DaVita(NYSE) DVA

DaVita helps people with kidney failure get the life-sustaining treatments they need. It runs medical centers that clean toxins from the blood when kidneys stop working. The company also supports patients who choose to perform their own treatments at home.

What DaVita Does

• U.S. Dialysis: Provides outpatient, hospital, and home-based kidney cleaning services; represents 86% of revenue in 2025.
• Integrated Kidney Care: Coordinates full-scale health management for 75,400 patients in risk-based or value-based payment programs.
• International Operations: Manages or owns 585 outpatient dialysis centers in 14 countries outside the United States.
• Ancillary Services: Operates clinical research programs and specialized laboratories for kidney-related testing.

Growth and Expansion

• Sold the DaVita Medical Group business to a subsidiary of Optum on June 19, 2019, to focus on kidney care.
• Acquired MedSleuth, a transplant software company, to improve the connection between patients and transplant centers.
• Expanded the international network to serve 94,500 patients in countries like Brazil, Colombia, and Germany by December 31, 2025.
• Invested in the Comprehensive Kidney Care Contracting model to manage late-stage disease and promote home dialysis.

What Makes the Village Different

The company maintains a vast network of 2,657 U.S. clinics and partners with nearly 5,200 nephrologists, which are doctors specializing in kidney health. Its scale allows it to run a specialized laboratory and a venture group focused on new medical device technologies.

The Scorecard

• Revenue reached $3.6 billion in Q4 2025, up 9.9% from Q4 2024.
• Net income was $234.2 million in Q4 2025, down 9.7% year-over-year.
• Free cash flow hit $395.3 million in Q4 2025, up 4.9% from the previous year.
• Operating income was $551.2 million in Q4 2025, a 2.5% decrease from Q4 2024.
• The company provided dialysis to 200,500 patients in the U.S. as of December 31, 2025.

Bottom Line

DaVita has shifted from a traditional clinic operator to a provider of integrated, value-based kidney care. This evolution focuses on managing the entire patient journey from early disease stages to transplant support.