DaVita

DaVita Inc. (NYSE: DVA) stands as America's preeminent kidney care provider and a global leader in transforming care delivery for patients with chronic kidney disease and end-stage renal disease (ESRD). Headquartered in Denver, Colorado, DaVita operates a comprehensive network of 3,113 outpatient dialysis centers as of September 30, 2024—with 2,660 centers located in the United States and 453 centers across 13 other countries worldwide. The company serves approximately 265,400 patients globally, commanding a commanding 37% market share in the critically important U.S. dialysis market. For 25 years, DaVita has been at the forefront of clinical quality and healthcare innovation, treating patients who require life-sustaining kidney dialysis treatments, typically three times per week for the rest of their lives unless they receive a kidney transplant.

The company's journey to its current position as an industry leader is a remarkable story of transformation and resilience. Founded in 1979 as Medical Ambulatory Care, Inc., and later known as Total Renal Care Holdings, Inc., the company faced near-bankruptcy in the late 1990s following aggressive debt-fueled expansion and failed acquisition integration. In October 1999, at the company's darkest hour, Kent J. Thiry was named CEO at age 43. Under his visionary leadership, the company underwent a complete cultural and operational transformation. In May 2000, more than 600 company leaders gathered to vote on a new name—DaVita, derived from the Italian phrase "Dare Vita" meaning "to give life"—and to establish the company's core values. This rebranding in October 2000 symbolized not just a name change but a fundamental shift in organizational culture and mission that would guide the company for the next quarter-century.

DaVita's remarkable turnaround accelerated in October 2005 with the transformative acquisition of Gambro Healthcare, which doubled the company's dialysis center footprint and symbolized the capstone of its recovery from near-bankruptcy. This acquisition, combined with relentless focus on clinical quality and operational excellence, propelled DaVita to industry leadership. In 2012, the company made a strategic diversification move, acquiring Healthcare Partners for $4.42 billion to expand into integrated care. However, recognizing the strategic value of focusing on its core kidney care competency, DaVita sold this division to UnitedHealth Group's Optum for $4.3 billion in June 2019, the same month that Javier Rodriguez succeeded Kent Thiry as CEO after Thiry's nearly 20-year transformative tenure.

DaVita's financial performance reflects its market leadership and operational strength. For fiscal year 2024, the company reported consolidated revenues of $12.816 billion, representing a 5.56% increase from the previous year. Full-year 2024 operating income reached $2,090 million with adjusted operating income of $1,981 million. The company generated $2,022 million in operating cash flow and $1,162 million in free cash flow. Diluted earnings per share for 2024 was $10.73, with adjusted diluted EPS of $9.68. DaVita returned $1,389 billion of capital to stockholders through share repurchases in 2024, reducing shares outstanding by approximately 9.3%.

As DaVita celebrates its 25th anniversary in 2025, the company continues to pioneer innovations in kidney care delivery. In 2024, 15% of DaVita patients were treated on a home modality, achieving double-digit home dialysis treatment growth—a critical advancement given the superior clinical outcomes and quality of life associated with home dialysis. Even more impressively, nearly 8,200 DaVita patients received kidney transplants in 2024, the provider's highest number of annual transplants ever, reflecting the company's commitment to supporting patients toward the best possible outcome: a functioning transplant. Looking forward, CEO Javier Rodriguez has positioned DaVita to continue its leadership through clinical excellence, operational efficiency, and commitment to transforming kidney care for patients worldwide.