May 31, 2002 - DaVita Inc., the second-biggest operator of kidney dialysis clinics in the U.S., said it would buy back as much as $225 million of its shares. Story from Bloomberg Financial News.

May 15, 2002 - DaVita revised and extended a tender offer to purchase its stock for the second time in a month. It will now offer 15 million shares for purchase at $21 to $25 apiece. Previously, DaVita offered 20 million shares at $22 to $26 each. Story from PRNewswire/Yahoo.

May 11, 2002 - During a conference call yesterday, DaVita revealed that that the subpoena received this week from the U.S. Department of Health and Human Services seeks documents from May 1996 to the present. Story from Bloomberg Financial News.

May 10, 2002 - DaVita today announced results for the quarter ended March 31, 2002. The initial report from DaVita focuses on "EBITDA excluding accounts receivable recoveries". Press release from DaVita by PRNewswire/Yahoo.

DaVita will hold a conference call to discuss its first quarter 2002 results on May 10, 2002 at 10 am EDT. The dial-in number is 800-399-4406. A replay of the conference call will be available on DaVita's official web page, www.davita.com, for 30 days. Topics may include two issues that have arisen in the last week, the OIG subpoena and the Florida law on lab self-referral.

May 8, 2002 - DaVita announced that on May 7 it received a subpoena from the Philadelphia office of the U.S. Department of Health and Human Services, Office of the Inspector General, for the production of documents relating to pharmaceutical and other ancillary services provided to patients, as well as documents relating to the Company's financial relationships with physicians and pharmaceutical companies. Story from PRNewsWire/Yahoo.

DaVita stock dropped on the news. Story from Bloomberg Financial News.

Here is the one-year stock price chart for DaVita.

The subpoena also calls upon DaVita to update its previous response to the information request received in February 2001 from the Civil Division of the United States Attorney's Office in Philadelphia. Here is the February 2001 press release from DaVita regarding that subpoena.

Here is the DaVita web site. DaVita operates 495 outpatient dialysis facilities serving 43,000 patients. DaVita was previously known as Total Renal Care.

May 3, 2002 - DaVita has announced that it has extended its previously announced offer to purchase up to 20,000,000 of its common shares for ten business days, until 9:00 a.m. EDT on Friday, May 17, 2002. This tender offer was previously scheduled to expire at 9:00 a.m. EDT on Friday, May 3, 2002. Story from PRNewswire/Yahoo.

April 26, 2002 - DaVita announced that it has completed its tender offer for all of its outstanding 9.25% Senior Subordinated Notes due 2011. Story from PRNewswire/Yahoo.

April 24, 2002 - DaVita has now revised the previously announced (see March 15 story) consideration to be paid in its cash tender offer for all of its outstanding 9.25% Senior Subordinated Notes due 2011. Story from PRNewsWire/Yahoo.

April 22, 2002 - DaVita has increased the price range for its share repurchase program, but lowered the number of shares in the buyback. DaVita lowered the number of shares to 20 million from 24 million, but raised the price range to $22 to $26 per share from $20 to $25 per share. Story by Reuters/Yahoo.

April 8, 2002 - DaVita announced that it has received the requisite consents for its 9.25% Senior Subordinated Notes due 2011. Press release from PRNewswire/Yahoo.

April 2, 2002 - DaVita has provided a Frequently Asked Questions page about its upcoming stock repurchase.

March 21, 2002 - DaVita commenced its previously announced tender offers for up to 24,000,000 shares of its common stock and any or all of its outstanding 9.25% Senior Subordinated Notes due 2011. Story from PRNewswire/Yahoo.

The stock tender offer will be made through a ``Modified Dutch Auction'' process that will consist of DaVita's offer to purchase up to 24,000,000 shares of its common stock at a purchase price between $20.00 and $25.00 per share net to the seller in cash, without interest. The closing sales price of DaVita's common stock on March 14, 2002, the day prior to DaVita's announcement of its intent to commence the tender offers, was $22.92 per share. Based on the number of shares tendered and the prices specified by the tendering stockholders, DaVita will determine the lowest single price per share within the price range that would allow it to buy 24,000,000 shares, or, if fewer shares are tendered, all shares tendered and not properly withdrawn. All shares purchased will be purchased at the same price. Only shares tendered at or below this price will be eligible for purchase by DaVita. If the number of shares tendered is greater than the number sought, purchases will be made on a pro rata basis from stockholders tendering at or below the purchase price.

March 18, 2002 - On Friday, March 15, DaVita Inc. stock rose $2.55, or 11 percent, to $25.47.

DaVita stock, which was available two years ago for $3, has been one of the recent top performers in the market. Here is a two-year history of the DaVita stock price.

March 15, 2002 - DaVita Inc., which operates 493 outpatient dialysis facilities serving approximately 43,000 patients, plans to repurchase up to 25,000,000 shares of its common stock and any or all of its outstanding 9.25% Senior Subordinated Notes due 2011. Story from PRNewswire/Yahoo.

