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DaVita sells primary care business to private equity firm

Private equity firm New Enterprise Associates acquired DaVita Inc.'s chain of primary care clinics, Paladina Health, LLC.

According to a CNBC report, the deal was valued at $100 million.

Paladina Health operates more than 50 physician offices across several states in the U.S.

"We are bullish on Paladina's future and thrilled that New Enterprise Associates will be their new home," said Kent Thiry, DaVita Chairman and CEO in a news release.

The acquisition is expected to strengthen Denver-based Paladina Health's position as a leader in the direct primary care market. Paladina Health provides healthcare services to patients through membership-based primary care clinics.

New Enterprise Associates, is a global venture capital firm with more than $20 billion in committed capital,