Welcome to this year's AGM of Fresenius SE & Co. KGaA. Now, der Versammlungsleiter and head of the meeting and Chairman of the Supervisory Board will talk to you.
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Good morning, ladies and gentlemen. As Chairman of the Supervisory Board, I hereby open the 2025 Annual General Meeting of Fresenius SE & Co. KGaA and take the chair in accordance with the articles of association. On behalf of the Supervisory Board and the Management Board, I would like to welcome you, our shareholders, as well as all shareholder representatives, media representatives, and our guests. I welcome also those joining us online. I would additionally like to welcome the representatives from our anchor shareholder, the Else Kröner-Fresenius-Stiftung. It's great to have you here today. 2025 is an anniversary year for Fresenius and the Else Kröner-Fresenius-Stiftung. For Else Kröner, who was born 100 years ago on May 15, 1925. Else Kröner, the foster daughter of company founder Dr.
Eduard Fresenius was instrumental in Fresenius' transformation from a small family business to a leading publicly listed global healthcare group. She guided the fortunes of the company for many decades. In 1983, she founded the Else Krüner Fresenius Stiftung, which has been decisive to advancing medical research and supporting humanitarian projects ever since. Else Krüner's motto was, "If not us, then who?" The sense of responsibility that this expresses aligns with our company ethos. Dear shareholders, similar to last year, we are holding our AGM in person here in Frankfurt. We look forward to discussing and debating with you in person today. My opening remarks and the speech by the Chairman of the Management Board of the general partner, Mr. Michael Sen, will be broadcast publicly on the company website. The contents will also be recorded and made available on the company website after the AGM.
The key statements from the speeches of Mr. Sen were already published on the company website a few days ago, allowing you advanced insights into the topics we will be addressing today. The spoken word has precedence, however. The meeting is being simultaneously translated by interpreters in order to enable all participants to follow the entire meeting in German or English. You will find the necessary devices on the right and left-hand side at the beginning of this meeting room. On channel one, you will listen to the German version. On channel two, you will listen to the English translation. The receivers do not work outside these rooms. Please hand over the receivers after the end of the AGM at the information desk in the foyer. Ladies and gentlemen, we are leaving by interpreters in order to enable all participants to follow the entire meeting in German or English.
You find the necessary equipment to listen to the translation behind you on the left and right side of the entrance to the meeting room. Please turn the receivers to channel one to listen to the German version. Channel two provides the English translation. The receivers do not work outside the presence area. Please return the receivers to the information desk in the entrance hall after the meeting.
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Ladies and gentlemen, we are living in a very special time right now. Certainties that in the past were taken for granted are suddenly called into question. A rapid pace of change and disruptions have far-reaching effects on both technologies and economic and trade relations. The same can be said for the global security architecture, for example.
In times like these, it is all the more important for companies to be robust and adaptable, set a clear course, and follow a clearly defined path. Fresenius is just doing this right. The Future Fresenius program, launched in 2022, sets the direction for our company. The focus on the business of Fresenius Kabi and Fresenius Helios has made Fresenius more focused, simpler, and stronger overall. Fresenius had high ambitions for the 2024 fiscal year and accomplished a great deal. The company achieved strong growth in revenue and earnings and grew profitably and of its own accord in the process. Fresenius, moreover, made good progress on reducing its debt and greatly strengthened its financial base. Financial soundness is the basis for successful business, which is why debt reduction will remain a priority. The company has at the same time become more innovative.
One example is the successful market launch of Tyenne, a biosimilar for treating various inflammatory and immune diseases. It is now on the market in more than 22 countries and has gained significant market shares. Biosimilars make the treatment of patients with immunodeficiency diseases and cancer more accessible and affordable, meaning they are and will remain an important building block in medical care. Ladies and gentlemen, the care that Fresenius Helios provides to 26 million patients annually and the products and services of Fresenius Kabi that touch the lives of almost half a billion people every year mean that Fresenius has reached relevance. The Management Board under the leadership of its Chairman, Michael Sen, and the 176,000 employees can look back with pride on a year of important successes.
On behalf of the Supervisory Board, I would like to thank the Management Board and all employees for their outstanding work. I would also like to thank you, our shareholders, for the trust you have placed in Fresenius. You also benefit from this positive company development. The share price has developed very positively with a 50% increase since the start of 2024 until May 2025. It far outperformed the Stoxx Europe 600 Healthcare, which is the most important benchmark index. Today, the Management Board will propose a dividend of EUR 1 per share for the 2024 fiscal year for your approval. Looking ahead, Fresenius is planning a payout rate of 30-40% based on the net income from continuing operations, that is to say, excluding Fresenius Medical Care and before special items. Ladies and gentlemen, Fresenius is working to expand its role as a leading global healthcare company.