February 26, 2002 - DaVita, Inc. announced its fourth quarter and year end results. Report from PRNewswire/Yahoo.

December 3, 2001 - DaVita announced that its Board of Directors has authorized the repurchase up to $200 million of the company's common stock.

November 5, 2001 - DaVita announced today that its third quarter earnings rose fourfold as it raised fees and improved bill collection. Net profit for the quarter was $44.3 million, compared with $9.7 million for the same quarter last year.

Here are the complete third quarter results.

At September 30, 2001, DaVita operated 492 outpatient centers in the continental U.S. serving 42,000 patients.

October 24, 2001 - Today's issue of Investor's Business Daily has an extensive article on DaVita's improved cash flow and its return to the dialysis facility acquisition market. (10/27 - Link to story no longer working.)

October 15, 2001 - DaVita announces appointment of Elizabeth B. Kelly as Vice President of corporate development, mergers, and acquisitions.

September 28, 2001 - This column from the Atlanta Business Journal states that Cignify Corporation, which makes electronic time clocks and employee attendance software, has landed a three-year, $1.5 million agreement with the dialysis services firm DaVita Inc. (The information appears in the middle third of the column.)

Cignify's PeopleNet system will be installed at DaVita's 460 dialysis centers across the country to track the attendance of its 12,000 employees.

August 2, 2001 - DaVita announced their second quarter and first half earnings yesterday.

DaVita will hold a conference call to discuss the second quarter 2001 results on Thursday, August 2, 2001 at 10:30 a.m. Pacific time, 1:30 p.m. Eastern time. The dial-in number is (800) 399-4406. A replay of the conference call will be available on DaVita's web site for 90 days.

Here is DaVita's one-year stock price history. DaVita currently treats 41,000 patients through a network of 486 owned and managed dialysis facilities located in 32 states and the District of Columbia.

May 9, 2001 - DaVita stock, which a year ago was available for $2.50 a share, yesterday traded at over $20.00 a share.

May 7, 2001 - DaVita released their first quarter earnings on Sunday morning, May 6. Net earnings for the first quarter were $21.3 million.

DaVita will hold a conference call to discuss its first quarter 2001 results and revised financial outlook on Monday, May 7, at noon Pacific time, 3 PM Eastern time. The dial-in number is 800-399-4406.

April 12, 2001 - DaVita announced that it has sold $225 million in 10-year senior subordinated notes. This is an increase from an originally planned $200 million.

April 5, 2001 - DaVita has set proposed yields of 9.25% to 9.5% on $200 million of 10-year subordinated notes which it plans to sell.

March 31, 2001 - Bloomberg Financial News is now reporting that DaVita plans to raise $625 million. (Scroll down page to "Junk Bonds" listings.)

$425 million would be in loans (less than the originally planned $500 million) and $200 million would be raised by selling 10-year senior subordinated notes. Investor meetings will run until April 5, with pricing to follow. DaVita's proposed notes are rated "B2" by Moody's.

Fresenius Medical Care raised $230 million for acquisitions last July.

March 28, 2001 - Bloomberg Financial News is reporting that DaVita plans to raise $700 million "from loans and the sale of junk bonds" in April.

February 27, 2001 - DaVita has announced their fourth quarter and year 2000 results.

February 22, 2001 - DaVita announced that it will hold an Internet-based conference call to discuss its fourth quarter earnings on February 27 at 11 am EST. Here is the web site that will carry the call.

Yesterday, Bloomberg Financial News issued an update about the DaVita billing investigation story that was released 16 days ago in order "to make clear (that the) Fresenius (billing fraud) case predated (FMC's) acquisition (of NMC)".

February 6, 2001 - One day after DaVita announced that it was cooperating with the US Attorney's investigation into its billing and business practices, two financial analysts were bullish on DaVita stock. One raised his recommendation to 'buy' and the other reiterated his 'strong buy' recommendation.

February 5, 2001 - The United States Attorney's Office for the Eastern District of Pennsylvania has begun a review of some of DaVita's billing and business practices (4:14 pm update).

The US attorney's office is investigating whether DaVita offered financial incentives for doctors to refer patients. DaVita CEO Kent Thiry said prosecutors were also looking into whether the company billed for treatments when all services had not been provided.

"This is a serious issue," Thiry said. "It would be irresponsible to suggest otherwise."

Here is a press release from DaVita on the situation.

DaVita's stock has dropped significantly on this news.

Here is the DaVita web site. As of December 31, 2000, DaVita operated 486 outpatient dialysis facilities serving 41,000 patients, including 4,400 patients in 48 centers under management. DaVita was previously known as Total Renal Care.

In January 2000, National Medical Care, which is owned by Fresenius Medicare Care AG, settled its health care fraud case for $486 million with the Justice Department. The settlement, largest ever at that time for a U.S. health-care fraud case, covered alleged fraud from 1987 to 1997. Whistle blowers in the related cases were scheduled to collect $65.8 million.