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Nashville, Tennessee (December 2, 2002) — Renal Care Group, Inc. (NYSE:RCI) today announced that it has acquired the assets of six dialysis facilities. Three of the dialysis centers are in Greenville, South Carolina, two are in Harrisburg, Pennsylvania, and one is in Memphis, Tennessee. With these transactions Renal Care Group has added more than 400 patients. The Company did not disclose terms of the transactions.
South Carolina marks the 27th state in which the Renal Care Group has operations. The company acquired dialysis centers owned by Greenville Dialysis Center, Inc., Simpsonville Dialysis, Inc., and Palmetto Kidney Center, Inc. The three facilities provide dialysis services to approximately 300 patients in the Greenville, South Carolina area. The Greenville Kidney Center, P.A., a nephrology practice group, will provide medical director services for the South Carolina facilities. William C. Kendrick, M.D., founder of the practice, commented, "Our approach to meeting the needs of our patients is consistent with Renal Care Group's philosophy of providing optimal care through continual quality improvement, staff, patient and family education, and state-of-the art technology."
Renal Care Group has expanded its presence in Eastern Pennsylvania with the purchase of two dialysis facilities in Harrisburg, Pennsylvania. The facilities were owned by Dialysis Care 2000, Inc. and serve approximately 75 patients. Renal Care Group and the sellers have formed a joint venture to develop and operate a third facility, which is planned to open in the first quarter of 2003. Cummings Associates, P.C., a nephrology practice founded by Cary Cummings, II, M.D., will provide medical director services for the Harrisburg-area dialysis facilities.
Renal Care Group also announced that it had signed a definitive agreement to acquire the dialysis program of Methodist Hospital South, which is located in the Whitehaven area of Memphis, Tennessee. Mr. Joe Webb, administrator of Methodist Healthcare, the owner of Methodist Hospital South, noted, "Our affiliation with Renal Care Group in the Memphis area has proven to be beneficial to Methodist Hospitals and our patients by providing quality care and ease of access for our patients." The facility currently serves approximately 50 patients.
Renal Care Group, Inc. is a specialized dialysis services company that provides care to patients with kidney disease. The Company currently treats over 20,000 patients at more than 260 owned outpatient dialysis facilities, in addition to providing acute dialysis services to more than 120 hospitals. Over 6,000 associates provide services across the Company's 27-state network. More information about Renal Care Group can be found at www.renalcaregroup.com.
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 upon 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 in or implied by the forward-looking statements, including risks related to: changes in the Medicare and Medicaid programs; risks related to the drug Epogen? (EPO); payment reductions by private insurers, hospitals or managed care organizations; compliance with health care and other applicable laws; the integration of acquired companies; 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 Renal Care Group's annual report on Form 10-K for the year ended December 31, 2001, and Renal Care Group’s quarterly reports on Form 10-Q for the quarters ended March 31, 2002, June 30, 2002 and September 30, 2002. Copies of Renal Care Group's SEC filings are available from Renal Care Group upon request.
Contact:
R. Dirk Allison
Chief Financial Officer
615.345.5588
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