If you want to lift yourself up, lift up someone else. –Booker T. Washington
Aug 12, 2016, 11:09am MST Mike Sunnucks and Eric Jay Toll Phoenix Business Journal.
A Denver-based health care company is opening a new 550-worker pharmacy in Chandler.
Davita Rx — an arm of Colorado-based DaVita HealthCare Partners Inc. (NYSE: DVA) — is opening the 76,000-square-foot pharmacy near McClintock Road and Chandler Boulevard.
The DaVita center has 10,000 square feet of dispensing space dedicated to specialty medicines.
The health care company also operates just under 2,300 kidney dialysis care centers across the U.S. The parent company moved its headquarters from California to Denver in 2015.
The company and Arizona officials — including Chandler Mayor Jay Tibshraeny and Arizona Commerce Authority Sandra Watson — will be at an official opening of the new pharmacy on Monday.
CVS Health already has a back-office pharmacy center in Chandler. DaVita picked the East Valley over locations in Nashville, Columbus, Los Angeles and Las Vegas.
Gov. Doug Ducey hailed the site selection announcement as bolstering the state’s health care sector.
The Denver Business Journal reported earlier this month on DaVita’s latest earnings.
The company (NYSE: DVA) reported net revenue of $3.72 billion for the second quarter of 2016, up from $3.43 billion during the same quarter last year.
However, its net income fell from $170.5 million last year to $53.4 million this year because of $176 million in goodwill impairment charges related to a loss on the sale of an Arizona managed-care business, a partial sale on another business and accrual of damages and liabilities on a Nevada hospice business.
Excluding those items, adjusted net income for the company was $1.01 per share. Including one-time costs, diluted net income per share was 26 cents.
Kidney-care operating income of $431 million for the quarter was high enough that Javier Rodriguez, CEO of the kidney-care division, said the company will raise its minimum 2016 revenue guidance for that portion of the business by $250 million to $1.65 billion.
Company CEO Kent Thiry, meanwhile, said officials continue to work on the HealthCare Partners side of the business, which they have re-branded as DaVita Medical Group.
Lower-than-expected fee-for-services revenue growth and lower-than-expected growth in Medicare Advantage revenues both have contributed to the sluggish growth, he said.
Denver Business Journal reporter Ed Sealover contributed to this story.
Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.
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