DaVita Ready to Buy HealthCare Partners
By: Leon Castles
on Monday, May 21, 2012
DaVita which is a Denver based chain of kidney dialysis centers has now made an announcement that they are all set to buy HealthCare Partners. The company made an announcement that they will be paying HealthCare Partners with $4.42 billion if they make the deal and allow them to operate their medical offices in three states in the United States. The company also said that they have already signed the deal which indicates that they will be paying $3.66 billion in cash and additional 9.38 million shares that have a total value of $758 million.
It was just few months ago that DaVita decided that they would invest in Saudi Arabian company so that they can expand their services to Middle East. The company said that they will make use of the cash that they have through credit facilities and additional debt financing that they can use to cover the deal. DaVita also said that they are interested in going for HealthCare Partners as they have medical groups and physician networks in Central Florida, Southern Nevada and Southern California. The company also has 152 clinics and more than 700 physicians and a network of more than 8,300 independent doctors. HealthCare Partners have revenue of $2.4 billion with operating income around $488 million in the previous year.