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Stock Market & Financial Investment News

News Breaks
January 20, 2013
20:50 EDTDVADaVita forms JV with RHC in Taiwan
DaVita, the kidney care division of DaVita HealthCare Partners announced the formation of a joint venture with Riches Healthcare, RHC, through which a new entity – DaVita Taiwan – will provide services to four dialysis clinics. DaVita will own a majority share of the joint venture entity. "Expanding our presence into Taiwan is a key step in our long-term growth strategy in Asia," said Dennis Kogod, chief operating officer at DaVita.
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June 24, 2015
06:32 EDTDVADaVita discloses it received subpoena from Inspector General
In a regulatory filing, DaVita disclosed that the company recently received a subpoena from the Office of Inspector General, U.S. Department of Health and Human Services. This civil subpoena covers the period from January 1, 2008 through the present and seeks production of a wide range of documents relating to the company’s and its subsidiaries’ provision of services to Medicare Advantage plans and Medicare Advantage organizations and related patient diagnosis coding and risk adjustment submissions and payments. DaVita believes that the request is part of a broader industry investigation into Medicare Advantage patient diagnosis coding and risk adjustment practices and potential overpayments by the government. In the event that the company were to incur liability related to this matter, the company would pursue an indemnification claim against the sellers secured by the escrow. We can make no assurances that the indemnification and escrow would cover the full amount of our potential losses related to this matter. The company is cooperating with the government and will gather and produce the requested information.
06:30 EDTDVADaVita discloses Robert Margolis not re-nominated as co-chairman of company
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