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NASHVILLE, Tenn.--(BW HealthWire)--Jan. 9, 2001--Renal Care Group, Inc. (Nasdaq/NM:RCGI - news) today announced that it has formed a joint venture with Dialysis Support Services of Las Cruces, New Mexico. The joint venture, Renal Care Group of South New Mexico, LLC, will operate three dialysis facilities and provide dialysis services to approximately 175 patients. Renal Care Group, Inc. will own 80% of the joint venture and will manage its operations. Other terms of the transaction were not disclosed.
Mr. Sam Brooks, president and chief executive officer of Renal Care Group, Inc., said, ``Renal Care Group's partnership in Las Cruces creates an opportunity for our company to enter the New Mexico market and broaden the base of patients to whom we offer our services. We are excited about this opportunity to expand our philosophy of providing optimal care with our new partner, Dr. Rene De la Vega.''
The Company also announced that it has closed its previously announced acquisition of the dialysis program of Providence St. Peter Hospital in Olympia, Washington. This program serves approximately 225 patients.
Renal Care Group, Inc. is a dialysis services company that provides care to patients with kidney disease. The Company currently treats approximately 16,000 patients through 200 owned outpatient dialysis facilities, in addition to providing acute dialysis services to more than 100 hospitals. Over 5,000 associates provide services across the Company's 24-state network.
Certain statements in this press release constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations and are based on currently available information. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Renal Care Group to differ materially from those expressed or implied by the forward-looking statements, including risks related to: integration of acquired businesses; compliance with health care and other applicable laws; changes in the Medicare and Medicaid programs; payment reductions by private insurers, hospitals or managed care organizations; and changes in the health care delivery, financing or reimbursement systems. These and other factors affecting the company are discussed in more detail in Renal Care Group's reports filed with the Securities and Exchange Commission, including without limitation, Renal Care Group's annual report on Form 10-K for the year ended December 31, 1999. Copies of these filings are available from Renal Care Group upon request.
Contact:
Renal Care Group Inc., Nashville
R. Dirk Allison, 615/345-5588 |
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