Continuity and stability in our boards will be important for this. The composition of the Supervisory Board we are proposing today reflects this. With their expertise, the Supervisory Board members have helped Fresenius to successfully navigate the transformation. Their continued involvement would ensure that we retain their in-depth knowledge and strategic foresight for the board also in the future. This will, in turn, ensure constructive support for Fresenius in the crucial coming years. At the same time, the nomination of a new candidate reflects our desire to gain new perspectives for the Supervisory Board. Professor Dr. med. Hartmut Kieslich is standing for election today. He is Chairman of the Board of the University Medical Center in Mainz. His extensive experience in managing large private and university hospitals means he would be a valuable addition to the Supervisory Board. Professor Dr.
Med Kieslich will introduce himself briefly personally later on so that you can get to know him. After 14 years in office, Professor Dr. med. Michael Albrecht will not be standing for re-election. Dear Professor Albrecht, thank you very much for your many years of commitment to the Supervisory Board and the valuable expertise you have contributed to the benefit of the company. My sincere thanks also to the members of the Supervisory Board who stepped down since the last AGM for their commitment, Mr. Conrad Kölbel and Mr. Harald Stär. This year, Mr. Alberto Fuente-Saz-Franjanillo joined the board as a representative of the company employees. With today's elections for the Supervisory Board, the employees are also appointing new representatives to the Supervisory Board. Mrs. Frauke Lehmann and Mr. Fuente-Saz-Franjanillo are not standing for the re-election to the Supervisory Board anymore.
I would like to thank them both for their commitment. At the same time, I would like to welcome Mrs. Tania Lara Campagna and Mr. Carsten Georg, who were newly elected to the Supervisory Board by the employees. I look forward to working with you. The composition of the Management Board also stands for continuity. The Supervisory Board renewed the contract of the existing Management Board members, Mr. Pierluigi Antonelli and Mrs. Sara Hennicken, in March 2025 and March 2024, respectively. Mrs. Hennicken, Mr. Antonelli, I wish you continued good fortune and every success. The Supervisory Board looks forward to pursuing our fruitful cooperation. The management team under the leadership of Mr. Sen brings experience, complementary skills, and the necessary team spirit and resolve to the table, all of which are essential for our company's success. Another source of optimism for me is the strong corporate culture.
Fresenius agreed five Fresenius principles last year. These form the basis for a shared understanding of our corporate culture, which is based on mutual respect and appreciation. They describe our self-image for working with one another as well as with customers, partners, and patients, and define our standards of excellence and quality. It is, of course, always about living culture throughout the company. Fresenius is making good progress here. This can be seen in the very high level of satisfaction among patients at the hospitals of Helios in Germany and Quirónsalud in Spain. It can also be seen in us being named an employer of choice in many countries. Ladies and gentlemen, at the start of 2025, Fresenius initiated the next phase of Future Fresenius, Rejuvenate. Rejuvenate has its roots in Latin and means as much as to make young again or modernize.
Fresenius aims to become more innovative and relevant in the coming years and to reach the next level of performance. All this is necessary to remain relevant in the healthcare industry in the future and to answer the question of how our healthcare system can provide patients with the best possible care in times of artificial intelligence, digitalization, demographic changes, and cost pressure. Fresenius can make a significant contribution here. One step to achieving this involves strengthening our core business. That is, Fresenius Kabi's businesses: pharma, MedTech, nutrition, and biopharma, and at Fresenius Helios, Helios Germany, and Quirónsalud. This was one of the reasons why Fresenius began reducing its stake in Fresenius Medical Care from 32.2% to 25% plus one share in March 2025. The proceeds from sale of the shares will be used to further reduce debt and strengthen the operating business.
In addition to strengthening its core business, the second step will involve focus even more on the three growth platforms of biopharma, MedTech, and care provision with a view to scaling potential. This will allow new growth areas to be opened and a higher level of earnings to be achieved. Mr. Sen will share the strategic considerations for the coming years in greater detail in his presentation. Ladies and gentlemen, with Future Fresenius, Fresenius has a coherent strategy that the company will continue to implement consistently and successfully in the interests of all stakeholders. A strong corporate culture underpins this strategy. The well-being of patients is at the core of all of our employees' actions. The Supervisory Board firmly believes that Fresenius fulfills all the requirements to achieve the ambitious goals it has set itself and supports the course that the Management Board is pursuing.
