DENVER & BANGALORE, India--(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.
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.
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.