Dialysis-Center Operator DaVita To Buy DSI Renal For $690 Million

Date : 02/04/2011 @ 9:48AM
Source : Dow Jones News
Stock : Davita Inc. (DVA)
Quote : 69.01  0.19 (0.28%) @ 4:03PM

Dialysis-Center Operator DaVita To Buy DSI Renal For $690 Million

DaVita Inc. (NYSE:DVA)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more DaVita Inc. Charts.

DaVita Inc. (DVA) said it has agreed to buy fellow dialysis-center operator DSI Renal Inc. for about $690 million, looking to expand itself geographically.

DSI runs 106 dialysis centers that serve about 8,000 patients, and the company has yearly revenue of about $360 million. DaVita, meanwhile, runs or provides administrative services at nearly 1,600 dialysis facilities, serving about 124,000 patients.

"This acquisition introduces us to several new geographies and makes us a more effective competitor in selected areas," said DaVita Chairman and Chief Executive Kent Thiry. "Through this acquisition, we will be able to bring the broader line of DaVita chronic kidney disease services to DSI patients."

The acquisition is expected to close during the second or third quarter this year.

DaVita's earnings have grown in recent quarters on increasing demand. The company in November said its third-quarter profit increased 7.6% as revenue climbed.

Shares of DaVita closed at $74.86 on Thursday and were inactive premarket. The stock has risen 25% in the past year.

-By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

 
 



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.