I look forward to the rest of our AGM and to the exchange with you. My sincere thanks to all. With that, I would like to proceed to the formalities of this AGM. In order to streamline the procedure, I would like to announce only the most important regulations and organizational notes. Further details can be found in the information sheet you received at the registration desk. Copies of the information sheet are also available at the information desk in the foyer. First, I would like to state the convening of today's annual general meeting was published in the Federal Gazette on April 9, 2025, in due form and time. All required documents and information have been accessible on the website of Fresenius SE & Co. KGaA since then and also available for inspection today at the information desk in the foyer.
All members of the Supervisory Board of Fresenius SE & Co. KGaA are present. All members of the Management Board of the general partner Fresenius Management SE are present here on the podium. I warmly welcome the members of the Management Board and of the Supervisory Board. I also welcome the notaries, Dr. Carsten Angersbach and Johanna Rothmann. Dr. Angersbach, who is here on the podium, has been commissioned to keep the minutes of the Annual General Meeting. Ms. Rothmann is tasked with recording any statements, written questions, motions, or election nominations. Please note that written questions, motions, or election nominations can only be considered if they are also orally presented again during the AGM. Ms. Rothmann is located at the speaker's registration desk front right from your perspective in the room. We also welcome Dr.
Bernd Röse from PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, who acted as auditor for the 2024 fiscal year and is also attending the annual general meeting in this capacity. Dr. Röse is following the meeting from one of the adjoining rooms. The attendance area includes the entire upper C2 floor of the Congress Center Messe Frankfurt, which is separated by access control as well as the foyer C0 on the ground floor, including the adjoining rooms accessible to the shareholders. The annual general meeting will also be transmitted acoustically into these rooms. You can also follow the simultaneous translation in this area using the receivers. The acoustic transmission and the simultaneous translation are voluntary services so that you can follow the annual general meeting at all times.
However, the company cannot guarantee that the acoustic transmission outside the meeting room will work perfectly at all times, nor can the company guarantee the accuracy of the content or the continuous technical correctness of the simultaneous translation. Please also note that the range of the receivers does not extend into all adjoining rooms. If you see that there is a disturbance of transmission outside the meeting rooms, please return to the meeting room in your own interest. Ladies and gentlemen, an attendance list, as legally required, will be kept for this annual general meeting. The attendance list is currently under preparation. As soon as it is completed, it will be available for inspection at the speaker's registration desk located at the front right in this room, as seen from you. It can also be inspected via the attendance terminal at the information desk. I will announce the initial attendance shortly.
The attendance list will be continuously updated if necessary. The corresponding updates of the attendance list will also be available for inspection at the speaker's registration desk and via the terminal at the information desk. Ladies and gentlemen, your admission tickets were scanned at the registration desk for the purpose of determining attendance. The section of the admission ticket that was returned to you at the registration desk serves as your voting card. If you possess several admission tickets but have not presented all of them, I ask you to do so in good time before the voting starts at the registration desk. Only in this way can the entire shareholding you represent be included in the attendance list and considered during the voting. If you wish to leave the meeting prematurely, please check out at the registration desk.
This applies to the entire duration of the annual general meeting, including after the voting, up until the point when I expressly close this meeting. If you leave the attendance area without checking out at the registration desk, you will still be considered as being present. Even if you temporarily leave the annual general meeting, I ask you to report to the registration desk so that attendance can be correctly determined by scanning your voting cards and de-registering your votes. Upon your return, your voting cards will be scanned again so that your votes are registered again. If you wish to authorize third parties, you can use the proxy form available at the registration desk. You can also issue a power of attorney in another written form. Please hand over the voting cards to the authorized representative. The proxy form must be presented at the registration desk.
The company offers its shareholders the option of being represented by company-appointed proxies. The company's proxies are Mr. Sebastian Schlagwein and Dr. Thomas Richter. They exercise voting rights exclusively according to the instructions given to them. Without clear instructions, the company-appointed proxies cannot act on your behalf. To grant a proxy to the company-appointed proxies, please use the section "Vollmachtweisungen an Stimmrechtsvertreter der Gesellschaft Power of Attorney Instruction to Company Appointed Proxies" on your voting card. There you can issue instructions according to your voting preferences. Please submit the voting card with your instructions at the registration desk. Please note that the possibility to grant proxy and give instructions to the company-appointed proxies ends once the voting starts. Our staff at the registration desk will be happy to assist you with any questions regarding registration as well as granting proxy and giving instructions.
If you wish to leave the annual general meeting and do not want to grant a proxy, please submit your voting cards at the registration desk so that the attendance list can be updated. Ladies and gentlemen, as already mentioned at the beginning, you have the opportunity today to speak, either to make a statement or to ask questions or submit motions. I will now explain the key points both for the content of your contributions and for the formal process in which we will conduct and handle the debate today. First, regarding the contents, please speak only on the agenda items and, if applicable, on the rules of procedure. Also, I kindly ask you to keep your remarks reasonably brief. As the meeting Chairman, I should ensure a lawful and proper conduct of the general meeting.
