DaVita (NYSE:DVA) announced today that it commenced a private offering of senior notes due in 2032 worth $1 billion.

The kidney care services provider offers care options for patients at every stage along the kidney health journey. Its offerings include solutions for slowing the progression of kidney disease and supporting transplantation. DaVita provides solutions for the acute hospital care setting and at-home dialysis.

Denver-based DaVita offers extracorporeal therapies like continuous renal replacement therapy and apheresis. The company last year launched a joint dialysis venture with Medtronic called “Mozarc Medical.” Mozarc’s mission is to enhance the patient experience and improve outcomes for kidney care patients. Medtronic and DaVita co-0wn Mozarc with equal equity stakes.

DaVita plans to use the net proceeds from its offering to repay a portion of its outstanding Term Loan B-1 facility borrowings maturing in 2026 and a portion of its outstanding revolving credit facility borrowings, in each case, together with related accrued and unpaid interest thereon.

Additionally, the company intends to pay any costs, fees and expenses in connection with the offering and its borrowings. If any proceeds remain, the company earmarked them for general corporate purposes, including, without limitation, for repurchases of its capital stock, working capital and capital expenditures.