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NASHVILLE, Tenn.--(BUSINESS WIRE)--July 5, 2005--Renal Care Group, Inc. (NYSE:RCI) announced that it has acquired Bay Area Mobile Apheresis Program, based in San Francisco, California. Renal Care Group will operate the program as Apheresis Care Group. Prior to the acquisition, Bay Area Mobile Apheresis Program provided therapeutic apheresis services to hospitals, medical centers and qualified outpatient facilities at more than 20 locations in California. Renal Care Group did not disclose terms of the transaction.
Dobri D. Kiprov, M.D., medical director for Apheresis Care Group, commented, "Groundbreaking therapeutic apheresis technologies, which are currently in clinical trials, promise expansion into many medical specialties and in new areas such as non-fetal stem cell research. By partnering with Renal Care Group, Apheresis Care Group will be well positioned to become a leading provider of therapeutic apheresis services throughout the United States."
Raymond M. Hakim, M.D., Ph.D., senior executive vice president of clinical affairs and chief medical officer for Renal Care Group, added, "We are working to expand therapeutic apheresis as an additional service for our hospital acute programs in many markets. Recent guidelines from CMS may make this therapy available in outpatient settings in addition to being an inpatient therapy for critically ill patients."
Renal Care Group, Inc. is a specialized dialysis services company that provides care to patients with kidney disease. The Company serves over 31,000 patients at more than 445 outpatient dialysis facilities, in addition to providing acute dialysis services at more than 210 hospitals. Over 9,100 associates provide services across the Company's 34-state network. More information about Renal Care Group, Inc. may 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, which are usually preceded by words like expect, plan, intend, believe, 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; payment reductions by private insurers, hospitals or managed care organizations; compliance with health care and other applicable laws; changes in the Medicare and Medicaid programs; risks related to the drug Epogen; 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 Proveaux, 615-345-5577
www.renalcaregroup.com |
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