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DaVita eyes acquisitions, share buy-backs with cash windfall

Ed Sealover
American City Business Journals

Flush with $4.9 billion in cash from the pending sale of its medical group and as much as $130 million in expected benefits from federal tax reform, DaVita Inc. CEO Kent Thiry said Tuesday that the company will look to repurchase shares, grow its kidney-care business and make “a limited number of investments” in other health-care companies. The comments came during a quarterly earnings call — the Denver-based kidney-care provider’s first since it announced the sale of its disappointing managed-care unit, DaVita Medical Group, in December to Optum. Thiry told the Denver Business Journal the day after the sale announcement that the company will look at the possible acquisition of companies in other areas of health care andt, already had begun looking at opportunities that it could integrate into its existing divisions.