The Denver-based company did manage total revenues of nearly $3 billion for 2018.
An eventful Q4 for DaVita Inc. ended with the company posting a net income loss of $150 million, according to its year-end earnings report released Wednesday afternoon.
The Denver-based company's operating metrics were positive, including $388 million in income and $307 million in cash flows, which contributed to an overall $2.8 billion consolidated revenue for 2018.
Focus for the quarter was placed on the latest developments of DaVita's dialysis business and the pending sale of DaVita Medical Group to OptumHealth, a subsidiary of UnitedHealth Group.
In mid-December, United reduced its purchase price from $4.9 billion to $4.4 billion, citing "underlying business performance" as well as a desire to further advance the deal through its regulatory phases as reasons for the move.
The valuation adjustment resulted in DaVita adding a $219 million charge to its DaVita Medical Group business, which was accounted for as a larger $252 million charge.
Dialysis continued to be a solid producer for DaVita in Q4, with per-day treatments increasing by 3.1%, even as it explores potential growth opportunities outside of its core operations.
DaVita's earnings report produced a negative reaction initially, as the company's stock price dropped in after hours trading.
ADDITIONAL Davita Q4 EARNINGS REPORT HIGHLIGHTS:
- In Q4, DaVita compiled $30 million in advocacy costs used to counter union efforts and ballot initiatives.
- United's purchase of DaVita Medical Group is expected to close some time in Q1.
- DaVita also acquired a controlling interest in a previously disclosed nonconsolidated dialysis partnership, producing a $28 million non-cash gain.
For complete financial information, review DaVita's filing with the Securities and Exchange Commission.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
Photo credit: KIEV, UKRAINE - Dec 18,, 2018: DaVita Healthcare company logo seen displayed on smart phone - Image / Editorial credit: IgorGolovniov / Shutterstock.com