Improving Health, Health Care and Quality of Life
DENVER, Aug. 24, 2015 /PRNewswire/ -- DaVita HealthCare Partners Inc. (NYSE: DVA), one of the nation's largest and most innovative health care communities, announced that it has entered into an agreement to acquire Colorado-based Renal Ventures Limited, LLC ('Renal Ventures') – including a 100 percent interest in all dialysis centers owned by Renal Ventures – for $415 million.
Javier Rodriguez, CEO of DaVita Kidney Care said, "We are excited to work with Renal Ventures' patients, employees and physicians. Our commitment is, and will always be about enhancing the quality of life for our patients. We look forward to serving Renal Ventures' patients with industry-leading outcomes and comprehensive care."
Renal Ventures operates 36 dialysis clinics in six states. Multispecialty Physician Partners and Physician Venture Partners, divisions of Renal Ventures, operate infusion and vascular centers, respectively, in three states.
"Renal Ventures takes great pride in its culture of actively engaging our employees, patients and the communities we serve. The quality of care delivered by our caregivers, along with recognition as 'Best Place to Work,' are a source of pride," said Larry Chatfield, CEO of Renal Ventures. "In today's changing health care environment, combining with DaVita, a patient-centric organization, will benefit all of our stakeholders."
DaVita operates 2,210 clinics in 46 states and is the demonstrated clinical leader according to two recent government reports, the CMS Five-Star Rating System and the CMS Quality Incentive Program.
Credit Suisse acted as financial advisor to DaVita on this transaction. Morrison & Foerster LLP served as lead counsel, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., served as regulatory counsel to DaVita.
For Renal Ventures, Brownstein Hyatt Farber Schreck, LLP served as lead counsel and Raymond James and Associates served as financial advisor.
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 by the acquired business. Factors which could impact future results include the uncertainties associated with our ability to complete any acquisition, merger or disposition that we might be considering or announce, or integrate and successfully operate any business we may acquire, 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, 2014, 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.
About DaVita HealthCare Partners
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 June 30, 2015, DaVita Kidney Care provided dialysis services to a total of approximately 184,000 patients at 2,306 outpatient dialysis centers, of which 2,210 centers are located in the United States and 96 centers are located in ten countries outside of the United States. 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.
SOURCE DaVita HealthCare Partners Inc.