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DaVita returns value by buying back 7% of stock via free cash flow
By Devika Patel
Knoxville, Tenn., Jan. 10 – DaVita Inc. has used its “distinctively healthy and steady” free cash flows to reduce its equity by 7% in the last 21 months.
“Our operating and free cash flows remain distinctively healthy and steady,” chairman and chief executive officer Kent Thiry said at the 35th Annual J.P. Morgan Healthcare Conference in San Francisco on Tuesday.
“In addition, in the last 21 months, we’ve taken out 7% of our shares, using that cash flow characteristic to your economic advantage.
“Overall, we have stable demand and cash flows. We are market leaders in virtually everything we do,” Thiry said.
DaVita is a Denver-based provider of kidney care services.
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