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NASHVILLE, Tenn.--(BUSINESS WIRE)--May 24, 2004--Renal Care Group, Inc. (NYSE: RCI - News) today announced that it has acquired dialysis programs in Des Moines, Iowa, which provide care to more than 150 patients. In connection with the acquisition, Renal Care Group entered into a joint venture with Mercy Medical Center of Des Moines, Iowa, to operate the acquired outpatient and home dialysis programs. The Company did not disclose terms of the transaction.
Gary Brukardt, president and chief executive officer of Renal Care Group, commented, "We are pleased to expand Renal Care Group's presence in the Midwest by partnering with Mercy Medical Center. Their commitment to continuous quality improvement mirrors our approach to providing optimal care for patients and our mission to improve the quality of life for those who suffer from end stage renal disease."
Dave Vellinga, chief executive officer of Mercy Medical Center, added, "We chose to affiliate with Renal Care Group based on its solid reputation for providing quality care to patients as demonstrated in its ability to produce excellent clinical outcomes and high levels of patient satisfaction. Affiliating with Renal Care Group will provide a platform for expanding dialysis services in and around Des Moines."
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 28,000 patients at more than 390 owned outpatient dialysis facilities, in addition to providing acute dialysis services at more than 190 hospitals. Over 8,000 associates provide services across the Company's 31-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 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
Terry L. Proveaux, 615-345-5577
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