Fresenius Medical Care
Fresenius Medical Care AG & Co.
A major contributor to this section appears to have a close connection with its subject. (May 2023) |
KGaA is a German healthcare company which provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives.
Wiki English | |
| Company type | KGaA with Aktiengesellschaft as partner with unlimited liability |
|---|---|
| FWB: FME FWB: FMEA (ADR) OTC Pink Current: FMCQF NYSE: FMS (ADR) MDAX component (FME) | |
| ISIN | DE0005785802 US3580291066 |
| Industry | Health care |
| Founded | 1996 |
| Headquarters | Bad Homburg vor der Höhe, Germany |
Key people | Helen Giza (CEO, Chair of the management board and acting CFO) Dieter Schenk (Chairman of the supervisory board) |
| Products | Dialysis products and services, Therapeutic Apheresis Products |
| Revenue | €19.40 billion (2022) |
| €1.51 billion (2022) | |
| €0.67 billion (2022) | |
| Total assets | €34,367 million (2021) |
| Total equity | €13,979 million (2021) |
| Owner | Fresenius (32%) |
Number of employees | 128,000 (2022) |
| Website | www |
| Footnotes / references | |
With a global headquarters in Bad Homburg vor der Höhe, Germany, and a North American headquarters in Waltham, Massachusetts, it has a 38% market share of the dialysis market in the United States. It also operates 42 production sites, the largest of which are in the U.S., Germany, and Japan.
The company is 32% owned by Fresenius and, as of 2020, generates around 50% of the group's revenue.
The company is on the Best Employers List published by Forbes.
History
In 1996, Fresenius SE & Co. KGaA merged its dialysis business into W.R. Grace's National Medical Care to form Fresenius Medical Care.
In 2000, the company pleaded guilty to billing Medicare for unnecessary medical tests and to paying kickbacks for lab business and paid a $486 million fine.
In February 2012, the company acquired Liberty Dialysis Holding, which added 201 clinics, for $1.5 billion.
In March 2012, Rice Powell was appointed CEO.
In 2013, the company acquired Shiel Medical Laboratory, expanding services to New York City metro area. In December 2017, the company sold this business to Quest Diagnostics.
In February 2019, the company acquired NxStage, a U.S.-based maker of in-home dialysis devices, for $2 billion.
In March 2019, the company paid $231 million to the United States Department of Justice and the U.S. Securities and Exchange Commission to settle allegations of civil bribery to obtain business in 13 countries, including Angola, Saudi Arabia, Morocco, and Spain. As part of the settlement the company agreed to retain an independent corporate compliance monitor for at least two years. In March 2023, the company was certified by the monitor that its compliance program is reasonably designed and implemented to detect and prevent violations of the U.S. Foreign Corrupt Practices Act (FCPA). The certification was accepted by the U.S. Securities and Exchange Commission and the United States Department of Justice.
References
External links
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