This also includes the formal right to reasonably limit the time for questions and speeches, if I deem this necessary during the course of the meeting, especially considering the number of outstanding requests to speak. We will conduct today's discussion as a general debate. You thus have the opportunity to speak on all agenda items and do not need to register separately for each agenda item. Now, some details about the procedure for requesting to speak and handling the discussion. I ask those shareholders or the representatives who wish to speak to register their intention to speak as early as possible at the speaker's registration desk. To ensure an orderly meeting, I will only give the floor to shareholders and shareholder representatives who have registered their speech at the registration desk.
If you wish to submit motions regarding procedure, that is, motions on the rules of procedure, please indicate this when registering your speech. This will allow me to determine how to handle the motion, in particular whether the motion proposer should be given priority to speak. Those who have registered to speak will be invited during the discussion on the agenda to make their remarks at the lectern located to the right of the podium. Once I have given you the floor, please start speaking. If you wish to speak again, please register another request to speak at the registration desk. For the sake of order, I point out that we will neither record speeches nor questions or answers. Your questions and motions will only be recorded stenographically to ensure appropriate responses and handling. The cameras installed serve to project onto the screen and into the back office.
Respective speakers will therefore be shown prominently on the screen during their speech. If, as a speaker, you do not wish this, please let us know. Mr. Sen's speech will be simultaneously streamed online to keep the financial market informed. Furthermore, a photographer commissioned by us will take photos during the general meeting for documentation and communication purposes. Your personal rights will be fully respected in this respect. I ask for your understanding that participants in the general meeting are not permitted to make video or sound recordings. This also applies to camera and audio recordings with mobile phones. On this occasion, I ask you to mute your mobile phones during your time in the meeting room. Please also note that smoking is not permitted in this building.
Ladies and gentlemen, I note that two counter-motions requiring disclosure have been received by the company and have been published on the website. Ladies and gentlemen, we will now proceed to the agenda items. First, I will explain the individual agenda items. In this context, Mr. Sen will report on the situation of the company, and I will explain the Supervisory Board's report in more detail. This will be followed by the debate and answers to the questions submitted. Following this, we will vote on the individual agenda items in one go. We will start with agenda item one. This concerns the presentation of the annual financial statement and consolidated financial statement approved by the Supervisory Board, the management reports for Fresenius SE & Co. KGaA, and the group, as well as the Supervisory Board's report for the 2024 fiscal year.
Finally, it includes the resolution on the approval of the annual financial statements of Fresenius SE & Co. KGaA for the 2024 fiscal year. As already mentioned, these documents have been available on the company's website since the convocation of the general meeting and are also available today at the information desk in the foyer for inspection. You will also find there the explanatory report of the general partner on the information pursuant to sections 289A and 315A of the German Commercial Code. I may therefore assume that all documents are familiar to you. Each one has been received by the notary Dr. Angersbach. Before Mr. Sen explains the proposals for agenda item one and comments on the outlook for the current fiscal year, let us briefly look at what Fresenius means for colleagues from all over the world. Have fun.
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[Foreign language]. The team members that I work with every day. [Foreign language] . Committed. [Foreign language] Unique. Focus on success. [Foreign language] [Foreign language] . Family. [Foreign language] I'm Magda. Soy Andrea Ramírez. I am Clara. I'm Philip. I am Ifia. I'm Altay Alexander. I'm Jessica. Ich bin ich. Ja, vielen Dank.
Thank you, dear Mr. Kirsch. Vielen Dank, lieber Herr Kirsch. Thank you, dear Mr. Kirsch, dear shareholders, ladies and gentlemen. Welcome to the Fresenius annual general meeting. As you just saw in the film, our colleagues from all over the world answered two exciting questions. How would you describe Fresenius? And what made you smile today? I would like to answer this question too. My answer to the first question is: We save and improve people's lives.
My answer to the second question today is that we can look back together on a successful financial year, and we would like to take that momentum with us into the new business year. That makes me smile, especially when I think about where we started in 2022 with our program, Future Fresenius. Today, two and a half years later, we are better in all respects. In 2024, we even accelerated growth. We have grown significantly in terms of revenue and earnings. The figures are excellent. Revenue before special items rose by 8% organically to EUR 21.5 billion. EBIT, also before special items and in constant currency, rose by 10% to EUR 2.5 billion. Let me underline, we did that from our own resources because all our business segments gave their contribution. We have increased productivity, and this has benefited our competitiveness.
