DaVita buys Renal Ventures for $415 million, adds 36 dialysis centers
In addition to the 36 dialysis centers, DaVita will take on several infusion and vascular centers in three states.
Dialysis center operator DaVita HealthCare Partners on Monday said it would buy competitor Renal Ventures for $415 million, adding another 36 centers in six states.
In addition to the 36 dialysis centers, DaVita will take on several infusion and vascular centers in three states.
DaVita runs 2,210 clinics in 46 states, the company said.
[Also: As star ratings take hold, dialysis provider DaVita says treatments are on the rise]
Credit Suisse acted as financial advisor to the deal.
For DaVita, the deal is just the latest news in what has been a busy 2015 for the healthcare provider.
Earlier this year, Denver-based DaVita saw more than half of its centers rated as five-stars when the Centers for Medicare and Medicaid released its first rankings of dialysis centers.
However, in June the company was forced to pay $450 million to settle charges that certain clinic operators devised schemes to maximize the amount of drugs it wasted so it could bill Medicare more for those reimbursements.
[Also: DaVita Healthcare, facing OIG subpoena, to pay $450 million in fraud settlement over drug waste]
The Department of Health and Human Services' Office of Inspector General has also subpoenaed DaVita for its Medicare coding records going back from 2008 to the present.
DaVita in 2014 paid $350 million to settle another false claims lawsuit and this past March the company chief financial officer resigned.
The company said it has invested more than $25 million to shore up its legal compliance oversight.
Still, DaVita's record when it comes to the quality of treatment continues top competitors. The company has made reducing catheters a major goal and recently said it has reduced the use of catheters from 25 percent of patients to 13 percent.
Twitter: @HenryPowderly
