Success Stories

Fresenius Medical Care

Multiple Offices
Cresa Boston
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Client Objectives

Cresa and Fresenius Medical Care North America, a public company headquartered in Waltham, MA (“Fresenius”), developed a strategic partner’s relationship in 2008 for the delivery of Corporate Real Estate Services.  Fresenius occupies approximately 1,800 dialysis clinics in North America. In 2009 under a CEO-led initiative Fresenius established a goal to reduce its occupancy cost by $25 million within 9 months, engaging Cresa exclusively for this initiative. In late 2009, Fresenius and Cresa expanded its strategic partner relationship as their exclusive service provider for two of Fresenius Medical Services’ largest divisions.

Results

  • Early Lease Renewal Initiative - $38.8 Million Reduction in Occupancy Costs Achieved - Cresa evaluated 500 dialysis clinic leases in 2009-2010 and successfully restructured 200 clinic leases which delivered P&L savings of $38.8 million in total occupancy costs for this initiative, surpassing Fresenius’ goal.
  • Lease Renewal Program - $38 Million Reduction in Occupancy Costs Achieved in 2009-2011 - Cresa provided Transaction Management Services for lease extension negotiations on 305 dialysis clinics over 2009-2011, and successfully achieved P&L savings of $38 million in total occupancy costs.
  • Best Practice Modeling - Cresa collaborated with Fresenius’ national Corporate Real Estate team to develop a customized, national best practice model, streamlining project implementation and delivery, process flow, reporting, approvals and project controls.
  • Lease Transaction Procedures Handbook - Cresa developed for Fresenius’ national Corporate Real Estate team a comprehensive Lease Transactions Procedures Manual custom-tailored for Fresenius encompassing Fresenius’ project process/procedures life-cycle.
  • Senior Leadership Recognition - Cresa delivery model contributed to Fresenius Senior Leadership recognition of Fresenius Corporate Real Estate’s team achievements in occupancy cost savings, productivity and process compliance improvements.

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