Item 7.01.  Regulation FD Disclosure.
In connection with the 2021 Barclays Global Healthcare Conference in which
DaVita Inc. ("DaVita" or the "Company") plans to participate, the Company is
providing additional data, consistent with trends identified by the Company in
its earnings call on February 11, 2021, regarding the ongoing effects of the
novel coronavirus ("COVID-19") pandemic on the Company's U. S. dialysis patient
population as well as the Company's ongoing vaccination efforts. The Company is
also maintaining the 2021 guidance ranges provided in its fourth quarter 2020
earnings release on February 11, 2021.
DaVita continues to carefully monitor the impact of the COVID-19 pandemic on its
operating and financial performance. The magnitude and scope of the impact will
be dependent on numerous factors, including, among other things, the severity
and duration of the pandemic; further spread or resurgence of the virus,
including as a result of the emergence of new strains of the virus; its impact
on the chronic kidney disease patient population and our patient population; the
availability, acceptance, impact and efficacy of COVID-19 vaccines and other
treatments or therapies; the pandemic's continuing impact on the U.S. and global
economies and unemployment; the responses of our competitors to the pandemic and
related changes in the marketplace; and the timing, scope and effectiveness of
federal, state and local governmental responses. While the operating environment
for healthcare providers is continuously changing during this pandemic, the
health, safety and well-being of DaVita's patients, teammates and physician
partners remain a critical focus for the Company.
Although the ultimate impact of the COVID-19 pandemic, including the impact on
dialysis patients and DaVita's teammates and physician partners, remains
uncertain due in large part to the factors noted above, DaVita is providing the
following data on COVID-19 incidence, active cases and mortality among its U.S.
dialysis patients, consistent with trends identified by the Company in its
earnings call on February 11, 2021:
•The number of COVID-19 cases among DaVita's U.S. dialysis patient population
have correlated closely with national trends among the general population.
•As of February 27, 2021, the number of active COVID-19 cases has decreased 70%
from peak prevalence on January 6, 2021.
•The last-seven-day incidence rate for COVID-19 has decreased 84% from the week
ending January 9, 2021, to the week ending February 27, 2021.
•Based on preliminary information to date, we believe that incremental mortality
related to COVID-19 peaked year-to-date in mid-January 2021 and appears to have
declined through the end of February 2021. Note that this incremental mortality
related to COVID-19 is difficult to measure with precision due in part to timing
considerations and testing and reporting limitations, and as a result, the
Company's measure of year-to-date mortality attributable to COVID-19 represents
an approximate measurement.
•Mortality trends have generally trailed incidence rates by two to four weeks.
DaVita is also providing additional data, consistent with previously identified
trends, on vaccinations in its U.S. teammate and patient population.
•As of March 8, 2021, approximately 50% of DaVita's U.S. clinic-based teammates
have received at least one dose of COVID-19 vaccine.
•All frontline teammates are generally eligible to receive the vaccine pursuant
to applicable state and local/county policies, but availability of the vaccine
varies by locality.
•In many localities, DaVita teammates need to receive vaccinations at third
party sites. While the Company reimburses for time and mileage for teammates to
get vaccinated, the Company has observed that vaccination rates are noticeably
higher in geographies in which DaVita is receiving direct distribution of
vaccines to administer to teammates.
•As of March 8, 2021, approximately 28% of DaVita's U.S. dialysis patients have
received at least one dose of COVID-19 vaccine.
•As vaccine distribution and eligibility policies vary by state and by county,
DaVita has experienced high variability in accessibility and patient eligibility
across its U.S. patient population.
•The Company has observed that patient vaccination rates are noticeably higher
in geographies in which DaVita is receiving direct distribution of vaccines from
state authorities to administer to patients. Dialysis patients face high
barriers to receiving vaccines outside of dialysis clinics, including
transportation difficulties and the need to navigate technology to book an
appointment.

