DaVita Completes Acquisition of Renal Ventures
DENVER, May 2, 2017 /PRNewswire/ -- DaVita Kidney Care, a division of DaVita Inc. (NYSE: DVA), a leading independent provider of integrated health and kidney care services in the United States and internationally, announced that it closed its acquisition of Colorado-based Renal Ventures Management, LLC ('Renal Ventures') on Monday, May 1, 2017.
"We are excited to have Renal Ventures' employees, physicians and patients join the DaVita Village," said Javier Rodriguez, CEO of DaVita Kidney Care. "Both DaVita and Renal Ventures have talented caregivers with relentless passion towards enhancing the quality of life for patients. We look forward to benefiting from the power of the combined talent dedicated to delivering industry-leading outcomes and comprehensive care."
DaVita acquired 38 dialysis centers and divested seven centers in connection with the approval of the transaction by the Federal Trade Commission.
After divestitures, DaVita will add 31 dialysis centers in six states. DaVita is extending employment opportunities to current Renal Ventures clinical teammates and many Renal Ventures business office teammates located in Lakewood, Colo.
The Centers for Medicare & Medicaid Services (CMS) Five-Star Quality Rating program rates dialysis providers from one to five stars to measure patient outcomes, giving consumers a better picture of how a center is performing. For the third year in a row, DaVita has been recognized as a clinical leader in results achieved under the CMS Five-Star Quality Rating System. According to the latest government ratings, DaVita outperformed the rest of the industry with the highest percentage of centers meeting or exceeding quality measures and lowest percentage of one- and two-star centers in the country.
About DaVita Inc.
DaVita Inc., a Fortune 500® company, is the parent company of DaVita Kidney Care and DaVita Medical Group. DaVita Kidney Care is a leading provider of kidney care in the United States, delivering dialysis services to patients with chronic kidney failure and end stage renal disease. As of December 31, 2016, DaVita Kidney Care operated or provided administrative services at 2,350 outpatient dialysis centers located in the United States serving approximately 188,000 patients. The company also operated 154 outpatient dialysis centers located in 11 countries outside the United States. DaVita Medical Group manages and operates medical groups and affiliated physician networks in California, Nevada, New Mexico, Florida, Colorado and Washington in its pursuit to deliver excellent-quality health care in a dignified and compassionate manner. As of December 31, 2016, DaVita Medical Group provided integrated care management for approximately 749,000 patients. For more information, please visit DaVita.com/about.
Forward Looking Statements
This release may contain forward-looking statements within the meaning of the federal securities laws. All statements that do not concern historical facts are forward-looking statements and include, among other things, statements about our expectations, beliefs, intentions and/or strategies for the future, including the prospective performance of or synergies created involving the acquired business, improvement on physician practices, enhanced patient care and quality of life, and the impact the business combination will have on clinical outcomes and comprehensive care. Factors which could impact future results include the uncertainties associated with our ability to complete any acquisition or merger that we might be considering or announce, or integrate and successfully operate any business we may acquire or with whom we merge, or retain key personnel of the acquired business or their being able to continue to successfully manage or have adequate resources to successfully operate the acquired business, and the other risk factors set forth in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2016, and subsequent quarterly reports filed on Form 10-Q. Any forward-looking statements should be considered in light of these risks and uncertainties. We base our forward-looking statements on information currently available to us at the time of this release, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of changes in underlying factors, new information, future events or otherwise.
Media Contact:
Kate Stabrawa
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SOURCE DaVita Kidney Care
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