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                                                                      EXHIBIT 11


                      FRESENIUS MEDICAL CARE NORTH AMERICA
        WEIGHTED AVERAGE NUMBER OF SHARES AND EARNINGS USED IN PER SHARE
                                   COMPUTATION
                        (DOLLARS AND SHARES IN THOUSANDS)



<TABLE>
<CAPTION>
                                                                     THREE  MONTHS  ENDED                     SIX MONTHS ENDED
                                                                           JUNE 30,                                JUNE 30,
                                                                  ---------------------------           ---------------------------
                                                                    2000               1999               2000               1999
                                                                    ----               ----               ----               ----

<S>                                                               <C>                <C>                <C>                <C>
The weighted average number of shares of
  Common Stock were as follows..........................            90,000             90,000             90,000             90,000
                                                                  ========           ========           ========           ========
</TABLE>

     Income used in the computation of earnings per share were as follows:


<TABLE>
<CAPTION>
                                                                      THREE  MONTHS  ENDED                   SIX MONTHS ENDED
                                                                            JUNE 30,                              JUNE 30,
                                                                  ---------------------------           ---------------------------
                                                                    2000               1999               2000               1999
                                                                    ----               ----               ----               ----
<S>                                                               <C>                <C>                <C>                <C>
CONSOLIDATED

Net earnings ...........................................          $ 25,169           $ 21,404           $ 48,263           $ 39,031

Dividends paid on preferred stocks .....................              (130)              (130)              (260)              (260)
                                                                  --------           --------           --------           --------

Income used in per share computation of earnings........          $ 25,039           $ 21,274           $ 48,003           $ 38,771
                                                                  ========           ========           ========           ========

Basic and fully dilutive earnings per share ............          $   0.28           $   0.24           $   0.53           $   0.43
                                                                  ========           ========           ========           ========
</TABLE>