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NASHVILLE, Tenn., Sept 30, 2003 (BUSINESS WIRE) -- Renal Care Group,
Inc. (NYSE: RCI) announced today that it has acquired substantially all
the assets of two outpatient dialysis programs. Those programs currently
provide dialysis services for approximately 245 patients. Terms of the
transactions were not disclosed.
The Company acquired Irving Dialysis Center in Irving, Texas, from Mid-Cities
Nephrology Associates. The 40-station dialysis facility will remain in
its current location.
The Company also acquired the outpatient dialysis program of Great Plains
Regional Medical Center in North Platte, Nebraska. It is anticipated
that the outpatient dialysis program will be relocated from the current
facility in the hospital to a nearby medical building. In addition, Renal
Care Group will provide acute dialysis services to Great Plains Regional
Medical Center. Cindy Bradley, chief executive officer of Great Plains
Regional Medical Center, stated, "We look forward to a positive
working relationship with Renal Care Group. Our board of directors and
our management team agreed that Renal Care Group met our goals in seeking
an acute care provider whose philosophy matches that of Great Plains
Regional Medical Center."
Gary Brukardt, president and chief executive officer of Renal Care Group,
commented, "These affiliations further expand Renal Care Group's
presence in outpatient dialysis. The parties to these transactions are
the premier providers in their local markets. We look forward to a continuing
relationship with these two excellent healthcare providers."
Renal Care Group, Inc. is a specialized dialysis services company that
provides care to patients with kidney disease. The Company treats over
21,100 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 regarding
our financial outlook for 2003 and any other 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: 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; the integration
of acquired companies; executive succession and 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, 615-345-5588
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