DaVita Announces New Corporate Headquarters in Denver, Colorado

[David13]

DaVita Announces New Corporate Headquarters in Denver, Colorado
Central Operations of FORTUNE 500 Company to Be Located in Denver Metropolitan Area

DENVER, May 27 /PRNewswire-FirstCall/ -- DaVita Inc. (NYSE: DVA), a leading provider of kidney care services for those diagnosed with chronic kidney disease (CKD), today announced the home of its corporate headquarters will be located in Colorado. The announcement was made during a press conference on the Galleria of the Denver Performing Arts Complex by DaVita Chairman and Chief Executive Officer Kent Thiry, who was joined by Denver Mayor John Hickenlooper.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020729/DAVITALOGO)

Thiry plans to move to the Denver area along with several other senior executives, but relocation efforts are not currently planned for teammates working in the current El Segundo, California headquarters or elsewhere around the company.

Since DaVita started in 1999, it has grown to become a FORTUNE 500(R) company with nearly $6 billion in annual revenues and clinical outcomes widely and consistently recognized as the best or among the best in the kidney care industry. The company operates more than 1,400 outpatient dialysis centers and acute units in more than 700 hospitals in 43 states and the District of Columbia. DaVita - which is Italian for "giving life" - currently has more than 32,000 teammates around the nation and serves more than 114,000 patients with life-saving kidney care treatment. In fact, nearly one-in-three dialysis patients in the United States is a DaVita patient.

"We're very pleased to announce our search is over and we've selected the Denver area to make our home," said Kent Thiry, Chairman and Chief Executive Officer of DaVita. "I want to thank Governor Ritter, Mayor Hickenlooper and their staffs for making such a tremendous effort in helping us choose Colorado."

The decision to select the Denver area for DaVita's corporate headquarters was based on four critical factors:

    1. The city's geographic location is ideal for a nationwide company with
       facilities and operations spread across nearly every state in the
       country;
    2. The relative costs in the area are less expensive for families and
       companies alike;
    3. Denver is widely considered to be a highly desirable place to live and
       work; and

    4. DaVita's significant existing presence in the region provides a solid
       foundation upon which the company can continue to grow.


The company expects to see millions of dollars in savings over time as a result of the change.

"DaVita's decision to move its headquarters is a great coup for metro Denver and the state of Colorado," said Denver Mayor John Hickenlooper. "DaVita is one of the biggest and the best in its industry. The company's decision reaffirms what we know is true about our community - that Denver is one of the best places in the nation to work and play. We are proud DaVita chose to call Colorado home."

"While Colorado families and businesses continue to struggle, we are clearly seeing encouraging signs of economic activity - and DaVita's decision to move its headquarters to Colorado tops the list," said Governor Bill Ritter. "Colorado's business-friendly climate and my administration's strategy to create new jobs, help businesses survive the downturn, and develop a highly skilled 21st century labor pool are positioning Colorado for a strong and sustainable recovery. On behalf of people throughout the state, we heartily welcome DaVita's Colorado expansion and we congratulate Mayor Hickenlooper and all those who helped make these new jobs a reality."

As part of DaVita's extensive network of outpatient facilities and acute units, DaVita has nearly 30 outpatient facilities statewide and a total of nearly 800 employees serving approximately 2,000 kidney care patients around the state.

DaVita(R) is a registered trademark of DaVita Inc. All trademarks are the property of their respective owners.

[okarol]

El Segundo losing DaVita Inc. to Denver

By Muhammed El-Hasan, Staff Writer
Posted: 05/27/2009 09:45:01 AM PDT


DaVita Inc., the El Segundo-based operator of kidney dialysis centers nationwide, announced Wednesday that it plans to move its corporate headquarters to the Denver area.

DaVita Chairman and CEO Kent Thiry will move to the new headquarters along with several other senior executives. However, "relocation efforts are not currently planned" for the roughly 250 employees in El Segundo, the company said in a statement.

As a result, some administrative operations are expected to remain in El Segundo, at least for the foreseeable future, a spokesman said.

No timeline was set for the headquarters move.

"The operations in El Segundo are largely going to remain the same," spokesman Brad Chase said in an interview from Denver. Kent Thiry and several senior executives (will move). Beyond that, several people may be asked or it may make sense for them to move in the future. But at this point, there's no relocation effort."

As a result, the El Segundo "head count will not be changing significantly," he said.

DaVita said its decision to leave El Segundo was based on four factors:

A desire to be centrally located in the United States because the company has locations in nearly every state.

The Denver area's relatively low business and living costs.

Denver is considered a "highly desirable place to live and work," the release said.

DaVita already has a major presence in the region, providing a "solid foundation upon which the company can continue to grow," the release said.

In addition, DaVita will receive tax breaks to relocate to Colorado.

DaVita said it expects "millions of dollars in savings over time" because of the move.

muhammed.el-hasan@dailybreeze.com

El Segundo losing DaVita Inc. to Denver

[paul.karen]

Cant blame anyone for moving to colorado.

And to save money on tax breaks is a big plus. Many business are moving there from the US and afar.  many companies here in jersey are thinking of moving out of state due to crazy taxs.  Texas and colorado will soon be big players in big companies with there nice incentive packages.

[okarol]

I am just wondering if they will pass the savings on to patients and Medicare. 

[paul.karen]

LOL  does the government lower taxs.
I wish i could be positive and say yes. And i hope they do.
But from what i have read here this Kent guy likes to party.   So bigger more lavish parties with beautiful mountains as the background.

[David13]

I am just wondering if they will pass the savings on to patients and Medicare. 

Good question. . .

[dialysisbiller]

i'll have to say 'no'- medicare rates have nothing to do with company operations. it means if they save money on taxes, the company saves money.

They have frozen pay raises for people in the CBOs (corporate business offices)for 2009.....and all but eliminated bonuses in the CBOs.

Those eliminations began back in '06 so I'm not really complaining because I came in just before that and didn't get an opportunity to get monthly checks the way some used to get them. It's a sign of the times. I am really glad I still have my job, pays good AND I actually enjoy what I do.

[dwcrawford]

Who follows Davita in the market?  I was thinking they make lots of money and there will be kidney failure for a long while, that it might be a good investment, but since I've been checking it, it has constantly gone down.  However; so has everthing else.  Does anybody know  any significant history of the Company?  I'd never heard of it until.... (well, you know.)

I really can't understand the corporate structure.

[dialysisbiller]

stock symbol DVA- on yahoo you can search it and look at some history there.

i think it gives you a run down of when it began and some things..... i've seen it go as high as 62 and as low as about 40.... that's over the past 3-4 years.... not sure it will go much higher than 60 again... investing in stock is like gambling... never know where it really is going to go

[dwcrawford]

Well, it can be a very conserve "bet" or otherwise.  Depends on how much research you do.  However, the best investment I ever made was a real gamble (and most people thought it was a joke).  From 60 to 40 is about what most conservative stocks have done the past year (percentage wise).  Just thinkiing since I spend so much time there I might as well get something out of it besides a sore back and cramps.  joke.