S&P 500 component
|Headquarters||Denver, Colorado, United States|
|Javier J. Rodriguez, CEO|
Peter Grauer, lead independent director
|Revenue||$11.550 billion (2020)|
|$773 million (2020)|
|Total assets||$16.988 billion (2020)|
|Total equity||$1.383 billion (2020)|
|Owner||Berkshire Hathaway 23.18%|
Number of employees
|Footnotes / references|
DaVita Inc. provides kidney dialysis services through a network of 2,816 outpatient dialysis centers in the United States, serving 204,200 patients, and 321 outpatient dialysis centers in 10 other countries serving 3,200 patients. The company primarily treats end-stage renal disease (ESRD), which requires patients to undergo dialysis 3 times per week for the rest of their lives unless they receive a donor kidney. The company has a 37% market share in the U.S. dialysis market. It is organized in Delaware and based in Denver.
In 2020, 68% of the company's revenues came from Medicare and other government-based health insurance programs. In 2020, 90% of the company's patients were covered by government-based health insurance programs. Commercial payers, which accounted for 32% of revenues in 2020, generate all of the company's profit as they reimburse at a much higher rate than government-based health insurance programs.
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.
By December 1996, DLJ had made a 386% return on its $10.5 million investment.
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 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 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.
- Davita Inc. Proxy Statement
- "DaVita Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Fortune 500: Davita". Fortune.
- "About DaVita". DaVita.
- "TOTAL RENAL CARE HOLDINGS, INC. 1998 Form 10-K Annual Report" (PDF). U.S. Securities and Exchange Commission.
- "NME SELLING 70% STAKE IN DIALYSIS COMPANY". Modern Healthcare. April 25, 1994.
- Zweig, Phillip L. (December 23, 1996). "At Dlj, Will Lbo Lightning Strike Twice?". Bloomberg L.P.
- ABRAM, SUSAN (November 20, 1997). "Dialysis Firm to Purchase Rival for $1.2 Billion". Los Angeles Times.
- PELTZ, JAMES F. (July 20, 1999). "Total Renal Care Stock Takes 2nd Big Drop of Year". Los Angeles Times.
- Wartzman, Rick (July 19, 1999). "Total Renal's CEO and CFO Quit As Firm Issues a Results Warning". The Wall Street Journal.
- Rundle, Rhonda L.; Lublin, Joann S. (October 19, 1999). "Total Renal Care Names Kent Thiry, Veteran in Dialysis Industry, as CEO". The Wall Street Journal.
- "Total Renal Care Announces the Signing of Definitive Agreements for the Sale of Selected Non-Continental U.S. Operations" (Press release). PR Newswire. January 20, 2000.
- "Total Renal Care Holdings, Inc. Announces Legal Name Change to DaVita Inc" (Press release). PR Newswire. October 4, 2000.
- "DaVita Closes Gambro Healthcare Acquisition" (Press release). PR Newswire. October 5, 2005.
- "DaVita to Pay $350 Million to Resolve Allegations of Illegal Kickbacks" (Press release). United States Department of Justice. October 22, 2014.
- "DaVita to Pay $450 Million to Resolve Allegations That it Sought Reimbursement for Unnecessary Drug Wastage" (Press release). United States Department of Justice. June 24, 2015.
- "Hagens Berman Announces $383.5 Million Jury Verdict Against Dialysis Provider, DaVita, in Wrongful Death Lawsuits" (Press release). Business Wire. June 27, 2018.
- Barr, Paul (November 2, 2012). "DaVita completes HealthCare Partners deal". Modern Healthcare.
- Rubenfire, Adam (October 23, 2014). "DaVita HealthCare Partners acquires Colorado Springs practice". Modern Healthcare.
- WALLACE, ALICIA (March 1, 2016). "DaVita completes $385M Everett Clinic acquisition". The Denver Post.
- "HealthCare Partners Nevada Completes Acquisition of WellHealth Quality Care" (Press release). PR Newswire. May 2, 2017.
- "Medicare Advantage Provider to Pay $270 Million to Settle False Claims Act Liabilities" (Press release). United States Department of Justice. October 1, 2018.
- "Optum completes acquisition of DaVita Medical Group from DaVita" (Press release). Optum. June 19, 2019.
- Official website
- Business data for DaVita Inc.: