DaVita launches venture group to accelerate innovative tech: 4 details

DaVita created a new venture to invest in, develop and launch products for patients with kidney disease and related conditions.

Four things to know:

1. DaVita unveiled the DaVita Venture Group on May 5 with the goal of accelerating the company's efforts to develop and deploy new treatments for kidney disease.

2. DaVita Venture Group will identify companies and products that the company will target for strategic partnerships and venture investments. It will also provide a resource for incubating new ideas and innovations around digital health, pharmaceuticals, medical devices and care delivery models.

3. The company hopes DVG will help improve access to care and reduce the cost of treatment for kidney disease by advancing new solutions to market.

4. Steve Phillips, the vice president for strategy and innovation, is the business lead for DaVita Venture Group and is managing its portfolio. He has previous experience furthering DaVita's enterprise strategy.

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