Published: February 04, 2011
DaVita to Acquire DSI Renal, Inc.
DENVER - (BUSINESS WIRE) - DaVita Inc. (NYSE: DVA), announced that it has entered into a definitive
agreement to acquire DSI Renal, Inc. ("DSI"), for approximately $690
million, subject to adjustments. The company expects to close the
transaction in the second or third quarter of this year.
Completion of the transaction is subject to customary closing conditions
including Hart-Scott-Rodino antitrust clearance. DaVita anticipates that
the company will have to divest some centers as a condition of the
transaction.
DSI currently operates 106 dialysis centers serving approximately 8,000
patients. DSI's current annualized revenue is approximately $360 million.
Kent Thiry, Chairman and CEO of DaVita stated, "We look forward to
joining the dedicated teammates and physicians associated with DSI in
continuing to provide quality care to ESRD patients. This acquisition
introduces us to several new geographies and makes us a more effective
competitor in selected areas. Through this acquisition we will be able
to bring the broader line of DaVita chronic kidney disease services to
DSI patients. These services will be beneficial for patients,
physicians, payors, and taxpayers in providing more effective care and
helping to reduce costs to the health care system."
Leif Murphy, President and CEO of DSI commented, "DaVita has always
shared DSI's commitment to improving the quality of life of our patients
and to providing high quality care. We believe that combining with
DaVita in today's complex healthcare environment will help us take our
operations to the next level and greatly benefit our patients and staff."
Credit Suisse served as a financial advisor and Fried, Frank, Harris,
Shriver & Jacobson LLP served as a legal advisor to DaVita on the
transaction.
DaVita will discuss further details of this transaction on its fourth
quarter earnings conference call scheduled for Thursday, February 10,
2011; at 5:00 p.m. EST. The dial-in number for this call is 800-399-4406
and a webcast can be accessed at www.davita.com
or www.fulldisclosure.com.
Investors who are unable to listen to the DaVita conference call will be
able to access a replay via our website at www.davita.com.
Forward Looking Statements
This release may contain forward-looking statements, within the
meaning of the federal securities laws. All statements that do not
concern historical facts are forward-looking statements and include,
among other things, statements about our expectations, beliefs,
intentions and/or strategies for the future. Factors which could impact
future results include the uncertainties associated with our ability to
complete any acquisition, merger or disposition that we might be
considering or announce, or integrate and successfully operate any
business we may acquire, and the other risk factors set forth in our SEC
filings, including our Annual Report on Form 10-K for the year ended
December 31, 2009, and subsequent quarterly reports filed on Form 10-Q.
Any 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.
About DaVita
DaVita Inc., a Fortune 500(R) company, is a leading provider of kidney
care in the United States, delivering dialysis services and education to
patients with chronic kidney failure and end stage renal disease. As of
September 30, 2010, DaVita operated or provided administrative services
at 1,598 dialysis facilities, serving approximately 124,000 patients.
DaVita develops, participates in and donates to numerous programs
dedicated to transforming communities and creating positive, sustainable
change for children, families and our environment. The company's
leadership development initiatives and corporate social responsibility
efforts have been recognized by Fortune, Modern Healthcare,
Newsweek and WorldBlu, among others. For more information, please
visit www.davita.com.

DaVita Inc.
Investors:
Jim Gustafson
310-536-2585
Jim.Gustafson@davita.com
or
Media:
Skip
Thurman
303-405-2296
Skip.Thurman@davita.com
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