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NASHVILLE, Tenn.--(BUSINESS WIRE)--April 29, 2003--Renal Care Group,
Inc. (NYSE: RCI) announced today that its Board of Directors has elected
Gary A. Brukardt president and chief executive officer of the company
effective immediately. Mr. Brukardt replaces Sam Brooks, who was chief
executive officer and president of Renal Care Group until his death on
March 20, 2003. Mr. Brukardt has served as executive vice president and
chief operating officer of Renal Care Group since shortly after the company
was founded in 1996.
In addition, Renal Care Group announced that William P. Johnston, who
was named non-executive chairman following Mr. Brooks' death, would become
the company's full-time executive chairman of the Board. In that role,
Mr. Johnston will focus on strategic issues for Renal Care Group and will
assist the Board in efficiently and effectively providing oversight of
management in its continuing efforts to act in the long-term best interests
of the company and its shareholders.
Commenting on the election of Mr. Brukardt as president and chief executive
officer, Mr. Johnston said, "The Board's selection of Gary Brukardt
to be the next CEO of Renal Care Group makes absolute sense. As Renal
Care Group's chief operating officer, he knows the company's operations
inside and out and has earned the confidence and trust of our affiliated
physicians and associates. As our chief operating officer, Mr. Brukardt
has been responsible for delivering high-quality patient care and improving
earnings for our shareholders on a daily basis, all while instilling the
company's mission and values throughout our operations. The Board engaged
in a rigorous process in selecting Mr. Brukardt, and I feel we have made
an excellent choice. I look forward to working with Gary as we move into
Renal Care Group's next phase of growth."
Harry R. Jacobson, M.D., chairman of the Nominating and Governance Committee
of Renal Care Group's Board of Directors and Vice Chancellor for Health
Affairs of Vanderbilt University Medical Center, added, "No one knows
Renal Care Group and the dialysis services industry better than Gary Brukardt.
As chief operating officer for the last seven years, he has been at the
point in leading this company's fine performance. His election as president
and CEO not only provides consistency, but also keeps a great management
team together."
Mr. Brukardt has served as executive vice president and chief operating
officer of Renal Care Group since 1996. From 1991 through 1996, Mr. Brukardt
was executive vice president of Baptist Health Care Affiliates in Nashville,
Tennessee, where he was responsible for the development and operation
of physician practice management organizations and the management of four
rural hospitals and 22 outpatient facilities. In addition, from 1991 to
1996, Mr. Brukardt served as chairman and president of HealthNet Management,
Inc., a managed care company. Mr. Brukardt has more than 30 years of experience
in health care management, including working with multi- and single-site
hospital systems and VHA, a national health care services organization
that provides a variety of services to more than 1,200 hospitals. Mr.
Brukardt received his BA at the University of Wisconsin at Oshkosh and
his MBA in International Management from the American Graduate School
of International Management.
Mr. Brukardt said, "I am honored that the Board has confidence in
my ability and has chosen me to be Renal Care Group's second chief executive
officer and president. Mr. Brooks built a great management team at Renal
Care Group that is focused on our mission of delivering optimal care for
our patients and superior results for our shareholders. I am committed
to pursuing this mission and to carrying his vision and values forward.
I am eager to work with our more than 6,500 associates, our senior management
and affiliated physicians to achieve even greater clinical and financial
results for our patients and shareholders. I am also very eager to work
with Will Johnston more closely. I think he and I will complement each
other well as we focus on delivering increased value to Renal Care Group's
shareholders."
Renal Care Group, Inc. is a specialized dialysis services company that
provides care to patients with kidney disease. The company currently treats
over 20,600 patients at more than 260 owned outpatient dialysis facilities,
in addition to providing acute dialysis services at approximately 120
hospitals. Over 6,500 associates provide services across the company's
27-state network.
Certain statements in this press release, particularly those of Mr. Johnston
and Mr. Brukardt and those concerning the future operations and focus
of the company and the role of the executive chairman in the company,
constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are usually preceded by words like expect, plan, intend, will
and the like. 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: dependence on executive officers;
compliance with health care and other applicable laws; the integration
of acquired companies; changes in the Medicare and Medicaid programs;
risks related to the drug Epogen (EPO); 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, 2002. 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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