M&A Deal Summary

DaVita Acquires Physicians Dialysis

On September 1, 2004, DaVita acquired healthcare services company Physicians Dialysis from Halpern Denny and Ferrer Freeman for 150M USD

Acquisition Highlights
  • This is DaVita’s 6th transaction in the Healthcare Services sector.
  • This is DaVita’s 4th largest (disclosed) transaction.
  • This is DaVita’s 6th transaction in the United States.
  • This is DaVita’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2004-09-01
Target Physicians Dialysis
Sector Healthcare Services
Buyer(s) DaVita
Sellers(s) Halpern Denny
Ferrer Freeman
Deal Type Add-on Acquisition
Deal Value 150M USD

Target

Physicians Dialysis

Beverly, Massachusetts, United States
Physicians Dialysis, Inc. provides dialysis treatment and renal care services.

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Buyer(S) 1

Buyer

DaVita

Denver, Colorado, United States
Category Company
Founded 1994
Sector Healthcare Services
Employees70,000
Revenue 12.1B USD (2023)
DESCRIPTION

DaVita provides various healthcare services to patient populations throughout the United States and abroad. A provider of kidney care in the United States, DaVita delivers dialysis services to patients with chronic kidney failure and end-stage renal disease. DaVita was founded in 1994 and is based in Denver, Colorado.

DEAL STATS #
Overall 6 of 25
Sector (Healthcare Services) 6 of 24
Type (Add-on Acquisition) 2 of 15
State (Massachusetts) 1 of 1
Country (United States) 6 of 21
Year (2004) 4 of 10
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-15 Health Care Dynamics - Kidney Dialysis Centers

United States

Health Care Dynamics - Kidney Dialysis Centers provide hemodialysis and continuous ambulatory peritoneal dialysis (CAPD) services to patients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-29 DaVita-Riverside

Riverside,, California, United States

DaVita-Riverside, LLC owns and operates kidney dialysis centers.

Buy -

Seller(S) 2

SELLER

Halpern Denny

Boston, Massachusetts, United States
Category Private Equity Firm
Founded 1991
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Halpern, Denny & Co. is a private equity investment firm that targets management buyouts and high growth, late stage expansion financings. In general, investments range between $5 million to $50 million per portfolio company. Investments less than $5 million are considered if the potential for return is either very high or if there is a follow-on investment opportunity. Moreover, investments up to $100 million can be completed with Halpern Denny co-investors. Industries of particular interest to Halpern, Denny & Co. include consumer, media/communications, distribution, specialty manufacturing, and healthcare. Halpern, Denny & Co. was formed in 1991 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 12
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 1 of 6
State (Massachusetts) 1 of 2
Country (United States) 1 of 12
Year (2004) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Team Express Distributing

San Antonio, United States

Team Express is the leading multi-channel marketer of baseball and football related equipment. The Company, started in 1990, has been dedicated to providing fanatical customer service and ease of shopping to the baseball and softball players who demand the best performance products

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-07 Beacon Hospice

Charlestown, Massachusetts, United States

Beacon Hospice is a hospice company in New England. The Company provides palliative care to patients in acute care, long term care and home settings.

Buy -
SELLER

Ferrer Freeman

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 1995
PE ASSETS 900M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Ferrer Freeman & Co. (FFC) is a private equity firm that invests exclusively in healthcare companies generating sales minimum $20 to $200 million. FFC also invests in clinical products and outsourcing/infrastructure businesses serving the healthcare sector. FFC looks to commit $10 to $40 million per transaction and focuses primarily on growth capital financings and build-ups. However, the Firm will also selectively fund buyouts as well. Ferrer Freeman & Co. LLC was formed in 1995 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 3 of 24
Sector (Healthcare Services) 2 of 11
Type (Add-on Acquisition) 2 of 15
State (Massachusetts) 1 of 1
Country (United States) 3 of 24
Year (2004) 2 of 2
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-01 GeneraMedix Pharmaceuticals

Libert Corner, New Jersey, United States

GeneraMedix Pharmaceuticals, based in Liberty Corner, New Jersey, is an international generic pharmaceutical company primarily focused on the development and sale of injectable products utilized in hospitals and specialty clinics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 IntelliClaim

Norwalk, Connecticut, United States

IntelliClaim provides group health insurers, managed care organizations and other claims payors with a service that uses proprietary tools and technology to reduce medical costs and administrative expenses. IntelliClaim, Inc. was sold to McKesson Corporation (NYSE: MCK) in 2005.

Sell -
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