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NASHVILLE, Tenn.--(BUSINESS WIRE)--April 8, 1997--Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced that it has signed definitive agreements with owners of dialysis operations in Toms River, New Jersey, to jointly provide dialysis services to patients with end stage renal disease. Renal Care Group will acquire 514577500f the assets of the current operations and provide management services to an existing dialysis facility. Subsequent to the transactions, the joint venture will construct a state-of-the-art dialysis center to serve the existing 260 patients and accommodate future growth.
In addition, Renal Care Group announced that it has signed a definitive agreement with Southern Ocean County Hospital of Manahawkin, New Jersey, to jointly develop a new dialysis facility. Renal Care Group will retain 510wnership and provide management services to the joint venture which will serve approximately 40 patients. Acute, in-patient dialysis services will be provided to Community Medical Center and Southern Ocean County Hospital by Renal Care Group, Inc.
Mr. Gary Brukardt, executive vice president and chief operating officer of Renal Care Group, Inc., said, "Renal Care Group's partnerships in Toms River and Manahawkin create an opportunity for our company to enter a new market and broaden the base of patients to whom we offer our services. The synergies created by these relationships will empower our physician and hospital partners to continue their mission of delivering optimal patient care."
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 102 owned and managed outpatient dialysis centers in 17 states, in addition to providing acute dialysis services in 51 hospitals. |
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