Fresenius Failing to Care
Fresenius, through its various divisions, is ranked in the top 260 global corporations. Fresenius Medical Care is the world’s largest dialysis company. With Helios in Germany and Quirónsalud in Spain, Fresenius is Europe’s largest private hospital operator. Vamed, based in Austria, is a global hospital developer and operator. Fresenius Kabi is a producer and worldwide supplier of pharmaceuticals and medical equipment.
Fresenius’s income is derived largely from government spending on healthcare, funded by taxpayers. While the evidence in this CICTAR reports strongly suggests that Fresenius uses all forms of transfer pricing to avoid taxes where profits are earned.
Fresenius uses holding companies in Malta, the Netherlands, Delaware, Singapore, the
Cayman Islands, the British Virgin Islands and has “branches” of German companies in Panama which own businesses globally. These structures — along with captive insurance companies in Malta, Bermuda and the Cayman Islands — may also allow Fresenius to shift profits to avoid corporate income tax on global operations.
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