DaVita Acquires Majority Stake in Lehbi Care, Saudi Arabia
DaVita Inc. (NYSE: DVA) today announced it has acquired a controlling interest in Lehbi Care, a leading Riyadh-based kidney care company. DaVita® will actively manage the three Lehbi clinics in operation in Riyadh and is planning to expand home modality options and build a vascular access center.
“Saudi Arabia is an important market for DaVita in the Middle East,” said DaVita Chairman and CEO Kent Thiry. “We will continue to look for areas of solid, long-term growth that are a fit and close a gap in needed services.”
Lehbi Care currently treats 400 patients at three hemodialysis clinics throughout Riyadh. Patients will have greater access to treatment options and more effective care with a vascular access center and home hemodialysis and peritoneal dialysis.
“It has been exciting to develop a strong relationship with Dr. Allehbi and the nurses,” said Dennis Kogod, DaVita chief operating officer. “The collaboration between DaVita and Lehbi Care will be one where both sides gain and patients benefit.”
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.