The settlement will include a payment of $389 million, an amount DaVita already set aside in November. DaVita also agreed to enter into a corporate integrity agreement and install an independent compliance monitor.
The settlement also requires DaVita to unwind a limited number of joint ventures with physicians, either by buying out or selling its stake at fair market value. On an earnings call, executives emphasized that neither the size of the settlement nor the number of joint ventures affected would have a material impact on the company.
The terms of the deal will likely cover 11 joint ventures that include 28 clinics, said Garry Menzel, DaVita's chief financial officer, on the call, adding that more than 70% of the company's dialysis centers are already wholly owned.
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