution the readers of this report to follow a similar approach by considering data on constant currency period-over-period changes only in addition to, and not as a substitute for or superior to, changes in revenue prepared in accordance with U.S. GAAP. We present the fluctuation derived from U.S. GAAP revenue next to the fluctuation derived from non-GAAP revenue. Because the reconciliation is inherent in the disclosure, we believe that a separate reconciliation would not provide any additional benefit.

 

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Fresenius Medical Care      
Quarterly Performance Scorecard - Dialysis Care Volume       
Three months ended March 31,   2012    2011 
(unaudited)          
           
North America          
Number of treatments   5,745,986    5,241,652 
Treatments per day   73,666    68,073 
Per day sequential growth   5.8%   0.6%
Per day year-over-year growth   8.2%   4.1%
Same market growth year-over-year   3.4%   3.7%
           
International          
Number of treatments   3,466,660    2,933,190 
Same market growth year-over-year   4.6%   5.6%

 

Fresenius Medical Care      
Quarterly Performance Scorecard - Expenses      
Three months ended March 31,   2012    2011 
(unaudited)          
           
North America          
Costs of revenue and operating expenses, gain on sale of dialysis clinics and income from equity method investees          
In percent of revenue   83.5%   83.8%
Selling, general and administrative          
In percent of revenue   15.7%   14.0%
U.S. Dialysis care operating expenses/treatment (in US-$)   286    288 
Sequential growth   2.3%   0.5%
Growth year-over-year   -0.8%   -2.3%
Dialysis Care operating expenses/treatment (in US-$)   280    282 
Sequential growth   2.5%   0.4%
Growth year-over-year   -0.6%   -2.5%
           
Total Group          
Costs of revenue and operating expenses, gain on sale of dialysis clinics and income from equity method investees          
In percent of revenue   84.5%   85.1%
Selling, general and administrative          
In percent of revenue   17.0%   16.2%
Effective tax rate   25.8%   33.3%

 

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Fresenius Medical Care          
Quarterly Performance Scorecard - Cash Flow/Investing Activities          
Three months ended March 31,   2012    2011 
(in US-$ thousands, except number of de novos)          
(unaudited)          
           
Total Group          
Operating cash flow   481,177    175,319 
In percent of revenue   14.8%   5.9%
           
Free cash flow before acquisitions   358,608    62,159 
In percent of revenue   11.0%   2.1%
           
Acquisitions and investments, net of divestitures   1,526,081    338,792 
           
Capital expenditures, net   122,569    113,160 
In percent of revenue   3.8%   3.8%
           
Maintenance   75,224    77,056 
In percent of revenue   2.3%   2.6%
           
Growth   47,345    36,104 
In percent of revenue   1.5%   1.2%
           
Number of de novos   12    22 
North America   6    15 
International   6    7 

 

Fresenius Medical Care       
Quarterly Performance Scorecard - Balance Sheet      
March 31,   2012    2011 
(unaudited)          
           
Total Group          
Debt (in US-$ million)   8,809    6,397 
Debt/EBITDA   3.0    2.6 
           
North America          
Days sales outstanding   55    60 
           
International          
Days sales outstanding   124    116 

 

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Fresenius Medical Care      
Quarterly Performance Scorecard      
Three months ended March 31,   2012    2011 
           
North America (U.S.)          
Clinical Performance          
Single Pool Kt/v > 1.2   97%   97%
Hemoglobin = 10-12g/dl   78%   73%
Hemoglobin = 10-13g/dl   86%   88%
Calcium = 8.4-10.2mg/dl   82%   79%
Albumin >= 3.5 g/dl 1)   85%   84%
No catheter   78%   76%
Phosphate <= 5.5mg/dl   64%   63%
Hospitalization days per patient (12 months ending March 31)   9.8    9.8 
           
Demographics          
Average age (in years)   62    62 
Average time on dialysis (in years)   3.8    3.7 
Average body weight (in kg)   81    81 
Prevalence of diabetes   57%   56%
           
Europe, Middle East and Africa          
Clinical Performance          
Single Pool Kt/v > 1.2   96%   96%
Hemoglobin = 10-12g/dl   57%   54%
Hemoglobin = 10-13g/dl   77%   78%
Calcium = 8.4-10.2mg/dl   77%   78%
Albumin >= 3.5 g/dl 1)   86%   88%
No catheter   82%   81%
Phosphate <= 5.5mg/dl   77%   76%
Hospitalization days per patient (12 months ending March 31)   9.4    9.8 
           
Demographics          
Average age (in years)   64    64 
Average time on dialysis (in years)   5.1    5.0 
Average body weight (in kg)   71    71 
Prevalence of diabetes   27%   27%

 

1) International standard BCR CRM470

 

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