Shares in Fresenius SE fell by 3.1% early Wednesday after the German healthcare group forecast a 2023 fall in profit partly due to plans to cede strategic control over dialysis group Fresenius Medical Care (FMC).

Shares in FMC were up by 5.6%.

Fresenius said on Tuesday it expected 2023 earnings before interest, taxes (EBIT) and special items to come in between flat and down by a "high-single-digit" percentage, when adjusted for currency changes, after 2022 adjusted EBIT declined 6% to 4 billion euros ($4.3 billion).

The announcement came after Elliott Investment Management took a stake in Fresenius last year, sparking speculation the activist investor might push for a break-up of the company. (Writing by Rachel More, Editing by Miranda Murray)