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NASHVILLE, Tenn.--(BW HealthWire)--April 2, 2002--Renal Care Group, Inc.
(NYSE:RCI - news) today announced that it has acquired the assets of three
outpatient dialysis programs. Those programs currently provide dialysis
services for approximately 355 patients. Terms of the transactions were
not disclosed.
The Mount Carmel Health System dialysis program will become part of Renal
Care Group's University Division, which is based in Cleveland, Ohio. Renal
Care Group will operate a dialysis center in Columbus, Ohio, through a
joint venture arrangement with Renal Replacement Therapy, Inc. and Mount
Carmel Health System.
Through Saint Louis Renal Care, LLC, its joint venture with Saint Louis
University, Renal Care Group acquired the assets of two hospital-based
dialysis centers. The hospitals, Des Peres Hospital and Forest Park Hospital,
are owned by Tenet Healthcare. Saint Louis Renal Care acquired these centers
effective April 1, 2002.
Finally, Renal Care Group has formed a joint venture with Bloomington
Hospital to acquire and operate the hospital's three dialysis centers
in and around Bloomington, Indiana. The transaction was finalized effective
April 1, 2002. The program provides services to approximately 120 patients.
Sam Brooks, chairman and chief executive officer of Renal Care Group,
said, ``In each market, we seek to affiliate with leading providers of
healthcare services, and these acquisitions allow Renal Care Group to
build relationships with these high quality providers. In addition, each
of these acquisitions further expands markets in states in which we are
currently located.''
Renal Care Group, Inc. is a dialysis services company that provides care
to patients with kidney disease. The Company currently treats approximately
18,800 patients through more than 240 owned outpatient dialysis facilities,
in addition to providing acute dialysis services to 120 hospitals. Over
5,000 associates provide services across the Company's 26-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, 2001. Copies of these filings are available from Renal
Care Group upon request.
Contact:
Renal Care Group, Inc., Nashville
R. Dirk Allison, 615/345-5500
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