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NASHVILLE, Tenn.--(BUSINESS WIRE)--May 7, 2003--Renal Care Group, Inc.
(NYSE:RCI - News) today announced that it has acquired interests in joint
ventures that operate outpatient and home dialysis programs in Elyria,
Ohio, and that it has acquired the assets of four dialysis facilities
located in Cleveland, Ohio; Laurens County, South Carolina; Lexington,
Kentucky; and Harlingen, Texas. With the acquisition of these programs,
Renal Care Group adds more than 200 patients and additional capacity in
important markets. The Company did not disclose terms of the transactions.
Gary Brukardt, president and chief executive officer of Renal Care Group,
commented, "Each of these acquisitions solidifies Renal Care Group's
presence in key markets where we are already a leading provider of dialysis
services. We continue to execute our strategy of teaming with excellent
physicians to deliver superior clinical outcomes and providing optimal
care for our patients."
The dialysis programs in Elyria and Cleveland will be operated in affiliation
with Ohio Renal Care Group, LLC, a joint venture that includes The Cleveland
Clinic Foundation. Vincent Dennis, M.D., chief of the division of nephrology
and hypertension at The Cleveland Clinic, commented, "We're very
excited about this latest extension of our successful partnership with
Renal Care Group. They have the finest reputation for providing quality
care to patients with high levels of satisfaction for both patients and
their physicians."
Romeo Miclat, M.D., medical director of the new programs in Elyria, characterized
Renal Care Group as setting the standards for quality and innovation in
dialysis treatment in the Cleveland area. He added, "Affiliating
with Renal Care Group will provide a platform for expanding the programs
and enhancing the quality of nephrology services available to patients."
Renal Care Group, Inc. is a specialized dialysis services company that
provides care to patients with kidney disease. With the acquisition of
these programs, the Company treats over 20,800 patients at more than 270
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. More information about
Renal Care Group, Inc. may be found at www.renalcaregroup.com
Certain statements in this press release, particularly those of Mr. Brukardt,
constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements, which are usually preceded by words like expect, plan, intend,
will and the like, include statements that necessarily depend on future
events. 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: the integration of acquired companies;
compliance with health care and other applicable laws; changes in the
Medicare and Medicaid programs; risks related to the drug Epogen (EPO);
payment reductions by private insurers, hospitals or managed care organizations;
dependence on executive officers; 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 most recent annual report on Form 10-K and any quarterly
reports on Form 10-Q filed after that annual report. 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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