Business

Fresenius stays in Russia

No retreat planned
Fresenius stays in Russia

The healthcare group Fresenius wants to hold on to its Russian business despite the attack on Ukraine. After all, you can’t offset lives against each other, says CEO Sturm. This also applies if a dialysis patient is a Putin supporter.

The CEO of the Fresenius healthcare group, Stephan Sturm, has spoken out emphatically against withdrawing from Russia. “We can’t count lives against each other,” said the head of the Dax group, whose subsidiary Fresenius Medical Care (FMC) operates 100 dialysis clinics in Russia, in an interview with the Frankfurter Allgemeine Zeitung.

Fresenius 33,16

“Even if one of our dialysis patients in Russia were a supporter of Vladimir Putin,” he could not be punished with death by stopping treatment, Sturm emphasized. At the same time, the 58-year-old manager spoke out against a gas embargo by the West.

He was convinced that this or the turning off of the gas tap by Russia would lead to unforeseeable serious consequences. “The fact that you should simply put on an additional sweater is a gross simplification and downplaying of the facts, which is misleading,” said Sturm, who has been at the helm of Fresenius for six years.

Sturm was dissatisfied with the development of his own share price. Since he took office, the value of Fresenius shares has roughly halved, while the DAX has increased by more than 50 percent at times. The disappointing trend down could also be a topic at the FMC and Fresenius shareholders’ meetings on Thursday and Friday.

Sturm justified him with considerable skepticism on the capital market regarding “various long-term investments” that Fresenius had tackled. The Fresenius boss confessed to having entered the company in 2017 at prices of around 65 euros. On Tuesday, the share was listed at around EUR 33.50.

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