Yahoo Finance Fresenius Medical's (FMS) Training Center to Boost Patient Care
Fresenius Medical Care AG & Co. KGaA FMS recently announced the grand opening of its first training center in Korea that will provide extensive education programs, and share its knowledge and expertise in renal care, critical care and treatment strategies with healthcare professionals. Notably, the training center — The Fresenius Medical Care Training Center — is the first healthcare education facility in Korea that is being run by a dialysis product provider.
The opening of the training center will allow Fresenius Medical Care Korea to provide ongoing support of healthcare professional education. Additionally, the center helps individual healthcare professionals, specializing in specific treatment modalities like continuous renal replacement therapy (CRRT), with educational opportunities.
This development is likely to further strengthen Fresenius Medical’s global footprint, thereby fortifying its market position.
Significance of the Training Center
Per management, the center will provide high-standard, systematic training to healthcare professionals to help them in enhancing their knowledge and skills in renal and critical care. More importantly, the training programs and other events at the center will aid in advancing the collective knowledge within the industry, thereby making it possible for boosting patient care.
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The center will allow certified trainers from Fresenius Medical to collaborate with regional clinical education experts from across Asia Pacific to offer best practice training for healthcare professionals within the renal care space.
Market Prospects
Per a report by Fortune Business Insights, the global dialysis market size was worth $90.33 billion in 2019 and is expected to reach $177.56 billion by 2027, witnessing a CAGR of 7.7% during the forecast period (2020-2027). Hence, this announcement is well-timed for Fresenius Medical.
Recent Developments
In March, DaVita Inc. DVA announced the extension of its collaboration with Fresenius Medical’s North America wing to use the latter’s NxStage home hemodialysis machines and related technology for patients across the United States. Notably, the agreement supports the companies’ efforts to empower more people living with kidney failure to select home dialysis as an option.
Also in March, the company made its own dialysis clinics available for the vaccination of its patients against COVID-19.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 0.6% on a year-to-date basis, compared with the industry’s growth of 4.3%.
Stocks to Consider
Two better-ranked stocks from the broader medical space are Veeva Systems Inc. VEEV and Baxter International Inc. BAX, both currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Veeva Systems’ long-term earnings growth rate is estimated at 15.8%.
Baxter International’s long-term earnings growth rate is projected at 9.3%.
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