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NASHVILLE, Tenn.--(BUSINESS WIRE)--Dec. 9, 1997--Renal Care Group, Inc. (Nasdaq/NM:RCGI - news) today announced that it has completed the acquisition of the assets of STAT Healthcare, a division of Laidlaw, Inc., for a combination of cash and Renal Care Group, Inc. common stock. STAT Healthcare operates 11 dialysis facilities in eastern Texas serving approximately 850 patients and provides acute dialysis services to four area hospitals. In addition, STAT Healthcare provides wound care services to ten hospitals. Including this transaction, Renal Care Group will operate a total of 24 facilities in eastern Texas providing services to approximately 1,800 patients suffering from end stage renal disease.
Mr. Sam A. Brooks, Jr., president and chief executive officer of Renal Care Group, Inc., said, "We continue to be successful in executing our disciplined growth strategy while at the same time focusing on improving both operational performance and patient outcomes."
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. Following this transaction, the Company will provide dialysis and ancillary services to approximately 7,900 patients through 118 owned outpatient dialysis centers in 15 states, in addition to providing acute dialysis services in 64 hospitals.
This press release contains forward-looking statements that involve various risks and uncertainties. Actual results could differ materially from those contained in these forward-looking statements due to certain factors, including business and economic conditions and availability of financing. These and other risks and uncertainties are detailed in the Company's reports filed with the SEC. |
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