Who did GP chain Co-Med lend hundreds of thousands of healthcare cash to?

• Roland Muller

  Financial Reporter

• Sjoerd Verbiesen

  Economics Editor

The bankrupt GP chain Co-Med has lent no less than 2.5 million euros in healthcare cash to its personal father or mother firm, Co-Med Holding, though it has been bankrupt on paper on a regular basis.

The father or mother firm barely invested, however acquired increasingly cash from the healthcare firm. That is evident from an examination of the accounting of Co-Med and associated corporations. Enterprise director Man Vroemen doesn’t need to reply.

Since its institution in 2020, Co-Med’s turnover has elevated via the acquisition of normal practices and the associated funds from well being insurers. However Co-Med Zorg itself filed for chapter firstly of July, after the well being insurers stopped the cooperation.

Now the custodian has to seek out out that there isn’t any actual cash left. Co-Med lent 8.8 million euros in 2023. In 2022, this was nonetheless greater than 6 million, and no less than 2.5 million euros was a ‘declare on group corporations’.

That software ought to be thought of a mortgage to the shareholders of Co-Med Holding, say two respected accounting corporations, which aren’t named as a result of Co-Med will not be a buyer. One other 3.3 million euros in claims aren’t specified.

Such a mortgage from daughter to mom is extra frequent. A weak firm will not be allowed to distribute income and as a substitute cash is usually loaned to shareholders. On this manner, one BV opens, because it have been, a checking account for the opposite BV within the type of a mortgage.

“As a result of the cash is distributed instantly from the well being care firm to the holding firm, the well being care firm has little or no ‘money’ left,” says one of many accountants. that Co-Med will not be strengthening well being care, however benefiting from a father or mother firm that was by no means potential.

The holding firm consists of the creators Man Schulpen and Caro van Uden and the enterprise director Man Vroemen. All three didn’t imagine that giant private investments have been vital. Buy practices wanted to generate money shortly from well being insurers and canopy start-up prices shortly.

“The prices needed to come earlier than the advantages,” says Schulpen, the board’s in-house medical skilled. “I personally invested 1.5 tons. The others invested a bit of extra, however that additionally quantities to tons.”

Making a big effect with few sources matches the enterprise imaginative and prescient of Man Vroemen, who describes himself in an older firm video as “David towards Goliath”.

Earlier than this he ran a tape firm with two sides. In a podcast van EenVandaag, former colleagues accuse Vroemen of fraud, lies and abusive habits. Vroemen doesn’t need to reply to those allegations.

Co-Med Holding borrows cash, but in addition lends 2.1 million euros. That is evident from the 2022 annual accounts, which have been revealed solely a month in the past.

Once more, the accountants assume that this pertains to a mortgage to a number of shareholders, on this case the non-public BVs of the trio Co-Med Vroemen, Van Uden and Schulpen.

Within the figures of Schulpen and Van Uden, the debt doesn’t enhance considerably. Schulpen says he’s nonetheless getting cash from the corporate. Van Uden refuses to provide a public reply.

The BV that the enterprise director Man Vroemen has established within the Co-Med Holding can have a debt of virtually 500,000 in 2022. And now a comparable quantity is being lent once more. The shareholder of this BV is one other Belgian BV owned by Vroemen, Controller Ex Omnibus (‘controller of all’). This firm final revealed figures in 2020.

“This isn’t entrepreneurship, however the switch of cash,” mentioned well being care economist Marcel Canoy, who’s aggravated by well being care entrepreneurs who need to share the income however not the losses. “Injecting a couple of hundred thousand euros will not be actual cash when it issues tens of 1000’s of sufferers. “

There are profitable examples of economic, scalable care, equivalent to aged care and childcare, says Canoy. However with out cash, the dangers are irrational: “If a retailer closes, you purchase cookies from the shop subsequent door. However well being care will not be a bag of cookies. If a well being care firm like that collapses all of a sudden, sufferers shall be left behind.”

“Vroemen eliminated all monetary issues, says Schulpen, “We needed to principally have a look at the revenue and loss account and never the debt.” The administrators signed the figures themselves, says Vroemen in an earlier response to NOS. has acquired incorrect data and no criticism has been made about this earlier than.”

The guardian says that the function of everybody concerned is being investigated, however it has not but been introduced whether or not he accepts joint and a number of other legal responsibility.