June 8, 2017 / 9:23 AM / 2 months ago

Fresenius Medical launches cost savings programme

FRANKFURT, June 8 (Reuters) - German kidney dialysis specialist Fresenius Medical Care on Thursday said it was targeting up to 200 million euros ($225 million) in annual cost savings from 2020 as part of a new efficiency drive.

A cost cutting programme dubbed "Global Efficiency Program II" will begin next year, targeting savings of between 100 and 200 million euros per annum by 2020.

The group, which is holding an investor event at its headquarters in Bad Homburg, Germany, reaffirmed its target for net income to increase at a high single-digit percentage growth rate per year, until 2020, and for sales to increase by about 10 percent per year over that period. ($1 = 0.8894 euros) (Reporting by Ludwig Burger; Editing by Edward Taylor)

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