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Nashville, Tennessee (December 2, 1996) - Renal Care Group, Inc. (NasdaqlNM:RCGI) today announced that it has formed a joint venture with The Cleveland Foundation and MetroHealth Systems, Cleveland, Ohio, to operate four outpatient dialysis facilities which expects to serve approximately 450 patients in the Cleveland metropolitan area. Dr. Vincent W. Dennis, chairman of the Department of Nephrology at the Cleveland Clinic Foundation, characterized Renal Care Group as setting the standards for quality and innovation in dialysis treatment. "The Cleveland Clinic has historically been a leader in the development and application of dialysis treatment to patient care. Our association with Renal Care Group and Metrohealth will provide unique opportunities to continue that tradition of excellence," said Dr. Dennis. Dr. John R. Sedor, chairman of the Division of Nephrology of Metrohealth, added, "We anticipate that this joint venture relationship will serve as a platform for increasing the range and quality of nephrology services available to patients in the Cleveland metro area and in northern Ohio." Dr. Raymond M. Hakim, director of Renal Care Group's University Division, said, "We are proud of our affiliation with these two premier institutions with well-established and distinguished research and clinical outcomes in the care of ESRD patients." Renal Care Group also announced that it has purchased substantially all of the assets of the Watson Wise Dialysis Center of St. Joseph's Hospital and Health Center of Paris, Texas. The center, which currently serves approximately 100 patients, will become part of Renal Care Group's existing network of nephrology service providers in Northeast Texas. Acute in-patient dialysis services will be provided to St. Joseph's Hospital by the Company. Mr. Sam Brooks, president and chief executive officer of Renal Care Group, Inc., said, "Our expanding relationship with The MetroHealth System and The Cleveland Clinic Foundation reflects our desire to affiliate with exceptional academic nephrology programs across the country. Both of these transactions are consistent with the Company's strategic objective to develop significant market share in selected geographical regions."
Renal Care Group, Inc. is a nephrology services company that was founded
in June 1995 to focus on the provision of care to patients with kidney
disease, including patients suffering from chronic kidney failure. The
Company currently provides dialysis and ancillary services to over 5,000
patients through 90 owned and managed outpatient dialysis centers in 15
states, in addition to acute dialysis services to 45 hospitals.
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