Davita (DVA) Stock News

Lex Ferenda Litigation Funding LLC (LF2) announced its expansion into Denver, Colorado, welcoming Andrew Kelley as Managing Director of Underwriting and Risk. Kelley, previously with DaVita Inc. (NYSE: DVA), brings extensive experience in dispute resolution, reportedly recovering hundreds of millions for clients. This strategic move aims to enhance LF2's capabilities in the US litigation finance market, promising quicker decisions and improved client engagement. The firm emphasizes its commitment to high standards in risk management and investment processes, fostering supportive partnerships for clients navigating litigation costs.

Medtronic and DaVita have launched Mozarc Medical, an independent kidney health technology company aimed at enhancing patient care. Announced on April 1, 2023, Mozarc Medical will leverage expertise from Medtronic's former Renal Care Solutions unit and DaVita's leadership to innovate in kidney health technologies. CEO Ven Manda emphasized the need for patient-centered solutions, particularly as demand for in-home kidney care rises. Both companies hold equal equity stakes in Mozarc Medical, which had combined revenues of $64 million, $63 million, and $70 million in the first three quarters of Medtronic's fiscal year 2023.

On March 13, 2023, DaVita Inc. (NYSE: DVA) announced that its Chief Financial Officer, Joel Ackerman, will participate in a fireside chat at the Barclays 2023 Global Healthcare Conference on March 14, 2023, at 3:05 p.m. EDT. Investors can access the live webcast by visiting the Barclays page and registering for free. DaVita, a leader in kidney care services, serves 200,000 patients across 2,724 outpatient dialysis centers in the U.S. and 350 centers in 11 other countries.

DaVita Inc. reported financial results for Q4 and the year ended December 31, 2022, with consolidated revenues of $2.917 billion for Q4 and $11.610 billion for the full year. Operating income for Q4 was $256 million while adjusted operating income reached $317 million. Diluted EPS from continuing operations was $0.59 for Q4 and $5.71 for the year. Notably, total U.S. dialysis treatments showed a daily decrease of 1.3% from the prior quarter. The company faced challenges with rising patient care costs and significant expenses linked to center closures and advocacy efforts against union initiatives.

DaVita Inc. (NYSE: DVA) announced on February 1, 2023, its upcoming quarterly conference call scheduled for February 22, 2023, at 5:00 PM Eastern Time to discuss its fourth quarter and full year results. The results will be released after the market closes on the same day. Investors can access the call via a dedicated webcast or by dialing in. DaVita is a leading healthcare provider specializing in kidney care, serving approximately 200,000 patients across 2,776 outpatient dialysis centers in the U.S. and 352 centers in 11 other countries as of September 30, 2022. For more information, visit DaVita.com/About.

DaVita has reported significant achievements in kidney care for 2022, highlighting a record referral rate for transplants with over 92,000 patients referred and approximately 7,800 kidney transplants performed. The company also launched DaVita Care Connect®, enhancing remote patient monitoring, and expanded its Chronic Kidney Disease & Rare Disease Network to promote diversity in research. DaVita Integrated Kidney Care (IKC) extended services to over 33,000 new patients and formed partnerships to enhance patient care. Furthermore, DaVita committed $15 million to support economic mobility and received multiple awards recognizing its workplace and sustainability efforts.

On December 20, 2022, DaVita announced its inaugural Move It with Purpose (MIWP) event, which raised over $650,000 for the nonprofit Bridge of Life. This fundraising effort has generated nearly $15 million since 2007, enhancing kidney care globally. Funds from this year's event will support increasing access to kidney transplants and dialysis, particularly in underserved areas like Guatemala. MIWP encouraged participation from the kidney care community, logging physical activities from October 1-November 15, with DaVita donating $1 for every mile logged, up to $250,000.

DaVita Clinical Research showcased its latest findings at ASN Kidney Week 2022, emphasizing advancements in kidney transplantation and patient care equity. The introduction of the Chronic Kidney Disease (CKD) & Rare Disease Network aims to enhance access to decentralized research and trials, increasing diversity in participant demographics. Key research topics presented include end-of-life care preferences among dialysis patients and the social factors affecting transplant waitlisting. DaVita continues to innovate in kidney care, aiming for better patient outcomes and treatment options.

DaVita reported challenging third-quarter results for the period ending September 30, 2022, with consolidated revenues of $2.949 billion and diluted earnings per share at $1.13. Labor pressures and COVID-related volume declines adversely impacted their financials. Operating income fell to $312 million, down from $433 million in the previous quarter. While the company repurchased 2.1 million shares, net income was significantly reduced to $105 million compared to $225 million in the prior quarter. Despite these challenges, DaVita remains confident in its kidney care platform.