Nossaman Represents HealthCare Partners in $4.42 Billion Merger with DaVita Inc.
Members of Nossaman's Healthcare and Corporate Practice Groups successfully represented HealthCare Partners, the country's largest operator of medical groups and physician networks, in their merger agreement with DaVita Inc., a leading provider of kidney care services for those diagnosed with chronic kidney disease. The $4.42 billion purchase price consists of $3.66 billion in cash and approximately 9.38 million shares of DaVita common stock, which was valued at $758 million based on the closing price on May 18, 2012.
Upon closing of the transaction, which is expected to happen early in the fourth quarter of this year, the combined company will be named DaVita HealthCare Partners lnc. DaVita Inc. said in a statement that "the current HealthCare Partners senior management team has committed to stay and continue to manage the existing business." Robert Margolis, MD, will join the board of directors and become Co-Chairman of the combined enterprise alongside Kent Thiry, Chairman and CEO of DaVita.
Nossaman's representation of HealthCare Partners in the transaction was led by Bob Mosher, with assistance from George Joseph, Henry Weinstock, and Sean Wainwright.