DaVita Acquires Majority Stake in NephroLife India
January 25 2012 - 6:00AM
Business Wire
DaVita Inc. (NYSE:DVA), a leading provider of kidney care
services for those diagnosed with chronic kidney disease (CKD)
today announced it has acquired controlling interest in NephroLife,
a leading Bangalore-based kidney care company. DaVita® had
previously announced making a minority investment in the company.
Specific terms of the deal were not disclosed.
“DaVita NephroLife is a strong cultural fit with DaVita,” said
DaVita Chairman and CEO Kent Thiry. “While it will take time for
this venture to realize returns, this is a logical, long-term
opportunity.”
“This is a unique opportunity in a region where DaVita has
focused its attention,” said Dennis Kogod, DaVita Chief Operating
Officer. “We will continue that focus in India and other areas in
the Asia-Pacific region.”
NephroLife currently operates nine clinics in India, offering a
range of nephrology care including dialysis and vascular
surgery.
“India represents a positive, long-term opportunity with
transformational growth in the health care arena,” said Atul
Mathur, DaVita’s president for the Asia-Pacific region.
As a leading provider of kidney care services in the United
States, DaVita has achieved clinical outcomes that have improved
year-over-year for more than a decade and will share that expertise
through its active management of the company.
“Our vision is to become a role model for health care,” said
DaVita NephroLife’s Managing Director Shriram Vijayakumar. “Our
innovative, integrated care has strong economic value for
society.”
DaVita is currently providing dialysis services in the
Asia-Pacific region in Singapore and has an agreement to develop
and operate dialysis clinics in Malaysia.
Bridge of Life - DaVita Medical Missions™, a nonprofit
organization founded by DaVita, has been conducting missions in
rural India since 2008. The focus has been opening dialysis clinics
in Phalodi and Jodhpur, updating the clinic’s water purification
systems, and providing extensive training for over one hundred
kidney care professionals.
DaVita® is a registered trademark of DaVita Inc. All other
trademarks are the property of their respective owners.
About DaVita
DaVita Inc., a Fortune 500® company, is a leading provider of
kidney care in the United States, delivering dialysis services to
patients with chronic kidney failure and end stage renal disease.
DaVita strives to improve patients’ quality of life by innovating
clinical care, and by offering integrated treatment plans,
personalized care teams and convenient health-management services.
As of September 30, 2011, DaVita operated or provided
administrative services at 1,777 dialysis facilities, serving
approximately 138,000 patients. DaVita supports numerous programs
dedicated to creating positive, sustainable change in communities
around the world. The company’s leadership development initiatives
and social responsibility efforts have been recognized by Fortune,
Modern Healthcare, Newsweek and WorldBlu. For more information,
please visit www.davita.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws, including statements
related to anticipated investment returns and prospective growth of
certain of our international ventures. Factors which could impact
future results include the risks and uncertainties associated with
expansion of our operations and services to markets outside the
United States, governmental regulations, general economic and other
market conditions, competition, and the risk factors set forth in
our SEC filings, including our Annual Report on Form 10-K for the
year ended December 31, 2010, and subsequent quarterly reports
filed on Form 10-Q. The forward-looking statements should be
considered in light of these risks and uncertainties. We base our
forward-looking statements on information currently available to us
at the time of this release, and we undertake no obligation to
update or revise any forward-looking statements, whether as a
result of changes in underlying factors, new information, future
events or otherwise.
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