FRE Fresenius SE & Co KGaA

   By Cristina Roca 
 

Fresenius SE & Co. KGaA said Friday that its hospital business in Germany, Helios Germany, shouldn't be significantly hit by the coronavirus assuming the pandemic substantially subsides by this summer.

The healthcare company said a law passed by Germany's parliament earlier this week will likely offset a big part of the lost sales and increased costs of its Helios Germany business, which is the largest private hospital operator in the country.

Fresenius said it welcomed the measures, which include a co-investment of 50,000 euros ($54,831) per new intensive care bed.

Helios Germany will increase the number of intensive care unit beds in its hospitals to 1,500 from 900, and it is delaying surgeries whenever possibly in accordance with the authorities' request to clear up space for coronavirus patients, the company said.

"Assuming the pandemic substantially subsides by the summer, management currently estimates that the financial impact on Helios Germany in 2020, although negative, will not be very significant," the company said.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

March 27, 2020 04:36 ET (08:36 GMT)

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