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DaVita

#1609

Rank

$9.41B

MarketCap US

US United States

Country

Summary
DaVita Inc. provides kidney dialysis services for patients suffering from chronic kidney failure. The company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers. It also provides outpatient, hospital inpatient, and home-based hemodialysis services; owns clinical laboratories that provide routine laboratory tests for dialysis and other physician-prescribed laboratory tests for ESRD patients; and management and administrative services to outpatient dialysis centers. In addition, the company provides disease management services to 16,000 patients in risk-based integrated care arrangements and 7,000 patients in other integrated care arrangements; vascular access services; clinical research programs; physician services; and comprehensive kidney care services. As of December 31, 2021, it provided dialysis and administrative services in the United States through a network of 2,815 outpatient dialysis centers serving approximately 203,100 patients; and operated 339 outpatient dialysis centers located in 10 countries outside of the United States serving approximately 39,900 patients. Further, the company provides acute inpatient dialysis services in approximately 850 hospitals and related laboratory services in the United States. The company was formerly known as DaVita HealthCare Partners Inc. and changed its name to DaVita Inc. in September 2016. DaVita Inc. was incorporated in 1994 and is headquartered in Denver, Colorado.

History

The company was founded in 1979 as Medical Ambulatory Care, Inc., a subsidiary of National Medical Enterprises, Inc. .In August 1994, 70% of the company was acquired by DLJ Merchant Banking Partners in a leveraged buyout for $75.5 million, including a $10.5 million investment by DLJ. The company then changed its name to Total Renal Care Holdings, Inc.

In October 1995, the company became a public company via an initial public offering, raising $107 million.By December 1996, DLJ had made a 386% return on its $10.5 million investment.On February 27, 1998, the company acquired Renal Treatment Centers for $1.3 billion in stock.The integration went poorly and in July 1999, the CEO and CFO resigned. After tripling in value between 1995 and 1998, by July 1999, the stock price was down 71% year-to-date.In October 1999, Kent J. Thiry, then 43 years old, was named CEO.In 2000, the company sold its non-U.S. operations.In October 2000, the company was renamed DaVita Inc.In October 2005, the company acquired Gambro Healthcare.In October 2014, the company agreed to pay $350 million to settle claims that it provided illegal kickbacks to doctors.In June 2015, the company agreed to pay $450 million to settle allegations that it unnecessarily disposed of drugs and then billed the U.S. federal government for this waste.In June 2018, a jury awarded the families of 3 of the company's patients $383 million in wrongful death claims after the patients died from cardiac arrest after undergoing treatment at DaVita centers.In July 2021, a federal grand jury indicted DaVita and former CEO Kent Thiry on charges of labor market collusion alleging participation in conspiracies with Surgical Care Affiliates to suppress competition for the services of certain senior-level employees. The company and Thiry were acquitted by a jury in April 2022.

Healthcare Partners

In 2012, DaVita acquired Healthcare Partners for $4.42 billion. In 2014, it acquired Colorado Springs Health Partners, with 600 employees and 110,000 patients. In March 2016, it acquired The Everett Clinic Medical Group, a 20-site physicians practice with 315,000 patients in the Seattle area, for $385 million. In September 2016, Healthcare Partners was renamed DaVita Medical Group. In May 2017, it acquired WellHealth Quality Care. In October 2018, it agreed to pay $270 million to settle allegations that it violated the False Claims Act by providing inaccurate information that caused Medicare Advantage Plans to receive inflated payments. James Swoben, a whistleblower, received $10 million. In June 2019, the division was sold to UnitedHealth Group's Optum division for $4.3 billion.


Mission
To Be the Provider, Partner and Employer of Choice We aim to Build the Greatest Health Care Community the World Has Ever Seen through our commitment to upholding our Mission and Core Values for our patients, partners and teammates.

Vision
To Build the Greatest Healthcare Community the World has ever seen.

Key Team

Mr. James O. Hearty (Chief Compliance Officer)

Mr. Michael David Staffieri (Chief Operating Officer of Kidney Care)

Mr. John D. Winstel (Chief Accounting Officer)

Mr. Jim Gustafson (VP of Investor Relations)

Mr. Kenneth Gardner Smith (Chief People Officer)

Mr. Atul Mathur (Exec. VP of Global Operations)

Dr. Abdulkareem Alsuwaida FRCPC, M.D., MSc (Chief Medical Officer - Saudi Operations)


Recognition and Awards
DaVita has been recognized as one of Fortune magazine’s World’s Most Admired Companies, as well as one of Ethisphere’s World’s Most Ethical Companies.

References
DaVita
Leadership team

Mr. Javier J. Rodriguez (CEO & Exec. Director)

Mr. Joel Ackerman (CFO & Treasurer)

Ms. Kathleen Alyce Waters (Chief Legal & Public Affairs Officer)

Products/ Services
Health Care
Number of Employees
Above 50,000
Headquarters
Denver, Colorado, United States
Established
1979
Company Registration
SEC CIK number: 0000927066
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
DVA
Social Media
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