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.
Investors:
Jim
Gustafson
310-536-2585
Jim.gustafson@davita.com
Media:
Skip Thurman
303-876-6610
Skip.Thurman@davita.com
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SOURCE DaVita HealthCare Partners Inc.