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Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced that it has purchased substantially all of the assets of seven federated dialysis facilities in Indianapolis, Richmond, Greensburg and Kokomo, Indiana. The facilities currently provide treatment to approximately 600 patients as well as acute, in-patient dialysis treatment services to four local hospitals. Terms of the transaction were not disclosed. The Company will also provide the full range of ESRD services to a sub-population of its patients belonging to a managed care organization under a full-risk, globally capitated rate structure. As part of the transaction, the Company will manage the practice of 17 physicians, 12 of which are nephrologists. Including this transaction, Renal Care Group will operate a total of 12 facilities in central and northeastern Indiana providing services to nearly 1,000 patients suffering from end stage renal disease.
Mr. Sam A. Brooks, Jr., president and chief executive officer of Renal Care Group, Inc., said, "We are pleased to be increasing the size of our Indiana provider network through the acquisition of these facilities and our affiliation with this dedicated group of physicians. This transaction is consistent with our corporate strategy of acquiring significant market share in selected geographical areas." 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 approximately 6,300 patients through 100 owned and managed outpatient dialysis centers in 16 states, in addition to providing acute dialysis services in 49 hospitals. |
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