History of DaVita in Timeline

DaVita Inc. is a major provider of kidney dialysis services, operating a large network of outpatient centers across the United States and in several international locations. They primarily focus on treating patients with end-stage renal disease (ESRD), delivering essential dialysis treatments to a significant patient population. With a substantial market share in the U.S. dialysis industry, DaVita plays a crucial role in providing life-sustaining care to individuals with kidney failure. The company is organized in Delaware and headquartered in Denver.

1979: Company Founded

In 1979, the company was founded as Medical Ambulatory Care, Inc., a subsidiary of National Medical Enterprises, Inc. (now Tenet Healthcare).

August 1994: Acquisition by DLJ Merchant Banking Partners and Name Change

In August 1994, DLJ Merchant Banking Partners acquired 70% of the company in a leveraged buyout for $75.5 million, including a $10.5 million investment by DLJ. Following this, the company changed its name to Total Renal Care Holdings, Inc.

October 1995: Initial Public Offering

In October 1995, the company became a public company through an initial public offering (IPO), raising $107 million.

1995: Stock value increasing

Between 1995 and 1998, the company's stock value tripled.

December 1996: DLJ Investment Return

By December 1996, DLJ had realized a 386% return on its initial $10.5 million investment in the company.

February 27, 1998: Acquisition of Renal Treatment Centers

On February 27, 1998, the company acquired Renal Treatment Centers for $1.3 billion in stock.

1998: Stock value increasing

Between 1995 and 1998, the company's stock value tripled.

July 1999: CEO and CFO Resignation

In July 1999, the CEO and CFO of the company resigned after a poor integration. By July 1999, the stock price was down 71% year-to-date.

October 1999: Kent J. Thiry Named CEO

In October 1999, Kent J. Thiry, then 43 years old, was appointed as the new CEO of the company.

October 2000: Company Renamed DaVita Inc.

In October 2000, the company underwent a rebranding and was renamed DaVita Inc.

2000: Sale of Non-U.S. Operations

In 2000, the company divested its operations outside of the United States.

October 2005: Acquisition of Gambro Healthcare

In October 2005, DaVita Inc. expanded its operations by acquiring Gambro Healthcare.

2012: Acquisition of Healthcare Partners

In 2012, DaVita acquired Healthcare Partners for $4.42 billion, expanding its healthcare services.

October 2014: Settlement for Illegal Kickbacks

In October 2014, DaVita agreed to pay $350 million to settle claims related to providing illegal kickbacks to doctors.

2014: Acquisition of Colorado Springs Health Partners

In 2014, DaVita acquired Colorado Springs Health Partners, which had 600 employees and 110,000 patients, increasing its patient base and workforce.

June 2015: Settlement for Improper Drug Disposal

In June 2015, DaVita agreed to pay $450 million to resolve allegations of unnecessarily disposing of drugs and subsequently billing the U.S. federal government for the waste.

March 2016: Acquisition of The Everett Clinic Medical Group

In March 2016, DaVita acquired The Everett Clinic Medical Group, a 20-site physicians practice with 315,000 patients in the Seattle area, for $385 million.

September 2016: Healthcare Partners Renamed DaVita Medical Group

In September 2016, Healthcare Partners was renamed DaVita Medical Group, consolidating the brand identity.

May 2017: Acquisition of WellHealth Quality Care

In May 2017, DaVita further expanded its healthcare portfolio by acquiring WellHealth Quality Care.

June 2018: Wrongful Death Claims Award

In June 2018, a jury awarded the families of three DaVita patients $383 million in wrongful death claims after the patients died from cardiac arrest following treatment at DaVita centers.

October 2018: Settlement for False Claims Act Violations

In October 2018, DaVita agreed to pay $270 million to settle allegations of violating the False Claims Act by providing inaccurate information that caused Medicare Advantage Plans to receive inflated payments. James Swoben, a whistleblower, received $10 million.

June 2019: Sale of DaVita Medical Group to Optum

In June 2019, DaVita sold its DaVita Medical Group division to UnitedHealth Group's Optum division for $4.3 billion.

July 2021: Indictment for Labor Market Collusion

In July 2021, DaVita and former CEO Kent Thiry were indicted by a federal grand jury on charges of labor market collusion, specifically conspiring with Surgical Care Affiliates to suppress competition for senior-level employees.

April 2022: Acquittal in Labor Market Collusion Case

In April 2022, DaVita and former CEO Kent Thiry were acquitted by a jury on charges of labor market collusion.

2023: Revenue and Patient Coverage

In 2023, DaVita's revenue was largely derived from Medicare and other government-based health insurance programs (67%), while these programs covered 89% of the company's patients. Commercial payers, contributing 33% of revenue in 2023, accounted for nearly all of the company's profit because they reimburse at a much higher rate.