DaVita (DVA) to Acquire Renal Ventures in $415M Deal
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DaVita (NYSE: DVA) 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.
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