Advertisement
U.S. Markets close in 5 hrs 54 mins
  • S&P 500

    5,140.24
    -9.18 (-0.18%)
     
  • Dow 30

    38,863.14
    +72.71 (+0.19%)
     
  • Nasdaq

    16,012.44
    -91.01 (-0.57%)
     
  • Russell 2000

    2,015.78
    -8.96 (-0.44%)
     
  • Crude Oil

    82.91
    +0.19 (+0.23%)
     
  • Gold

    2,155.00
    -9.30 (-0.43%)
     
  • Silver

    25.06
    -0.21 (-0.83%)
     
  • EUR/USD

    1.0858
    -0.0019 (-0.1737%)
     
  • 10-Yr Bond

    4.3180
    -0.0220 (-0.51%)
     
  • Vix

    14.56
    +0.23 (+1.61%)
     
  • GBP/USD

    1.2700
    -0.0029 (-0.2261%)
     
  • USD/JPY

    150.7120
    +1.6140 (+1.0825%)
     
  • BTC-USD

    63,126.27
    -4,159.47 (-6.18%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,717.84
    -4.71 (-0.06%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

DaVita Eyes Expansion Into Brazil

On Wednesday, DaVita HealthCare Partners Inc. (DVA) announced that it will be expanding its footprint in emerging markets by beginning operations in Brazil. This leading global provider of kidney care services already operates in 11 countries, serving more than 1.5 million patients.

DaVita says it will help Brazilian physicians grow their practice by offering access to a worldwide network of experts, best-in-class training programs and the most advanced clinical and administrative service standards.

More than 110,000 Brazilians require dialysis, and studies suggest that number will increase with the rising prevalence of chronic kidney disease in the country.

Dennis Kogod, CEO of DaVita's international operations, said:

In addition to bringing DaVita's leading kidney care services to the country, we look forward to partnering with the Brazilian government and payors in establishing and expanding integrated care functions.

ALSO READ: Stifel Says Not to Wait for Oil to Bottom: 4 Stocks to Buy Right Now

Besides being a Fortune 500 company, DaVita is a significant holding of Warren Buffett’s Berkshire Hathaway Inc. (BRK-B) as well. As of the most recent filing, the stake was more than 38.5 million shares. That was almost 18% of the outstanding shares, making Berkshire the largest single holder. Berkshire had raised its stake in DaVita on and off until earlier this year, and it has a standstill agreement not to buy more than 25% of the company.

DaVita shares have had a rough ride this summer, falling more than 10% in the past three months and reaching a new 52-week low this week. The S&P 500 has fallen more than 8% in that time. The stock closed at $71.18 on Tuesday, within a 52-week range of $70.12 to $85.17. The analysts’ mean price target for the shares is $85.60.

Related Articles

Advertisement