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Nashville, Tennessee (November 15, 1996) - Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced the results of its first month of operations following the completion of its merger with RenalWest, L.C., a Mesa, Arizona-based provider of dialysis services. The merger was completed on September 30, 1996, and was accounted for as a pooling of interests. The Company is releasing the results of operations to comply with the terms of its merger with RenalWest, L.C.
The consolidated results of operations for Renal Care Group for the month of October 1996 consist of net revenues of $11,990,000 and net income of $1,150,000, or $0.08 per share. Weighted average common and common equivalent shares outstanding for the month were 13,650,000 shares.
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 5,000 patients through 86 owned and managed outpatient dialysis centers in 15 states, in addition to acute dialysis services to 44 hospitals. |
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