Secret documents show the complex finances behind a new hospital construction in Sweden
Secret documents show the complex finances behind a new hospital construction in Sweden

Swedish companies

Controversial Swedish Hospital Partnership Has Luxembourg Links

It is called the flagship of Swedish health care: the modern, new university hospital New Karolinska Solna. But, according to an investigation by Swedish TV program “Uppdrag granskning” (Mission: Investigation), large sums from the prestigious project are routed to the tax haven of Luxembourg.

New Karolinska Solna (NKS), a high-tech new hospital, is one of the most expensive projects in Sweden. But the project has received mixed reviews since 2010, when Swedish authorities gave a single bidder the contract in a public-private partnership (PPP) – not only to build the hospital but also account for the financing and maintenance for decades to come.

“We know to the single Crown what this will cost. There are no surprises for the taxpayers. We have full control, there are no secrets. This project bears close examination,” said Torbjorn Rosdahl, leading politician for the Conservative party ordering the NKS-hospital.

What the politicians in the Stockholm county did not know, and did not ask about, was how the company Swedish Hospital Partners (SHP), owned by Swedish construction giant Skanska and British investment company Innisfree, had created business structures using subsidiaries in Luxembourg that would lead to drastically-reduced tax bills in Sweden.

A few months after SHP was awarded the 52 billion Swedish Crown NKS contract, multinational auditing and consulting firm PricewaterhouseCoopers (PwC) was commissioned by Innisfree to create a new tax structure in Luxembourg. The confidential arrangement between the company and the Luxembourg government has now been revealed as part of a cache of more than 500 leaked tax rulings and financial documents published by the International Consortium of Investigative Journalists (ICIJ), and reviewed by SVT.

Sweden is one of the  top-ten countries with the most companies in the Lux Leaks database, which includes household names such as IKEA and  Tele2, as well as Swedish venture capital companies, food industry, hotels, and healthcare companies. And Swedish Hospital Partners.

Read the full story at

Read more
Inside Luxembourg Leaks
Day in a Fiscal Paradise: Chasing Letterbox Leads
December 5, 2014 — ICIJ’s German partners take a day trip to Luxembourg, looking for answers. But all they find are mailboxes and more questions.
Inside Luxembourg Leaks
New Leak Reveals Luxembourg Tax Deals for Disney, Koch Brothers Empire
December 9, 2014 — Latest “Lux Leaks” files obtained by ICIJ disclose secret tax structures sought by “Big 4” accounting giants for brand name international companies.
Inside Luxembourg Leaks
Koch Industries’ Mysterious ‘Internal Bank’ in Switzerland
December 10, 2014 —   The Koch brothers are renowned for their libertarian views, their political funding and influence, and their privately-owned global business empire. But…