DaVita, a large Denver-based dialysis services provider, plans to sell its home infusion therapy business as it works to digest the $4.7 billion acquisition of medical group HealthCare Partners.
BioScrip, an Elmsford, N.Y., infusion services and home-care company, said today it has signed an agreement to buy DaVita's majority stake in HomeChoice Partners for $70 million in cash.
DaVita acquired an 85% stake in HomeChoice Partners, Norfolk, Va., for $65 million in 2007. HomeChoice Partners' senior management team retained the remaining 15% ownership stake.
Home infusion therapy has been a noncore business for DaVita, according to Anton Hie, an associate at RBC Capital Markets. Despite the excitement around home-care services, “It's never going to be anywhere near in-center care,” he said.