We have significantly reduced our debt for the first time since seven years. We are within our self-imposed target corridor for leverage. To EBITDA, we want to further improve this figure. The ratio of net debt to EBITDA should be reduced the net debt by around EUR 2 billion. Because we did so, the new target corridor is now between 2.5-3.0. Very ambitious goal, even more ambitious. This also is a message to you, dear shareholders. Debt reduction remains a top priority. A lower level of debt and a lower interest burden create new options for us. Cash is king. For us, that's not just a phrase. It is a guideline. We have made great progress here with cash flow. In 2024, our operating cash flow was EUR 2.4 billion.
This will remain a focus of our work in the future. More cash means a stronger balance sheet. In 2024, we outperformed our own expectations. We raised our outlook twice, and we've delivered nonetheless. That's far from a given in today's world, especially if we compare it to other companies and sectors. Many people are now in a crisis mode. As our Supervisory Board Chairman, Wolfgang Kirsch, already said, we are anchoring a strong corporate culture in our company. Our five Fresenius principles put it in a nutshell in a couple of sentences. This is how we engage with our partners, our customers, and our patients. The way where we acknowledge and cherish this culture and this contact. This culture is now part of everyday life. It is also recognized outside of Fresenius.
Our hospitals in Germany and Spain rank among the best when we talk about patient satisfaction. Our clinics in Germany and Spain rank among the best, and key customers have recognized us as a top supplier. We are a leading employer in many countries, from China to the US. As a healthcare company, we are working in an industry where it is all about improving people's lives. At the same time, there is a shortage of skilled workers in our industry. We must therefore remain being an employer of choice. It's the only way to attract and retain top talent. We offer training and further education on the highest level. With almost 7,000 trainees and dual study students, we are one of the largest private training providers in Germany. Fresenius is a top destination. People take notice. The capital market also recognizes our success.
The share price is moving in the right direction. Upwards, of course. Let us look at the launch of Future Fresenius in October 2022 and May 2025. Up to May 7, 2025, our share price has doubled. It is well ahead of the comparable index, that's the Stoxx Europe 600 Healthcare. Dear shareholders, I would like to thank you for your trust. Our transformation will take time. It will take several years. I would therefore also like to thank you for your patience. We would like to reward your loyalty to our company. Today, we are proposing an attractive dividend of EUR 1 per share for 2024. Fresenius has defined a new dividend policy this year. This should bring you attractive returns. At the same time, it offers Fresenius strategic flexibility.
Fresenius will pay out 30-40% of its group core net income, excluding Fresenius Medical Care and before special items as dividend. Ladies and gentlemen, 2024 was a very successful year for us. How come? 176,000 colleagues worldwide did a great job. They worked hard every day for our companies, for our patients, customers, and partners. I think every day they did their very best. I think this achievement of Team Fresenius worldwide deserves a big round of applause. [Foreign language] . Thank you all on behalf of all our colleagues. This momentum was carried into the new business year. We have got off to a flying start. Our strong first quarter results speak for themselves. Organic revenue grew by 7%, and earnings per share rose by 12% in constant currency, excluding again Fresenius Medical Care.
We confirmed our full year outlook with currently visible global risk already factored in. Everybody talks about tariffs and other uncertainties worldwide. For us, we have these geopolitical risks that are already factored in. You may ask yourselves, how do you stay on course in this current geopolitical climate? We are implementing Future Fresenius consistently. We are focusing on what we can influence. We strengthen our business and care for millions of patients. That is why I am confident that Fresenius will continue to be successful in the future. Future Fresenius has improved our adaptability. We can now react quickly to changes, or better, we still can anticipate developments and adapt to them. It is essential and vital for healthcare systems worldwide in our work, either with our clinics or with our products. Patient care would not be possible without our products and clinics. We keep the system running.
Local for local. With local for local, we have a strategy that brings us close to our customers. That's the right strategy. Local for local means in Europe, for Europe. In Asia, for Asia. In the US, for the US. In other words, high local added value. Plants and jobs on site in the countries. The US is the world's largest healthcare market. We are relevant in the United States. 70% of our generics are on the FDA's list of essential medicines in the US. We are therefore contributing to the security of supply in a country where there is a chronic shortage of medicines. In recent years, we have invested around $1 billion in production and logistics in the US. Around 70% of the medicines we sell in the US are also manufactured there. We have more than 4,000 employees in the US.
