Medtronic and DaVita are forming a company that will focus on in-home kidney care.
The independent, kidney-based medical device company will be called NewCo and be equally owned by the Dublin, Ireland-based healthcare tech firm and the kidney care provider headquartered in Denver.
"This is an exciting moment that will shape the future of kidney care," Ven Manda, president of rental care solutions for Medtronic and NewCo's future CEO, said in a May 26 news release.
The companies said the new venture will improve the treatment experience and patient outcomes at a time when the number of people with kidney failure is expected to double, exceeding 6 million in the next decade. Treatments will include home-based dialysis and other products.
The deal is expected to close next year.