DaVita Launches Los Angeles Minority Bank Initiative with $1 Million Investment in
Broadway Federal Bank to Support Underserved Communities
LOS ANGELES, Calif. – DaVita Inc. (NYSE: DVA), a leading provider of kidney care services for those diagnosed with chronic kidney disease (CKD), was lauded today by local Los Angeles-area officials and members of the Inglewood community for a $1 million investment in Broadway Federal Bank as part of an initiative aimed at investing in minority communities.
DaVita’s investment in Los Angeles is part of the kidney care provider’s more than $5 million National Minority Bank Investment Initiative, an effort to create jobs and aid community development in underserved communities across the country including Los Angeles, Washington, D.C., New York City and Columbia, S.C.
"DaVita® is committed to developing business and community relationships that reflect our diverse base of patients and teammates", said Kent Thiry, DaVita CEO. "Through our National Minority Bank Investment Initiative, DaVita is supporting the revitalization of underserved neighborhoods it serves by helping minority-owned businesses to thrive."
In Los Angeles, DaVita is investing with Broadway Federal Bank, a minority-owned bank that serves the diverse urban markets of South Central and Mid-City Los Angeles and specializes in inner-city community reinvestment.
"We are pleased to be a part of DaVita's National Minority Bank Investment Initiative and today's Kidney Care and Senior Wellness Fair in the Inglewood Community," said Paul Hudson, Broadway Federal’s Chairman and CEO. "Our relationship with DaVita enables us to extend Broadway Federal’s strong legacy of community involvement and economic development by positively engaging in the overall health and well-being of our customers."
Announcement of DaVita’s investment was made in conjunction with today’s Kidney Care and Senior Wellness Community Fair at Broadway Federal Bank’s Inglewood branch, co-hosted also by the National Kidney Foundation (NKF) and The Kidney Trust. Inglewood residents were invited to receive kidney screenings and wellness counseling.
Each year, more than 100,000 Americans are diagnosed with End Stage Renal Disease (ESRD) – or kidney failure – and require dialysis or kidney transplantation to survive. Today, approximately 527,000 patients in the United States are living with kidney failure -- more than half of whom are minorities.
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About DaVita Inc.
DaVita Inc., a Fortune 500® company, is a leading provider of kidney care in the United States, delivering dialysis services and education to patients with chronic kidney failure and end stage renal disease. As of September 30, 2009, DaVita operated or provided administrative services at 1,513 outpatient dialysis facilities and acute units in approximately 700 hospitals located in 43 states and the District of Columbia, serving approximately 117,000 patients. DaVita develops, participates in and donates to numerous programs dedicated to transforming communities and creating positive, sustainable change for children, families and our environment. The company’s leadership development initiatives and corporate social responsibility efforts have been recognized by Fortune, Modern Healthcare, Newsweek and WorldBlu, among others. For more information, please visit www.davita.com.
About Broadway Federal
Broadway Federal Bank, f.s.b., is a community-oriented savings bank that primarily originates residential, church and commercial mortgage loans and conducts funds acquisition in the geographic areas of Mid-City and South Los Angeles. The Bank operates five full-service branches, four in the city of Los Angeles, and one in the nearby city of Inglewood, California.
Shareholders, analysts and others seeking information about the Company are invited to write to: Broadway Financial Corporation, Investor Relations, 4800 Wilshire Blvd., Los Angeles, CA 90010, or visit our website at www.broadwayfederalbank.com.
About the National Kidney Foundation
The National Kidney Foundation (NKF) is dedicated to preventing kidney and urinary tract diseases, improving the health and well-being of individuals and families affected by these diseases and increasing the availability of all organs for transplantation. For more information visit www.kidney.org
About The Kidney TRUST
The Kidney TRUST aims to benefit the 31 million American adults living with Chronic Kidney Disease (CKD), as well as the 506,000 Americans with kidney failure that require dialysis or a kidney transplant. The Kidney TRUST was formed to increase awareness of kidney disease through public education and testing programs so that progression of CKD to kidney failure can be delayed or prevented.
The Kidney TRUST was founded in 2006 by DaVita Inc., a leading provider of kidney care in the United States. The Kidney TRUST is an independent, nonprofit organization that believes everyone should be empowered to take a proactive role in their health. Toward that end, The Kidney TRUST is seeking to reduce the progression of chronic kidney disease (CKD) through free, rapid screening in non-medical settings and to provide financial assistance to people affected by CKD. For more information, visit www.kidneytrust.org.
Leigh Ann Bradley
Schmidt Public Affairs
917 Prince Street
Alexandria, VA 22314