DaVita Inc. - DVA STOCK NEWS

DaVita Kidney Care has expressed gratitude following the defeat of Proposition 23 in California, which could have threatened access to dialysis for over 80,000 patients. The company criticized the SEIU-UHW labor union for its opposition to the dialysis community and reaffirmed its commitment to prioritizing patient health and safety. DaVita is a leading provider of kidney care services in the U.S., serving 205,300 patients at 2,809 centers nationwide as of September 30, 2020, and has been a pioneer in clinical quality and innovation in kidney care.

DaVita Inc. (NYSE: DVA) reported solid financial results for Q3 2020, with consolidated revenues of $2.924 billion and operating income of $438 million, achieving a 15.0% operating margin. Diluted earnings per share from continuing operations rose to $1.28, up from $0.99 in Q3 2019. The company repurchased over 8 million shares at an average cost of $88.13 and maintained strong cash flows, generating $483 million in operating cash flow. However, advocacy costs surged to $66 million due to efforts against union initiatives, impacting general and administrative expenses.

DaVita Clinical Research (DCR) will present 14 research abstracts at the American Society of Nephrology's Kidney Week from Oct. 22-25, 2020. This virtual event gathers over 13,000 kidney care professionals globally to discuss advancements in nephrology, particularly the impact of COVID-19 on dialysis patients. Key studies include topics on SARS-CoV-2 antibody tests in hemodialysis patients and racial disparities in kidney transplantation. DCR focuses on improving clinical outcomes through retrospective research and innovative practices in kidney care.

DaVita Inc. (NYSE: DVA) will host its quarterly conference call to discuss third quarter results on October 29, 2020, at 5:00 p.m. Eastern Time. The company plans to release results after market close. Investors can join the call via phone or webcast. DaVita is a leading kidney care provider, serving over 205,300 patients at 2,795 outpatient dialysis centers in the U.S. as of June 30, 2020. The company emphasizes patient-centric care and has reduced hospitalizations while promoting high-quality standards in kidney care.

DaVita (NYSE: DVA) announced the results of its modified Dutch auction tender offer, concluding on September 14, 2020. The company successfully purchased 7,981,679 shares at $88.00 each, totaling $702.4 million, representing approximately 6.5% of its outstanding stock. This share repurchase will be financed through cash on hand. The tender offer reflects DaVita’s commitment to enhancing shareholder value amidst ongoing challenges, including the COVID-19 pandemic.

DaVita Inc. (NYSE: DVA) announced the preliminary results of its modified Dutch auction tender offer for up to $1.0 billion of its common stock, which concluded on September 14, 2020. A total of 8,000,679 shares were tendered at or below $88.00 per share, leading to an expected purchase at this maximum price for a total cost of approximately $704 million. This represents about 6.6% of the company's outstanding shares. DaVita plans to finance these purchases using cash on hand, with final results pending confirmation by the depositary.

DaVita Inc. has appointed Shawn Guertin as a new independent director, effective Sept. 15. Guertin brings nearly 35 years of health care experience, including senior roles at Aetna, Inc. and Coventry Health Care. His expertise in financial strategy and managed care aims to strengthen DaVita's efforts in transforming kidney care. DaVita's Board now includes ten directors, maintaining a diversity of 40% racial/ethnic and gender representation. The company operates 2,795 outpatient dialysis centers in the U.S., serving over 205,300 patients.

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.