Fresenius Medical Care

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Fresenius Medical Care AG & Co. KGaA
Kommanditgesellschaft auf Aktien with Aktiengesellschaft as partner with unlimited liability
Traded asFWBFME
NYSEFMS
IndustryHealth care
Founded1996
HeadquartersBad Homburg, Germany
Key people
Rice Powell (CEO and Chairman of the executive board), Michael Brosnan (CFO), Harry de Wit (Chief Executive Officer for Asia-Pacific), Dr. Katarzyna Mazur-Hofsäß (Chief Executive Officer for Europe, Middle East and Africa), Kent Wanzek (Chief Executive Officer for Global Manufacturing and Quality), William Valle (Chief Executive Officer for North America), Dr. Olaf Schermeier (Chief Executive Officer for Global Research and Development), Dr. Dieter Schenk (Chairman of the supervisory board)
ProductsKidney dialysis products and services, Therapuetic Aphoresis Products
Revenue EUR €17.7 billion (2017)[1]
EUR €2,362 million (2017)[1]
EUR €1,280 million (2017)[1]
Total assetsEUR €24.025 billion (end 2017)[1]
Total equityEUR €10.828 billion (end 2017)[1]
Number of employees
114,000 (FTE, end 2017)[2]
Websitewww.freseniusmedicalcare.com

Fresenius Medical Care is a German company specializing in the production of medical supplies, primarily to facilitate or aid renal dialysis. It is 30% owned by the health care company Fresenius.[3]

Manufacturing[edit]

Fresenius Medical Care operates more than 40 production sites on all continents.[citation needed] Its largest plants in terms of production output are in the U.S. (Ogden, Utah, and Concord, California), Germany (Schweinfurt and St. Wendel), and Japan (Buzen). These plants are categorized as large and small with 25 large facilities and 15 small ones worldwide which cater to local demand for dialysis products.[4]

On 30 October 2006, the manufacturing facility (Fresenius Hemocare) in Redmond, Washington was shut down. Fresenius Hemocare has stopped going by the name Fresenius Hemocare and now goes by the name Fresenius-Kabi LLC. The closing of one of two entities inside of Hemocare allowed for the name change and takes Hemocare from the Medical Care group to the Kabi group.[citation needed]

UK Dialysis Units[edit]

Fresenius Medical Care Renal Services Limited runs 54 dialysis units across England[5] and more across Wales. In September 2014 new renal dialysis units run by Fresenius were opened at Withybush General Hospital and West Wales General Hospital, with a contract to run for at least 7 years.[6]

Acquisitions[edit]

In 2012, Fresenius acquired Liberty Dialysis Holdings, in a deal which entailed the sale of its outpatient dialysis clinics in 43 local markets within the U.S.

In 2013, Fresenius Medical Care NA acquired Shiel Medical Laboratory Inc, expanding services to New York City metro area. In September 2017 the company announced the divestment of the business of Shiel Medical Laboratory, Inc. to Quest Diagnostics, Inc.[7] On December 12, 2017 Fresenius Medical Care reported the closing of this divestment.[8]

In August 2017, Fresenius signed an agreement to acquire NxStage Medical, a medical device manufacturer based in Lawrence, Massachusetts for a reported $2 billion.[9]

Legal Problems

Fresenius Medical Care AG, has agreed to pay the US about $231 million to resolve civil and criminal allegations of bribery, the US Justice Department said Friday. The company has been accused of paying off health and government officials in various countries to retain business there. Nearly $85 million is to be paid in exchange for the justice department not pressing criminal charges, while the other $147 million will go to settle civil charges for the Securities and Exchange Commission. The company’s misconduct has allegedly affected 13 countries and netted it some $140 million illegally.

References[edit]

  1. ^ a b c d e "Fresenius Medical Care achieves record results in 2017". Fresenius Medical Care. 26 February 2018. Retrieved 7 September 2018.
  2. ^ https://www.freseniusmedicalcare.com/en/investors/operating-figures/
  3. ^ Fresenius Medical Care. "Shareholder structure". Retrieved 2017-01-31.
  4. ^ KGaA, Fresenius Medical Care AG & Co. "Operations and Strategy < Annual Report 2012 - Fresenius Medical Care AG & Co. KGaA". reports.fmc-ag.com.
  5. ^ "Provider: Fresenius Medical Care Renal Services Limited". Care Quality Commission. Retrieved 27 September 2014.
  6. ^ "Date finally set for opening of Withybush Hospital's multi-million pound dialysis unit". Milford & West Wales Mercury. 8 September 2014. Retrieved 27 September 2014.
  7. ^ https://www.freseniusmedicalcare.com/en/media/news/details/detail/News/fresenius-medical-care-divests-shiel-medical-laboratory-to-quest-diagnostics/
  8. ^ https://www.freseniusmedicalcare.com/en/media/news/details/detail/News/fresenius-medical-care-closes-divestment-of-shiel-medical-laboratory-to-quest-diagnostics/
  9. ^ Stendahl, Max (2017-08-07). "Why NxStage's CEO 'feels really good' about selling his medical device firm". Boston Business Journal. Retrieved 2017-08-07.

10. https://www.reuters.com/article/us-fresenius-care-justice-corruption/fresenius-medical-care-to-pay-231-million-to-resolve-criminal-civil-foreign-bribery-charges-idUSKCN1RA1X7

External links[edit]