HealthCare Partners Acquired by DaVita in $4.42 Billion Deal

Munger, Tolles & Olson represented HealthCare Partners in a significant transaction for the healthcare industry. DaVita Inc., a leading provider of kidney care services, agreed on May 20, 2012 to acquire Healthcare Partners, the nation’s largest operator of medical groups and physician networks, for $4.42 billion.

Upon consummation of the transaction, DaVita will pay $3.66 billion in cash and 9.38 million shares of its stock, which was valued at $758 million as of May 18, 2012. In addition, the merger agreement provides that DaVita will pay additional consideration of up to $275 million in cash if certain performance targets are met by HealthCare Partners in 2012 and 2013.

The Munger Tolles corporate team representing HealthCare Partners consisted of Robert E. Denham, Mark H. KimRenée C. Delphin-Rodriguez and Jasmine M. Roberts, while the Munger Tolles tax team consisted of Stephen D. Rose, Williana H. Chang and Patrick Anderson.