Medtronic (NYSE:MDT) and DaVita (NYSE:DVA) today announced the intent to form a new medical device company for kidney care.
The new, independent company — dubbed “NewCo” — aims to enhance the patient treatment experience and improve overall outcomes for kidney care patients.
According to a news release, the new company will bring together Medtronic’s capabilities as a healthcare technology leader and DaVita’s expertise as a comprehensive kidney care provider. NewCo will focus on developing a wide range of novel kidney care products and solutions, including future home-based products to make different dialysis treatments more accessible.
“This is an exciting moment that will shape the future of kidney care,” Ven Manda, president of Medtronic’s renal care solutions business and NewCo’s CEO upon close, said in the release. “Our singular focus on end-to-end kidney health solutions will position this new c…