 | |
 Headquarters as seen from theDenver Millennium Bridge | |
| Company type | Public |
|---|---|
| Industry | Healthcare |
| Founded | 1979; 46 years ago (1979) |
| Headquarters | Denver, Colorado, U.S. |
Key people | Javier J. Rodriguez (CEO) |
| Services | Kidney dialysis |
| Revenue |  US$12.8 billion (2024) |
| US$2.09 billion (2024) | |
| US$1.25 billion (2024) | |
| Total assets | US$17.3 billion (2024) |
| Total equity |  US$396 million (2024) |
| Owner | Berkshire Hathaway (41.2%)[1] |
Number of employees | 76,000 (2024) |
| Website | davita |
| Footnotes / references [2] | |
DaVita Inc. provideskidney dialysis services through a network of 2,675 outpatient centers in the United States, serving 200,800 patients, and 367 outpatient centers in 11 other countries serving 49,400 patients. The company primarily treatsend-stage renal disease (ESRD), which requires patients to undergo kidney dialysis 3 times per week for the rest of their lives unless they receive akidney transplant viaorgan donation. The company has a 37%market share in the U.S. dialysis market. It is organized inDelaware and based inDenver.[2]
In 2023, 67% of the company's revenues came fromMedicare and other government-based health insurance programs. In 2023, 89% of the company's patients were covered by government-based health insurance programs. Commercial payers, which accounted for 33% of revenues in 2023, generate nearly all of the company's profit as they reimburse at a much higher rate than government-based health insurance programs.[2]
The company is ranked 341st on theFortune 500.[3]
The name "DaVita" was derived from theItalian language phrase "Dare Vita", which means "to give life".[4]
The company was founded in 1979 as Medical Ambulatory Care, Inc., a subsidiary of National Medical Enterprises, Inc. (nowTenet Healthcare).[5]
In August 1994, 70% of the company was acquired byDLJ Merchant Banking Partners in aleveraged buyout for $75.5 million,[6] including a $10.5 million investment by DLJ.[7] The company then changed its name to Total Renal Care Holdings, Inc.
In October 1995, the company became apublic company via aninitial public offering, raising $107 million.[5]
By December 1996, DLJ had made a 386% return on its $10.5 million investment.[7]
On February 27, 1998, the company acquired Renal Treatment Centers for $1.3 billion in stock.[5][8]
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.[9][10]
In October 1999, Kent J. Thiry, then 43 years old, was named CEO.[11]
In 2000, the company sold its non-U.S. operations.[12]
In October 2000, the company was renamed DaVita Inc.[13]
In October 2005, the company acquired Gambro Healthcare.[14]
In October 2014, the company agreed to pay $350 million to settle claims that it provided illegalkickbacks to doctors.[15]
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.[16]
In June 2018, a jury awarded the families of 3 of the company's patients $383 million inwrongful death claims after the patients died fromcardiac arrest after undergoing treatment at DaVita centers.[17]
In July 2021, a federal grand jury indicted DaVita and former CEO Kent Thiry on charges of labor market collusion alleging participation in conspiracies withSurgical 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.[18][19]
In 2012, DaVita acquired Healthcare Partners for $4.42 billion.[20] In 2014, it acquired Colorado Springs Health Partners, with 600 employees and 110,000 patients.[21] 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.[22] In September 2016, Healthcare Partners was renamed DaVita Medical Group. In May 2017, it acquired WellHealth Quality Care.[23] In October 2018, it agreed to pay $270 million to settle allegations that it violated theFalse Claims Act by providing inaccurate information that causedMedicare Advantage Plans to receive inflated payments. James Swoben, awhistleblower, received $10 million.[24] In June 2019, the division was sold toUnitedHealth Group'sOptum division for $4.3 billion.[25]
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