DENVER, May 4, 2016 /PRNewswire/ -- DaVita Kidney Care, a division of DaVita (NYSE: DVA) and a leading provider of kidney care services in the United States, today announced the signing of a definitive agreement that, subject to certain closing conditions, will create a long-term joint venture. The joint venture with Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia, and Mitsui & Co., LTD., one of the most diversified and comprehensive trading, investment and service companies in the world, is intended to support the growth of DaVita Kidney Care operations in the Asia-Pacific region.
Khazanah and Mitsui will collectively own 40 percent in DaVita's Asia-Pacific kidney care business. DaVita will drive operations as the majority owner of the joint venture and continuing its efforts to provide the same high-quality clinical outcomes that lead all other major dialysis providers in the U.S. according to the Centers for Medicare and Medicaid Services (CMS) Five-Star and QIP programs.
"Two-thirds of the world's population lives in Asia Pacific, and there simply isn't enough capacity to provide access to quality care for patients," said Kent Thiry, chairman and CEO of DaVita. "This partnership will leverage our collective healthcare experience to provide patients and their families the care they deserve."
Khazanah and Mitsui are currently major shareholders of IHH Healthcare, the world's second largest hospital group (by market capitalization). Their experience and understanding of the healthcare landscape in Asia Pacific will deepen DaVita's local expertise to accelerate expansion in the region.
"This partnership is a reflection of our shared commitment to serve a growing number of patients needing quality dialysis treatment in the region," said Atul Mathur, DaVita's executive vice president of global operations. "It is also a commitment to providing career opportunities to current and future teammates in the Asia-Pacific region for which DaVita is well known."
DaVita currently delivers its life-sustaining kidney care services to patients in 42 cities across Asia Pacific. The company serves urban populations as well as more remote rural areas where access to care can be a challenge. DaVita and its teammates also produce educational resources that give individuals the knowledge and tools they need to help slow the progression of and better manage their kidney disease.
It is estimated that 10 percent of the world's population has chronic kidney disease, and many do not know it because the symptoms go unnoticed until the disease has progressed to full renal failure. To learn more about kidney disease or DaVita's international operations, visit DaVita.com/International.
About DaVita Kidney Care
DaVita Kidney Care is a division of DaVita HealthCare Partners Inc., a Fortune 500® company that, through its operating divisions, provides a variety of health care services to patient populations throughout the United States and abroad. A leading provider of dialysis services in the United States, DaVita Kidney Care treats patients with chronic kidney failure and end stage renal disease. DaVita Kidney Care strives to improve patients' quality of life by innovating clinical care, and by offering integrated treatment plans, personalized care teams and convenient health-management services. As of March. 31, 2016, DaVita Kidney Care operated or provided administrative services at 2,402 outpatient dialysis centers located in serving approximately 192,000 patients around the world. DaVita Kidney Care supports numerous programs dedicated to creating positive, sustainable change in communities around the world. The company's leadership development initiatives and social responsibility efforts have been recognized by Fortune, Modern Healthcare, Newsweek and WorldBlu. For more information, please visit DaVita.com.
DaVita and DaVita HealthCare Partners are trademarks or registered trademarks of DaVita HealthCare Partners Inc.
This release contains forward-looking statements within the meaning of the federal securities laws in the United States of America, including statements related to anticipated and prospective growth of certain of our international ventures, the clinical outcomes that they might deliver and our growth strategy for the Asia Pacific region. Factors which could impact future results include the risks and uncertainties associated with our ability to complete the formation of any joint venture or successfully consummate any transaction that we might be considering or announce, or successfully operate any joint venture we may form, expansion of our operations and services to markets outside of the United States of America, local governmental regulations, general economic and other local market conditions, competition, and the risk factors set forth in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended Dec. 31, 2015, and subsequent quarterly reports filed on Form 10-Q. The 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.
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SOURCE DaVita Kidney Care