DaVita and Healthcare Partners announce merger
Healthcare Partners and DaVita are to merge.
Following business negotiations, Healthcare Partners and DaVita have revealed they have gone into a definitive merger agreement.
If the combination takes place, the new firm is expected to be called DaVita Healthcare Partners and DaVita will pay a purchase price of around $4.42 billion (£2.79 billion), with this consisting of 9.38 million common stock shares and $3.66 billion in cash.
The tie-up is predicted to take place in the final quarter of 2012, subject to consideration of contingents and post-close adjustments.
Chie executive officer and chairman of DaVita Kent Thiry said the joined firm will provide "new and exciting levels of clinical quality, service and consumer/taxpayer savings".
"This combination will create a unique patient and physician-focused organisation," he added.
Healthcare Partners had been identified as one of California's top-performing medical institutions in 2011, marking the eighth year in the row in which it had been named as such and making it one of seven firms in the Los Angeles area to be honoured with this classification.
Posted by Edel Quinn
Source: DaVita press release, May 21st