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NASHVILLE, Tenn.--(BUSINESS WIRE)--June 6, 1997--Renal Care Group, Inc. (Nasdaq/NM:RCGI) today announced that it has completed a merger with Bay Area Dialysis Services of Corpus Christi, Texas. The six outpatient dialysis facilities currently provide treatment to approximately 330 patients as well as acute, inpatient dialysis treatment services to two local hospitals. The transaction will be treated as a pooling-of-interests for accounting purposes. Terms of the transaction were not disclosed. Renal Care Group, Inc. now operates a total of 12 facilities in northeastern and southeastern Texas providing services to nearly 900 patients suffering from end- stage renal disease. As part of the transaction, the Company entered into a long-term agreement to manage the practice of five nephrologists.
Harry Jacobson, M.D., chairman of Renal Care Group, Inc., said, "We are exceptionally pleased to be increasing the size of our Texas provider network through this affiliation. This transaction is consistent with our vision of establishing and growing a nephrology services company by partnering with dedicated nephrologists to deliver optimal care to the patients we serve." 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 nearly 6,700 patients through 102 outpatient dialysis centers in 15 states, in addition to providing acute dialysis services in 52 hospitals. |
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