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DaVita Inc. provides comprehensive kidney care through a global dialysis and care-delivery network. Company news commonly covers quarterly operating results, revenue per treatment, patient care costs, reimbursement trends, share repurchases and investor conference participation.
Updates also address DaVita's value-based kidney care programs, coordinated care arrangements, and services that support patients across stages and settings of kidney disease, including home support, outpatient dialysis centers, hospitals, skilled nursing facilities and transplantation-related care.
In response to Hurricane Laura, DaVita Kidney Care opened its dialysis centers across Texas, Louisiana, Alabama, and Mississippi to all patients needing treatment, ensuring continuity of care. The company has coordinated care for nearly 700 evacuated dialysis patients and prepared 150 centers ahead of the hurricane, deploying essential resources. Patients are advised to adhere to local boil water advisories due to potential flooding. With a commitment to quality care, DaVita aims to support vulnerable patients during this emergency.
DaVita Clinical Research (DCR) has initiated two clinical trials to explore the impact of COVID-19 on patients with end stage kidney disease (ESKD) undergoing dialysis. The studies aim to investigate the role of COVID-19 antibodies in future infections and the relationship between genetic markers and the severity of COVID-19 symptoms. Approximately 524,000 individuals in the U.S. require dialysis, placing them at increased risk for severe COVID-19. Findings from these studies are expected to be published in early 2021, contributing valuable insights into the virus's effects on this vulnerable population.
DaVita Inc. (NYSE: DVA) announced a modified "Dutch auction" tender offer for up to $1.0 billion of its common stock. The share price will range from $77.00 to $88.00 and the offer will expire at midnight on September 14, 2020. This tender offer allows shareholders to specify tender amounts and prices, with DaVita determining the lowest acceptable price. The purchase will be financed with cash and potentially through borrowings. The company emphasizes that the offer is subject to specific conditions and is not a solicitation to sell shares.
DaVita has launched an expanded program named Bridge to Your Dreams to support clinical teammates pursuing nursing degrees. The initiative offers resources for patient care technicians and nurses to advance their education, covering tuition and related costs. Participants will receive guidance from academic advisors and success coaches, aiming to address educational barriers in nursing. With an expected shortfall of registered nurses, DaVita's program is crucial for cultivating a skilled workforce in kidney care. The company operates 2,795 dialysis centers in the U.S., serving over 205,300 patients.
DaVita Inc. (NYSE: DVA) has appointed Paula A. Price as an independent director, effective September 1, 2020. Ms. Price brings over 30 years of financial and operational experience from various industries, including her recent role as CFO of Macy's, Inc. She has a strong background in capital allocation and a commitment to healthcare innovation. With her addition, the DaVita Board now has nine directors, achieving over 75% diversity. Ms. Price will also serve on the Audit Committee, enhancing the board's expertise amid DaVita's focus on improving patient care.
DaVita Inc. (NYSE: DVA) has priced its $1.5 billion offering of senior notes due 2031 at a coupon of 3.750%. Closing is scheduled for August 11, 2020. Proceeds will redeem existing $1.5 billion senior notes due 2025, with the redemption set for August 21, 2020. The offering is conducted under Rule 144A and Regulation S, and is not registered under the Securities Act. The release includes forward-looking statements regarding the offering and its use of proceeds, along with risk factors related to market conditions and business impacts from COVID-19.
DaVita Inc. (NYSE: DVA) has announced a private offering of $1.5 billion in senior notes due 2031, subject to market conditions. The proceeds will be used to redeem all outstanding 5.000% senior notes due 2025, totaling $1.5 billion. A notice of redemption for the 2025 notes will be issued, contingent on the completion of the new offering. The notes are being offered under Rule 144A and Regulation S of the Securities Act. Risks include market conditions affecting the offering and ongoing impacts from the COVID-19 pandemic.
During Q2 2020, DaVita (NYSE: DVA) reported consolidated revenues of $2.880 billion with an operating income of $410 million, achieving a 14.2% operating margin. The company focused on patient care amid the COVID-19 pandemic, enhancing safety through testing and telehealth. Diluted EPS from continuing operations was $1.62, up from $1.16 Y-o-Y. Operating cash flow reached $651 million. DaVita treats over 236,000 patients at around 3,082 centers. However, the company reported a $16 million loss on the sale of its vascular access business.
DaVita Inc. (NYSE: DVA) has announced a quarterly conference call scheduled for July 30, 2020, at 5:00 p.m. Eastern Time to discuss its second-quarter results. Results will be released after market close on the same day. Investors can access the call via phone at 877-918-6630 (international 517-308-9042) or through a webcast on the DaVita IR web page. The company is a leading provider of kidney care services, treating 207,000 patients across 2,772 outpatient centers in the U.S. as of March 31, 2020.
DaVita Kidney Care announced the appointment of Mandy Hale as the new chief nursing officer, effective immediately. Hale previously served as vice president of nursing, managing over 18,000 nurses. With a career spanning over two decades at DaVita, she has held various leadership roles, enhancing nursing strategy and patient care. Hale's educational qualifications include a Master of Science in nursing, an MBA, and a doctorate of nursing practice. CEO Javier Rodriguez praised her leadership qualities, anticipating a positive impact on patient care.