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Nashville, Tennessee (February 26, 1996) - Renal Care Group, Inc. today announced that the underwriters have exercised their over-allotment option to purchase an additional 585,000 shares of Common Stock of Renal Care Group, Inc. at $18.00 per share, which option was granted in connection with the Company's initial public offering of 3.9 million shares, which commenced on February 6, 1996. The net proceeds to the Company from the exercise of the over-allotment option were approximately $9.8 million, increasing to $74 million the total net proceeds from Renal Caret 5 initial public offering. The Company intends to use the additional net proceeds from the offering for general corporate purposes plus acquisitions.
Equitable Securities Corporation and Morgan Keegan and Company, Inc. served as managing underwriters for the offering.
Renal Care Group, Inc. is a specialized provider of nephrology services 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 provides dialysis and ancillary services to approximately
2,700 patients through 41 outpatient dialysis centers in eight states.
Renal Care Group also provides acute dialysis services through contractual
relationships with 21 hospitals.
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