Due to this commitment in the sites, we have a local and therefore strategic advantage over most of our competitors. Many of them produce outside the U.S. We will continue to invest in this important market. Currently, President Trump is aiming to significantly reduce medication and drug prices in the country. It is helpful to look at the facts. As a manufacturer of generic drugs, we are not the cost driver in the healthcare system. On the contrary, at the same time, the U.S. government is investigating whether import duties should be imposed on pharmaceutical products. Are we immune to tariffs? No. Do we have the resilience to keep the impact as low as possible? Yes. Here, our hospital business in Europe, Helios and Quirónsalud, help us. They are businesses largely without currency and customs risks, but they have a stable margin.
In order to be flexible and adaptable worldwide, we do not only rely on a local presence, but also on a multi-sourcing aspect. In other words, diversified supply channels and a global production network. Just last fall, we experienced how important this is. Back then, production stoppages led to a situation that irrigation and infusion solutions had a bottleneck in Germany. That sounds harmless at first, but it can lead to a system collapse because without these solutions, you can shut down a hospital operation. No more surgery can happen. We have helped to close this supply gap. And why? Because we have sent volumes to where there were bottlenecks. We have activated the global network. This is yet another reason why we are at the table when government representatives talk about the security of supply in the medical sector and the health sector.
Ladies and gentlemen, Fresenius today is simpler, more focused, and stronger. It is better able to adapt to a new normal. While we are focused on six businesses, you can see it in day-to-day business and in this structure here on the chart. We have six operational businesses, all of them profitable, relevant, and essential to the healthcare provision of millions of patients. They are transparent and benchmarked against the best. With our products and services from Fresenius Kabi, we support patients in critical moments, whether in the emergency room, the operating theater, or the intensive care unit. We hold strong market positions across all four of Fresenius Kabi's business areas. We are expanding our generics business, being a very robust business. Last year, we added to our portfolio in Europe Lacosamide, a generic drug for the treatment of epilepsy in intensive care medicine, and Tiotepa, a cancer drug.
We are speeding up, bringing high-quality generics to the market and expanding at the same time our production of infusion and irrigation solutions here in Europe, very relevant for the system. Nutrition, enteral and parenteral nutrition in hospitals is a growing and attractive business. We are continuing to develop our portfolio. For example, with Petit Trace Novum in Europe, that's the parenteral micronutrient solution for children, is new in Europe. We have also introduced important new products in China. These are just a few examples. MedTech, medical technology. We have a broad range of infusion and nutrition systems, transfusion medicine, and cell therapies on the market. The ramp-up of our smart infusion pump system, Ivenix, in the U.S. is developing well. Ivenix has the potential to be a game changer in the market. As with all innovations, it takes time, and we are using this time to learn.
In 2024, we've signed contracts for more than 20,000 Ivenix pump systems. Ivenix is a pump with a touchscreen, just like a smartphone. It is smart because it can be integrated into hospitals' information systems. We do not just sell a pump system. We are also building up an attractive software business. Finally, biopharma, one of the areas with the highest growth in the healthcare industry, especially when we talk about cancer and autoimmune diseases, biosimilars are very important. Expensive treatments are now cheaper and more accessible. Let me allow one comment. In the field of biosimilars, Europe has a big lead over the U.S. A leading position we should protect and ideally expand. With the acquisition of a majority stake in MapScience, we are very well positioned because MapScience is a high-performance development and production platform.
That's important because competition is also increasing for biosimilars, and the cost structure and manufacturing capacities make all the difference. We have seven biosimilars on the market this year and in the years ahead. We will continue to fill this pipeline. One product stands out, Tyenne. Tyenne is the first tocilizumab biosimilar for the treatment of various inflammatory and immune diseases. It is available in more than 20 countries, including Germany and the U.S. We are very happy to announce that our market shares are increasing on a steady basis. We would like to increase revenue in our biopharma business from around EUR 600 million to over the EUR 1 billion threshold in the midterm. We are very satisfied with the improvement of the margin. Last year, biopharma made a positive contribution to earnings for the first time.
In the meantime, the business is close to Kabi's structural EBIT margin band from 16-18%. That's a huge lift. Biopharma has moved beyond the investment phase and reached commercial maturity. Now to Fresenius Helios. Fresenius Helios is expanding its role as Europe's leading private hospital provider. Fresenius Helios comprises two business segments, Helios Germany and Quirónsalud in Spain. That's more than 140 hospitals, around 350 medical care centers, and around 26 million patients treated per year. As for Helios Germany, we outperform the national average on more than 90% of our medical targets. We are better than the German average. That shows that we have a strong team performance. Helios is a pioneer when it comes to transparency and quality and recognized early on that forming a medical cluster makes sense. It's the only way to improve both efficiency and quality.