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•The Company, together with the kidney care community, have been advocating for
a direct allocation of vaccine supply from the federal government and remain in
ongoing discussions to secure such a national supply to administer to teammates
and patients.
The information contained in this Item 7.01 is being furnished and shall not be
deemed to be "filed" for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section and shall not be incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such filing.
Forward-Looking Statements
The guidance and other forward-looking information in this report (collectively,
"forward-looking statements") and the underlying assumptions involve significant
risks and uncertainties, including those described below, and actual results may
vary significantly from these forward-looking statements. Among other things, we
cannot assure you that our actual financial and operating results will not
differ, perhaps materially, from the guidance set forth above.
This report contains forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 ("PSLRA"). All statements in
this report, other than statements of historical fact, are forward-looking
statements and as such are intended to be covered by the safe harbor for
forward-looking statements provided by the PSLRA. Without limiting the
foregoing, statements including the words "expect," "intend," "will," "could,"
"plan," "anticipate," "believe," "guidance," "outlook," and similar expressions
are intended to identify forward-looking statements. These forward looking
statements include, but are not limited to, our anticipated 2021 financial
results and the underlying assumptions and our response to and the expected
future impacts of the COVID-19 pandemic. Our actual results and other events
could differ materially from any forward-looking statements due to numerous
factors that involve substantial known and unknown risks and uncertainties.
These risks and uncertainties include, among other things:
•the continuing impact of the dynamic and evolving COVID-19 pandemic, including,
without limitation, on our patients, teammates, physician partners, suppliers,
business, operations, reputation, financial condition and results of operations;
the government's response to the COVID-19 pandemic; the availability,
acceptance, impact and efficacy of COVID-19 treatments, therapies and vaccines;
further spread or resurgence of the virus, including as a result of the
emergence of new strains of the virus; the continuing impact of the pandemic on
our revenue and non-acquired growth due to lower treatment volumes; the
consequences of an extended economic downturn resulting from the impacts of
COVID-19, such as a potential negative impact on our commercial mix, which may
persist even after the pandemic subsides; and continuing COVID-19-related costs,
such as costs to procure equipment and clinical supplies and higher salary and
wage expense. The aforementioned risks and uncertainties may also have the
effect of heightening many of the other risks and uncertainties discussed below;
•the concentration of profits generated by higher-paying commercial payor plans
for which there is continued downward pressure on average realized payment
rates, and a reduction in the number or percentage of our patients under such
plans, including without limitation as a result of restrictions or prohibitions
on the use and/or availability of charitable premium assistance, which may
result in the loss of revenues or patients, or our making incorrect assumptions
about how our patients will respond to any change in financial assistance from
charitable organizations;
•noncompliance by us or our business associates with any privacy or security
laws or any security breach by us or a third party involving the
misappropriation, loss or other unauthorized use or disclosure of confidential
information;
•the extent to which the ongoing implementation of healthcare reform, or changes
in or new legislation, regulations or guidance, enforcement thereof or related
litigation result in a reduction in coverage or reimbursement rates for our
services, a reduction in the number of patients enrolled in higher-paying
commercial plans or that are enrolled in or select Medicare Advantage plans, or
other material impacts to our business; or our making incorrect assumptions
about how our patients will respond to any such developments;
•a reduction in government payment rates under the Medicare End Stage Renal
Disease program or other government-based programs and the impact of the
Medicare Advantage benchmark structure;
•risks arising from potential changes in laws, regulations or requirements
applicable to us, such as potential and proposed federal and/or state
legislation, regulation, ballot, executive action or other initiatives,
including those related to healthcare and/or labor matters, such as AB290 in
California;
•the impact of the political environment and related developments on the current
healthcare marketplace and on our business, including with respect to the future
of the Patient Protection and Affordable Care Act and the Health Care
Reconciliation Act of 2010, as amended, the exchanges and many other core
aspects of the current healthcare marketplace, as well as the composition of the
U.S. Supreme Court and the new presidential administration and congressional
majority;

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•our ability to successfully implement our strategies with respect to home-based
dialysis, value-based care and/or integrated kidney care, including maintaining
our existing business and further developing our capabilities in a complex and
highly regulated environment;
•changes in pharmaceutical practice patterns, reimbursement and payment policies
and processes, or pharmaceutical pricing, including with respect to hypoxia
inducible factors;
•legal and compliance risks, such as our continued compliance with complex
government regulations;
•continued increased competition from dialysis providers and others, and other
potential marketplace changes;
•our ability to maintain contracts with physician medical directors, changing
affiliation models for physicians, and the emergence of new models of care
introduced by the government or private sector that may erode our patient base
and reimbursement rates, such as accountable care organizations, independent
practice associations and integrated delivery systems;
•our ability to complete acquisitions, mergers or dispositions that we might
announce or be considering, on terms favorable to us or at all, or to integrate
and successfully operate any business we may acquire or have acquired, or to
successfully expand our operations and services in markets outside the United
States, or to businesses outside of dialysis;
•the variability of our cash flows, including without limitation any extended
billing or collections cycles; the risk that we may not be able to generate or
access sufficient cash in the future to service our indebtedness or to fund our
other liquidity needs; and the risk that we may not be able to refinance our
indebtedness as it becomes due, on terms favorable to us or at all;
•factors that may impact our ability to repurchase stock under our stock
repurchase program and the timing of any such stock repurchases, as well as our
use of a considerable amount of available funds to repurchase stock;
•risks arising from the use of accounting estimates, judgments and
interpretations in our financial statements;
•impairment of our goodwill, investments or other assets; and
•uncertainties associated with the other risk factors set forth in Part I, Item
1A. of our Annual Report on Form 10-K for the year ended December 31, 2020 and
the other risks and uncertainties discussed in any subsequent reports that we
file or furnish with the Securities and Exchange Commission from time to time.
The forward-looking statements should be considered in light of these risks and
uncertainties. All forward-looking statements in this report are based solely on
information available to us on the date of this report. We undertake no
obligation to publicly update or revise any forward-looking statements, whether
as a result of changed circumstances, new information, future events or
otherwise.

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