DaVita to spend $55 million less on Renal Ventures acquisition

DaVita Inc.’s acquisition of dialysis provider Renal Ventures is expected to close in the first quarter of 2017 for $55 million less than the previously announced purchase price, said DaVita Kidney CEO Javier J. Rodriguez during a Nov. 2 earnings call. Rodriguez said the price was lowered to $360 million because of a decision not to acquire the company’s infusion business.

DaVita Inc. reported that net income for the third quarter of 2016 was $571 million, or $2.76 per share, which included a gain on changes in ownership interest upon the formation of the Asia Pacific dialysis joint venture, an increase of 176% compared to the same quarter last year. Adjusted net income excluding this item was $197 million, or $0.95 per share, a decrease of 5% compared to the same quarter of 2015.

Total U.S. dialysis treatments for the third quarter of 2016 were 6,887,992, or 87,190 treatments per day, representing a per day increase of 4.2% over the third quarter of 2015. Normalized non-acquired treatment growth in the third quarter of 2016 as compared to the third quarter of 2015 was 4.4%.

As of September 30, 2016, the company provided dialysis services to approximately 199,000 patients at 2,457 outpatient dialysis centers, of which 2,318 centers were located in the United States and 139 centers were located in 11 countries outside of the United States. During the third quarter of 2016, DaVita opened 28 new dialysis centers and closed three dialysis centers in the United States. The company also acquired eight dialysis centers and opened four new dialysis center outside of the United States. -by Rebecca Zumoff