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DaVita : deals, and rallies

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12/07/2017 | 07:54 pm

Dialysis service company DaVita made its biggest gain in four and a half years Wednesday after it agreed to sell hundreds of clinics and other health care facilities to UnitedHealth, the largest U.S. health insurer.

DaVita Medical Group runs almost 300 primary and specialty care clinics and has about three dozen urgent care centers and six outpatient surgery centers.

Health insurers have been getting more involved in managing or providing patient care in an effort to cut costs and keep people healthier. UnitedHealth's Optum business already runs more than 1,100 primary, urgent care and surgery centers.

The deal is the latest big move in the health industry. On Sunday, drugstore and pharmacy benefits company CVS Health agreed to buy health insurer Aetna for $69 billion.

DaVita gained 13.6 percent and UnitedHealth fell 0.1 percent.

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