5. Fresenius
Bad Homburg, Germany
2018 revenue: $19,553,589,900 (€16,547,000,000)
R&D spend: $158,347,800
Employees: 112,658
Revenues/employee: $173,566
Fiscal year ending: Dec. 31, 2018
Last year’s rank: 3
Key Personnel:
Rice Powell, chairman & CEO; Michael Brosnan, CFO; Dr. Katarzyna Mazur-Hofsäß, CEO, EMEA; Olaf Schermeier, CEO, global R&D; Kent Wanzek, CEO, global manufacturing, quality & supply; Harry de Wit, CEO, Asia-Pacific; Bill Valle, CEO, North America; Mike Asselta, president, Fresenius Kidney Care; Jeff Burbank, CTO, Fresenius Medical Care North America; Chris Churchill, SVP, corporate strategy & innovation, Fresenius Medical Care North America; Mark Costanzo, president, Fresenius Renal Therapies; Kate Dobbs, SVP, marketing & communications, Fresenius Medical Care North America; Lisa Estrada, chief compliance officer, Fresenius Medical Care North America; Brian Gauger, chief development officer, Fresenius Medical Care North America; Peter Gladitsch, CFO, Fresenius Medical Care North America; Karen Gledhill, GC, Fresenius Medical Care North America; Ravi Kalathil, CIO, Fresenius Medical Care North America; Cameron Lynch, SVP, government affairs, Fresenius Medical Care North America; Dr. Ross Kossman, chief medical officer, Fresenius Medical Care North America; Angela McClure, chief experience officer, Fresenius Medical Care North America; William McKinney, president, integrated care; Brian Silva, chief HR officer, Fresenius Medical Care North America; Jeff Snodgrass, president, Azura Vascular Care; Joe Turk, president, home & critical care therapies, Fresenius Medical Care North America
Description:
The biggest news for Fresenius (NYSE:FMS; ETR:FRE)was the long-delayed closing of its $2 billion NxStage Medical buyout, bringing the home hemodialysis pioneer under its umbrella after 21 months of scrutiny by anti-trust regulators. In June 2018 Fresenius closed the sale of its Sound Inpatient Physician Holdings unit to an investment consortium led by Summit Partners for approximately $2.2 billion (E.U. €1.9 billion), as part of its self-stated goal of “sharpening the profile of the company’s care coordination portfolio.” The German renal health giant also agreed to pay $231 million to the U.S. Securities & Exchange Commission to resolve self-reported violations of the Foreign Corrupt Practices Act in Saudi Arabia, Morocco, Angola, Turkey, Spain, China, Serbia, Bosnia, Mexico and eight countries in West Africa. The company’s stock took a hit in July 2019 on news that the Trump administration plans to overhaul the kidney treatment market, seeking to lower the federal government’s annual $100 billion kidney care tab. The strategy involves new payment models from the U.S. Health & Human Services Dept. designed to move patients out of dialysis clinics — a bread-and-butter business for Fresenius — and into their own homes for treatment; HHS also plans to increase prevention and screening for kidney disease. For 2018, net income rose 55% to €1.98 billion on a -7% sales decline to €16.55 billion. –BP