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Nashville, Tennessee (July 1, 1996) - Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced that it has completed a merger with Nephrology Center, Inc., which currently services 250 patients at locations in Pensacola and Crestview, Florida. Nephrology Center has four additional satellite units under construction which are scheduled to open by September 1996. For the most current fiscal year ended December 31, 1995, Nephrology Center had revenues of approximately $5.9 million. Terms of the agreement were not disclosed.
Commenting on the announcement, John Bower, M.D., vice chairman of Renal Care Group, said, "We are pleased to be associated with Dr. Keith Shearlock, president of Nephrology Center, Inc. He is committed to the delivery of the highest quality care to patients with kidney disease. We are also pleased to announce our entry into new Florida markets, which we believe presents Renal Care Group with significant opportunities for expansion. Dr. Shearlock added, "Through the association with Renal Care Group, our physicians are assured of receiving the resources and support necessary to continue their mission of delivering the best possible care to their patients."
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 provides dialysis and ancillary services to approximately 3,500 patients through 49 outpatient dialysis centers in 13 states, in addition to acute dialysis services to 26 hospitals. |