We launched a performance program this year to strengthen Helios Germany. As you know, the so-called energy subsidies in Germany expired at the start of the year. To offset, we've implemented a series of measures, including the expansion of medical clusters, the improved management of emergency care, the consolidated procurement, and a more unified IT infrastructure. With this program, we aim to achieve an EBIT improvement of EUR 100 million this year. Most of the earnings contribution is expected in the second half of the year and in the next financial year. Quirónsalud is expanding its position as a digital pioneer in Spain and in Europe, bringing artificial intelligence into clinical practice. This strengthens medical quality across the board. CasioPaya is the name of our digital hospital ecosystem we've developed ourselves. It includes a patient portal that connects doctors, nurses, and patients.
Through the portal, patients can register online. They book appointments for. They can access their test results and consult with their physicians or the nursing staff. One year ago, I shared the fact that CasioPaya had 6 million users. Today, it's almost 8 million users. CasioPaya is not only a portal for patients and doctors, but integrating data and AI, doctors are less burdened with administrative tasks. On average, it takes several hours a day. We make better use of this time at Quirónsalud in the interest of the team and the patients. Quirónsalud is not only at the forefront of digitalization and quality. Our Spanish hospital business reliably delivers high margins. Ladies and gentlemen, digitalization, robotics, and AI are increasingly becoming natural companions in everyday clinical practice. Let's have a look at a real-life example. You all know this. You visit your doctor.
You're sitting across your doctor, and they're typing notes on their computers. Maybe they glance at you briefly. They look at their screens. Ladies and gentlemen, one can do that much better. We have a specialized speech recognition software. It is called Scribe, like writing something down. How does it work? Doctors and patients sit across from one another without a screen as a barrier of communication. There's a tablet on the table. The software records your conversation. It goes beyond the technology for simple voice recording because artificial intelligence now comes into play. Scribe is an intelligent AI-based dictation device for medical settings. It transcribes a doctor-patient conversation and interprets it. It is familiar with medical terminology and recognizes key information to complete the medical history. At the end of the conversation and consultation, it automatically generates a clinical report.
Since Scribe is part of the clinical information system, it can also form the basis for further actions such as lab tests, appointments for like an MRT, or medication and prescriptions. The charming thing is that doctor and patient can truly focus on each other. They listen to one another. Jointly, they review the clinical report that was generated automatically and approve it. AI thus ensures greater efficiency and quality, as well as trust and more humanity in medicine. Scribe has already been used to record more than 500,000 conversations in our hospitals and translated it into clinical reports. Our doctors and patients have had very good experiences with precisely this technology. Ladies and gentlemen, innovation is making our businesses stronger. It drives both profitability and growth.
When we look at the contribution of each business segment to total earnings from 2022 to 2024, the figures show Fresenius as a whole is becoming more profitable. We have a very strong and stable hospital business contributing around half of total earnings. It delivers attractive and stable margins. There is pharma. Our generics business is robust and relevant. It offers attractive margins and generates strong cash flow. Finally, our three growth vectors: biopharma, nutrition, and MedTech. Their share of EBIT is steadily increasing over the last years. This confirms that our strategy works out. High-growth businesses are making an increasing contribution to overall profitability, and they are becoming increasingly important to us. Ladies and gentlemen, the aim of Future Fresenius is to make Fresenius a leading company in every respect. Our program consists of four phases. During the reset phase, we repositioned Fresenius.
In the revitalized phase, we made Fresenius simpler, more focused, and stronger. The first two phases were a success. At the start of the new financial year, we launched phase three, Rejuvenate. We are thus preparing phase four, let's reimagine. The goal of which is to firmly position Fresenius among the very best. Rejuvenate means modernizing, energizing. Our plan is to upgrade our core businesses and strengthen them. On top of this, we have the three platforms on top: biopharma, MedTech, and care provision. They will be scaled. We are therefore focusing much more on innovation and growth. You will also benefit from this as a shareholder because this will help us to reach a higher performance level. Rejuvenate is set to run for several years. We have made a dynamic start. In March, the sale of shares in Fresenius Medical Care was the first major milestone.
This strategic step shows that we are creating long-term value. The proceeds from the sale of shares will improve our balance sheet and also our innovative strength. Upgrading our core means doing what we have been doing and doing it even better. We are taking it up a notch. We will grow profitably at a good level. However, we think that Fresenius is ready for more. We have to be ready for more. Healthcare systems worldwide are more and more under pressure. We see three major gaps. People are getting older. Chronic diseases are becoming more common. Healthcare systems have to prepare for that. The lack of medical staff will increase up to 2030. The world will face a shortfall of 10 million skilled workers. Strategic workforce development will become a critical issue for companies. Already, more than 10% of global GDP is spent on healthcare.
