DaVita Inc. - DVA STOCK NEWS

DaVita (NYSE: DVA), a leading kidney care provider, has announced key leadership changes effective September 15, 2024. David Maughan, an 18-year DaVita veteran, will become the new chief operating officer, succeeding Mike Staffieri, who transitions to chief operating officer emeritus after 11 years in the role.

Maughan brings extensive experience, having held various leadership positions at DaVita, including overseeing strategic functions for hospital and home treatment businesses. His leadership has impacted over 65,000 employees and 200,000 patients. Staffieri, with a 25-year tenure at DaVita, will continue working on key strategic initiatives to drive clinical differentiation in kidney care.

As of June 30, 2024, DaVita served approximately 265,100 patients at 3,124 outpatient dialysis centers globally, with 2,672 centers in the United States and 452 in 13 other countries.

DaVita Inc. (NYSE: DVA) has announced the pricing of a $1.0 billion private offering of 6.875% senior notes due 2032. The notes were priced at 100.000% of their face value, yielding a 6.875% coupon. The offering is expected to close on August 13, 2024, subject to customary conditions.

DaVita plans to use the net proceeds to repay a portion of its outstanding Term Loan B-1 facility maturing in 2026 and a portion of its revolving credit facility borrowings, pay related costs, and for general corporate purposes, including potential stock repurchases. The notes were offered only to qualified institutional buyers and certain non-U.S. persons, and have not been registered under the Securities Act.

DaVita Inc. (NYSE: DVA) has announced a private offering of $1.0 billion in senior notes due 2032. The company plans to use the proceeds to repay portions of its Term Loan B-1 facility maturing in 2026 and outstanding revolving credit facility borrowings. Any remaining funds will be used for general corporate purposes, including potential stock repurchases, working capital, and capital expenditures.

The 2032 notes are being offered exclusively to qualified institutional buyers and certain non-U.S. persons in compliance with SEC regulations. The offer and sale of these notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption.

DaVita Inc. (NYSE: DVA) reported its financial results for Q2 2024, ending June 30, 2024. Consolidated revenues reached $3.187 billion, with an operating income of $506 million. The company achieved a diluted EPS of $2.50 and adjusted EPS of $2.59. Operating cash flow was $799 million, while free cash flow was $654 million. Net income for the quarter was $223 million, down from $240 million in Q1 2024. DaVita repurchased 2.7 million shares at an average price of $140.14 per share. The company extended the maturity date for a portion of Term Loan B-1 amounting to $1.64 billion.

The U.S. dialysis volume increased by 1.1% over Q1 2024. Revenue per treatment for Q2 was $390.22 with patient care costs per treatment at $255.25. The company incurred $15.3 million in costs due to the closure of U.S. dialysis centers. DaVita operates 3,124 outpatient dialysis centers worldwide and serves approximately 265,100 patients.

DaVita Inc. (NYSE: DVA) has announced its upcoming second quarter 2024 investor conference call, scheduled for Tuesday, August 6, 2024, at 5:00 p.m. Eastern Time. The company plans to release its results after market close on the same day. Investors can access the call via webcast or by dialing in, using the password "Earnings".

DaVita is a leading kidney care services provider in the U.S., serving approximately 258,600 patients at 3,092 outpatient dialysis centers worldwide as of March 31, 2024. The company focuses on transforming care delivery to improve patients' quality of life globally, offering services at every stage of the kidney health journey.

DaVita (NYSE: DVA) has released its 2023 Community Care Report, showcasing its achievements in corporate social responsibility (CSR) and its commitment to its 2025 Environmental, Social, and Governance (ESG) goals. The report highlights milestones in five strategic areas: Patient Care, Teammate Engagement, Environmental Stewardship, Healthy Communities, and Leading with Integrity and Accountability.

Key achievements include over 8,000 kidney transplants, the highest number for DaVita to date, and over 37,000 participants in its Kidney Smart® program. In Teammate Engagement, more than 49,000 clinical teammates are involved in career pathways, and 2,300 teammates are pursuing nursing degrees funded by DaVita. Environmental efforts led to enough renewable energy to power 100% of U.S. operations and saved over 100 million gallons of water. In Healthy Communities, DaVita’s Health Tour provided thousands with free screenings, while volunteer hours reached 43,000+. Lastly, 99.9% of teammates completed compliance training, reflecting high commitment to integrity and accountability.

DaVita, a leading provider of kidney care services, appointed Madhu Narasimhan as the new Chief Information Officer (CIO) to accelerate technology-based innovations. Narasimhan will oversee the implementation of DaVita's health technology platforms, including CWOW®, a cloud-based patient data platform. With nearly two decades of experience in digital transformation, Narasimhan aims to streamline patient care and create efficient workflows across DaVita.

DaVita Inc. (NYSE: DVA) will participate in the BofA Securities 2024 Health Care Conference with its CFO and VP of investor relations engaging in a fireside chat on May 14th, 2024. DaVita is a leading health care provider specializing in kidney care services with a global reach. The company has a strong track record of clinical quality and innovation, serving over 258,600 patients across the U.S. and other countries. DaVita focuses on improving patient outcomes, reducing hospitalizations, and promoting high-quality care standards in the kidney care industry.

DaVita honored 54 nephrology nurses with the DAISY Award for Extraordinary Nurses, recognizing their outstanding patient care during National Nurses Week. The award underscores DaVita's commitment to clinical excellence and compassionate care in kidney disease treatment.