🠈  Fresenius Medical Care  🠊

Fresenius Medical Care

Fresenius is a company based in Bad Homburg vor der Höhe, Germany that operates hospitals and provides related medical services. They own 30% of Fresenius Medical Care which is a leading provider of kidney dialysis and related renal services. FMS has headquarters in Bad Homburg vor der Höhe and Waltham, Massachusetts. The page FreseniusKidneyCare.com/dialysis-centers lets you search for local clinics.

Fresenius trades on the Frankfort Stock Exchange with the symbol FRE. Fresenius Medical Care trades on the NYSE with the symbol FMS.

The first video is about the problems facing dialysis patients after Katrina. The second video talks about the steps Fresenius is not taking to assure that they have the power and resources to treat patients.

This video talks about their new disaster recovery program.

Corporate History

Although these are separate companies, in this timeline I will treat FMS as a subsidiary of FRE.^1,2

• 1912: Eduard Fresenius acquired Hirsch Pharmacy which was founded in 1462 and retained the name.²
• 1933: The company moved its production facility to Bad Homburg witht he Fresenius name.
• 1946: Else Kröner, the foster-daughter of the founder, inherited the company. Else Kröner rescued the company from significant debts by laying off the majority of staff and restructuring the business.
• 1966: Fresenius began selling dialysis machines.
• 1982: Fresenius became a joint stock company.
• 1986: Fresenius began trading on the Frankfurt Stock Exchange.
• 1988: Kröner's left her estate to the Else Kröner-Fresenius-Foundation which engages in medical research.
• 1996: Fresenius dialysis business merged with National Medical Care to create Fresenius Medical Care.
• 1999: Fresenius acquired the nutrition business of Pharmacia & Upjohn to create Fresenius Kabi.
• 2000: FMS paid a $486 million fine to Medicaid for unnecessary medical tests.
• 2001: Fresenius acquired Wittgensteiner Kliniken which operates hospitals in Germany.
• 2005: Fresenius acquired Helios.
• 2005: Fresenius Kabi AG acquired Laboratório de Especialidades Farmacêuticas Almiro S.A..
• 2006: Fresenius acquired Renal Care Group for $3.5 billion^5,6

  History of Renal Care Group

  Renal Care Group was created to consolidate the dialysis industry. It grew primarily through mergers. I drew the partial list of mergers from Funding Universe.⁵

  • 1995: Renal Care Group was formed in 1995 to consolidate the rapidly expanding dialysis industry with the merging of Kidney Care, Inc., Medical Enterprises Ltd., D.M.N. Professional Corporation, Tyler Nephrology Associates, and Kansas Nephrology Association.
  • 1996: The company raised $64 million with an IPO on the NYSE with the symbol RCI.
  • 1997: RCI acquired 7 centers in Indiana and facilities in NJ.
  • 1997: RCI acquired Bay Area Dialysis Services of Corpus Christi which had 6 centers.
  • 1999: RCI acquired Dialysis Centers of America based in Illinois.
  • 2003: RCI acquired Midwest Kidney Centers which had 14 centers and 850 patients.
  • 2003: RCI acquired National Nephrology Associates for $345 million. They had 87 centers with 5,600 patients.
• 2006: The Helios Kliniken division of Fresenius acquired a majority stake in Humaine Kliniken which operates 6 post acute care hospitals.
• 2007: Fresenius converted from an Aktiengesellschaft to a Societas Europaea company.
• 2008: Fresenius Kabi acquired 73.3% of Dabur Pharma of India.
• 2008: Fresenius Kabi acquired APP Pharmaceuticals, Inc.
• 2011: Fresenius converted to a Kommanditgesellschaft auf Aktien (KGaA) company.
• 2012: FMS acquired Liberty Dialysis Holding for $1.5 billion. Liberty had 201 clinics.

  History of Liberty Dialysis

  • 2010: Liberty acquired Renal Advantage
• 2011: Fresenius acquired a 51% stake in Katholisches Klinikum Duisburg hospital.
• 2011: Helios Kliniken acquired 94.7% of Damp Group.
• 2013: FMS acquired Shiel Medical Laboratory
  • 2017: Quest Diagnostics acquired Shiel Diagnostics.
• 2013: Fresenius acquired 41 hospitals from Rhön-Klinikum for €3.07 billion.
• 2016: Fresenius Kabi acquired the prescription drug business of Becton Dickinson.
• 2016: Fresenius Helios acquired the municipal in Velbert.
• 2017: Fresenius acquired Grupo Hospitalario Quirónsalud for €5.76 billion. This was the largest hospital provider in Spain.
• 2017: Fresenius Kabi acquired the biosimlars business of Merck KGaA.
• 2019: Fresenius Medical Care acquired NxStage which makes in-home dialysis devices for $2 billion.
• 2019: The US Dept of Justice and SEC fined FMS $231 million with allegations of bribery.

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References:

1. Wikipedia - Fresnius (Drawn 2/19/2020)
2. Wikipedia - Fresnius Medical Care (Drawn 2/19/2020)
3. Fresenius - History (Drawn 2/20/2020)
4. PR Newswire - Renal Advantage and Liberty Dialysis to combine (Drawn 2/20/2020)
5. Funding Universe - Renal Care Group (Drawn 2/20/2020)
6. Business Wire - Renal Care Group to Be Acquired (Drawn 2/20/2020)

Directory Listings:

• Colorado Springs Color - Health: Fresenius Kidney Care
• Denver Color - Clinics / Physicians: Fresenius Kidney Care
• Fort Collins Color - Health: Fresenius Kidney Care
• Pueblo Color - Health: Fresenius Kidney Care
• Missoula Websites - Health: Fresenius Kidney Care Center
• Cedar City - Health: Fresenius Kidney Care
• Davis County - Health: Fresenius Medical Care
• Ogden, Utah - Health: Fresenius Kidney Care
• Provo Utah - Health: Fresenius Kidney Care
• Saint George - Health: Fresenius Medical Care
• Salt Lake Sites - Doctors / Clinics: Fresenius Medical Care
• Cheyenne, Wyoming. US - Health: Fresenius Medical Care

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