Health systems are expensive and often too inefficient. We need to become more efficient in our systems. In order to handle these three tasks, we need the latest generation of affordable medication for critical and chronic diseases. Nutrition, clinical nutrition tailored to medical needs. Precise connected medical technology. A digital ecosystem with strong partners and companies that are attractive employers for medical staff. As you can see, I am describing the possible contribution from Fresenius, and we need more than just an upgraded core. This is where our platforms come into play. As we move forward with Rejuvenate, we are focusing on scaling our three strategic platforms. First, biopharma and pharma. We aim to bring the latest generation of molecules and products to market quickly. That is why we are investing in our development and product pipelines in biopharma, pharma, and clinical nutrition.
In all three areas, we see that innovation is the key differentiator. Second, MedTech. It's all about expansion. We are strategically growing our MedTech business and integrated more closely to emergency care and surgical theater, helping patients when it matters most in critical situations. Third, care provision. Our hospital business. Digitalization is crucial, especially in combination with AI. We want to harness these opportunities even more effectively at Helios. Ladies and gentlemen, we are upgrading our core. We are scaling our platforms, and we are investing in modern facilities, in expanding our manufacturing capacities, purchasing licensing agreements, new molecules and products across generics, biosimilars, nutrition over the coming years. We are investing in the digitalization of our hospitals and in building a digital ecosystem. This is especially important for me. We are investing in our people. We are investing in Fresenius. Our businesses are performing well.
We operate in growing markets, and by continuing to invest, we create more value. At the same time, we remain financially disciplined with a solid balance sheet and strong fundamentals. That is the foundation for our success, and this will elevate our performance. Ladies and gentlemen, Rejuvenate is our training camp for the Champions League. That is where we want to be. We want to win the title of the leading healthcare company and then defend it. To achieve all this, we need conditions reflecting the importance of the healthcare sector, including here in our home market. A new chapter is beginning in Germany with a new government. It must bring direction and momentum. A little bit of optimism would be good for all of us. We need to get Germany's economic turnaround on track. Healthcare can make a major contribution.
For far too long, it's been seen as a cost factor in the social system and not as a driver of prosperity, innovation, and jobs. The numbers speak for themselves. Healthcare accounts for 11.5% of Germany's GDP. Over the past 10 years, it has grown at an average rate of 3.9% per year. Almost one in five jobs in Germany is in healthcare. More than 8 million people. The new government has rightly recognized this. Healthcare is a leading industry, and it needs a well-conceived industrial strategy. One important aspect will be to build up production of critical drugs and medical products in Germany and Europe, and to accompany this with targeted funding instruments. This is a matter of national security and national sovereignty. The topic of medical care. Hospital reform is coming. It's good that funding from the Special Infrastructure Fund is planned to do this.
Hospitals are, after all, critical infrastructure. The healthcare system is going digital. The planned digitalization push can boost efficiency, especially if it's paired with a meaningful data protection reform. We must break down the barriers between inpatient and outpatient care. Far too often, information is lost along the way because stakeholders aren't sharing data with one another. That's inefficient, and it hurts patients at the end of the day. We need a connected digital health ecosystem. The government plans to reduce bureaucracy and red tape. The proposed Bureaucracy Relief Act in healthcare and the elimination of unnecessary reporting requirements are steps, I think, in the right direction. Just one hour less paperwork per day would help a lot in everyday hospital life. Ladies and gentlemen, healthcare industry is a driver of prosperity, and it serves national security. Germany can once again become the pharmacy of the world.
In order to do so, we have to do something and speed up. Ladies and gentlemen, more than 100 years ago, Fresenius emerged from Hirsch Pharmacy in Frankfurt. She was the foster daughter of company founder Dr. Eduard Fresenius. With determination and a smart strategic decision, she succeeded in working together with her team to transform a small business into a global healthcare enterprise. Times were certainly not easy in the post-war world, not easier than they are today. This year, Else Kröner would have turned 100 years old. She coined the phrase, "Always forwards with big plans." She implemented big plans. She looked ahead into the future, and she handed over a better company to the next generation. With Future Fresenius, we want to add another successful chapter to the company's history, and we have big plans too.
On behalf of the Management Board, I would like to thank all members of the Supervisory Board, especially its chairman, Mr. Kirsch, for the trustful cooperation. This also applies to the representatives of the Else Kröner-Fresenius-Stiftung. Thank you for your trust that you've placed in us. Thank you to you, our valued, dear shareholders. Thank you for your interest in Fresenius, and I look forward to our exchange over the course of today's Annual General Meeting. Thank you very much.