DaVita Up 4.6% After Acquiring HealthCare Partners

DaVita

is trading higher on the session following the announcement that it will acquire HealthCare Partners for $4.42 billion. The price consists of $3.66 billion in cash and approximately 9.38 million shares of DaVita common stock. Kent Thiry, Chairman and CEO of DaVita, stated, “We believe our combined enterprise will offer new and exciting levels of clinical quality, service, and consumer/taxpayer savings. DaVita currently executes on its integrated care mission with thousands of physician partners across the country for specialized kidney care services. HealthCare Partners executes on that same mission across a full and deep array of healthcare services in three geographic markets. This combination will create a unique patient- and physician-focused organization.” DaVita is currently trading at $84.56, a gain of $3.75 or 4.64%.