DaVita HealthCare Partners Inc DVA
Q2 2012 Earnings Call Transcript

Transcript Call Date 08/01/2012

Operator: Good afternoon. My name is Candice and I will be your conference operator today. At this time, I would like to welcome everyone to the DaVita Q2 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Mr. Jim Gustafson, you may begin your call.

Jim Gustafson - IR: Thank you, Candice, and welcome everyone to our second quarter conference call. We appreciate your continued interest in our Company. I am Jim Gustafson, Vice President of Investor Relations, and with me today are Kent Thiry, our CEO; Jim Hilger, our interim CFO; and LeAnne Zumwalt, Group Vice President.

I'd like to start with our forward-looking disclosure statements. During this call, we may make forward-looking statements within the meaning of the federal securities laws. All of 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 SEC filings, including our most recent quarterly report on Form 10-Q and Annual Report on Form 10-K. 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 for any reason.

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 Form 8-K submitted to the SEC and available on our website.

I'll now turn the call over to Kent Thiry, our Chief Executive Officer.

Kent J. Thiry - Chairman and CEO, DaVita Inc.: Okay. Thank you, Jim and welcome to everyone and thank you for your interest in your Company and our Company. The second quarter was a rock solid one as probably you already know from looking at the release. We did perform well clinically, operationally and strategically, and I'll cover a few topics here before we turn it over to Jim. As usual coming clinical outcomes, I'll provide an update on legal proceedings as well and then talk a little bit about our outlook.

First, clinical outcomes, we always present those first because that is what come first. We are first and foremost a caregiver company serving now approximately 150,000 patients in the U.S. and some elsewhere as you know. Rather than provide a normal clinical metrics, I wanted to take a little bit of a different path today and give you a sense of the dynamism and are living our core value of continuous improvement and just give you a sense of some data that I shared with about 3,000 of our leaders across America just a few weeks ago. June was our best month ever in three categories fistulas placed, fistulas in-use and Day 90 catheters. Looking at the Q2 overall it was the best quarter – excuse me, the second-best quarter ever, the second quarter was the best ever, can't read my own handwriting, for Kt/V less than 1.2 and URR less than 65. So, in addition to – are still looking very good on the normal (metrics) report.

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