DaVita HealthCare Partners Inc. (NYSE:DVA) Q2 2019 Earnings Conference Call - Final Transcript

Aug 01, 2019 • 05:00 pm ET


DaVita HealthCare Partners Inc. (NYSE:DVA) Q2 2019 Earnings Conference Call - Final Transcript


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Good evening. My name is Darren and I will be your conference facilitator today. At this time, I would like to welcome everyone to the DaVita's Second Quarter 2019 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. [Operator Instructions] Thank you.

Mr. Gustafson, you may begin the conference.

Jim Gustafson

Thank you, Darren, and welcome everyone to our second quarter conference call. We appreciate your continued interest in the company. I'm Jim Gustafson, Vice President, Investor Relations. And with me today are Javier Rodriguez, our CEO; Joel Ackerman, our CFO; LeAnne M. Zumwalt, Group Vice President; and Jim Hilger, our Chief Accounting Officer.

Please note that during this call, we may make forward-looking statements within the meaning of the federal securities laws. All these statements are subject to known and unknown risks and uncertainties that could cause the actual results to differ materially from those described in the forward-looking statements. For further details concerning these risks and uncertainties, please refer to our second quarter earnings press release, our most recent quarterly report on Form 10-Q and any subsequent filings with the SEC.

Our forward-looking statements are based on information currently available to us and we do not intend and undertake no duty to update these statements. Additionally, we'd like to remind you that during this call, we will discuss some non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most comparable GAAP financial measures is included in our earnings press release submitted to the SEC and available on our website.

I'll now turn the call over to our CEO, Javier Rodriguez.

Javier J. Rodriguez

Thank you, Jim, and good afternoon and thank you for joining the call today. It's nice to be with you. As I hope, my first earnings call as the CEO of the enterprise. As I reflect on my first 60 days, it's been a dynamic time. In that short period of time, the President of United States issued an executive order on kidney health. We closed the DMG transaction. We bought back $350 million of stock. We commenced the tender process to purchase up to another $1.2 billion of stock. We launched a new bank financing and, most importantly, our team of dedicated caregivers performed over 5 million life-sustaining dialysis treatment. Hard to believe that it's only been 60 days.

Before providing financial details on the quarter, let me start with the clinical highlights. DaVita has had a long commitment to helping as many patients as possible receive kidney transplants. We have created award-winning educational programs to support our patients to increase their chances of receiving a transplant. These programs include pure testimonial and animated videos on how to prepare for a transplant evaluation, how to stay active on the wait list, how to find a living donor and what to expect after transplant.

We're encouraged by the interest of our current administration to try to improve on the biggest challenge, which is actually