DAVITA INC. (DVA)

DaVita Inc. is a leading healthcare provider focused on comprehensive kidney care. It has operated for more than 25 years and cares for patients at every stage of kidney health, from slowing the progression of chronic kidney disease to supporting transplantation. Care is delivered at home, in dialysis centers, in hospitals and in skilled nursing facilities. The company sold its DaVita Medical Group business to a subsidiary of Optum in June 2019, and that business is reported as discontinued operations.

The largest business is U.S. dialysis and related lab services, which accounted for about 86% of consolidated revenues in 2025. As of December 31, 2025, it served approximately 200,500 patients through 2,657 outpatient dialysis centers in 46 states and the District of Columbia. It also had contracts to provide inpatient dialysis in about 740 hospitals and offered home-based hemodialysis and peritoneal dialysis support. It operates a separately licensed clinical laboratory specializing in ESKD patient testing and provides management and administrative services to 52 U.S. centers that are partly owned or wholly owned by third parties. The company's ancillary services consist of the U.S. integrated kidney care (IKC) business, U.S. other ancillary services and international operations. IKC provided care management to 66,000 patients in risk-based arrangements and 9,400 in other arrangements. It participates in Medicare Advantage ESRD Chronic Special Needs Plans and the CMMI Comprehensive Kidney Care Contracting model. Internationally, the company provided dialysis and administrative services to 585 outpatient centers in 14 countries, serving about 94,500 patients. A corporate administrative function supports the U.S. dialysis business and the ancillary services.

Its customers are patients with chronic kidney failure (ESKD), who need dialysis or a transplant to survive. Over 557,000 ESKD dialysis patients were in the U.S. in 2023, according to USRDS. U.S. dialysis patient service revenues in 2025 came 68% from government programs: Medicare and Medicare Advantage 57%, Medicaid and managed Medicaid 7%, and other government programs 3%. Commercial payors, including hospital dialysis services, provided 32%. About 89% of U.S. dialysis patients were covered by government programs. Commercial payments are generally higher than Medicare rates and generate nearly all of the company's profits. Medicare pays under a single bundled rate (ESRD PPS) that is adjusted by the Quality Incentive Program, so reimbursement policy is central to the business.

Each U.S. dialysis center is run by an administrator and staffed with registered nurses, licensed practical or vocational nurses, patient care technicians, a social worker, a dietitian and biomedical technicians. Centers contract with a nephrologist or nephrology group as medical director. Clinical oversight comes from domestic and international Offices of the Chief Medical Officer and a Physician Council. The company reports an industry-leading position in the CMS Quality Incentive Program and Five-Star Quality Rating System. The text does not name suppliers, manufacturing arrangements, competitors or headquarters.