U.S. kidney care provider, DaVita, will acquire a dialysis-center operator for about $690 million. The purchase of DSI Renal, which is based in Nashville, Tennessee, is expected to close during the second or third quarter of 2011.

At present, DSI runs 106 dialysis centers that serve about 8,000 patients and the company has yearly revenue of about $360 million. Credit Suisse was financial advisor and Fried, Frank, Harris, Shriver & Jacobson served as legal advisor to DaVita on the deal.

Click here for the release from Business Wire.