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NASHVILLE, Tenn.--(BUSINESS WIRE)--May 16, 2005--Renal Care Group, Inc.
(NYSE:RCI) today announced that it has signed definitive agreements
to acquire the dialysis facilities managed by Preferred Medical Group.
Through the acquisition of Preferred Medical Group, Renal Care Group will
add approximately 900 patients in 14 outpatient dialysis facilities located
in Georgia and Florida. Terms of the transaction, which is expected to
close on June 1, 2005, were not disclosed.
Gary Brukardt, president and chief executive officer of Renal Care Group,
said, "We are pleased to be able to add Preferred Medical Group's
facilities to our base. We were working on this acquisition before the
announcement that Renal Care Group is to be acquired by Fresenius Medical
Care. We welcome the patients, associates and affiliated physicians of
Preferred Medical Group and we look forward to working together to continuously
improve clinical outcomes on behalf of the patients entrusted to our care."
Don Holton, chairman of the Preferred Medical Group of Companies, commented,
"We are pleased that the acquisition by Renal Care Group has moved
ahead, notwithstanding the pending transaction with Fresenius Medical
Care. Renal Care Group shares our commitment to improving the quality
of life for patients with chronic kidney disease through the delivery
of optimal care."
Renal Care Group, Inc. is a specialized dialysis services company that
provides care to patients with kidney disease. The Company serves over
30,400 patients at more than 425 owned outpatient dialysis facilities,
in addition to providing acute dialysis services at more than 210 hospitals.
Over 8,900 associates provide services across the Company's 34-state network.
More information about Renal Care Group, Inc. can be found at www.renalcaregroup.com.
Additional Information
Renal Care Group will promptly file with the SEC a current report on
Form 8-K, which will include the merger agreement and related documents.
The proxy statement that Renal Care Group plans to file with the SEC and
mail to its shareholders will contain information about Renal Care Group,
Fresenius Medical Care, the proposed merger and related matters. Shareholders
are urged to read the proxy statement carefully when it is available,
as it will contain important information that shareholders should consider
before making a decision about the merger. In addition to receiving the
proxy statement and proxy card by mail, shareholders will also be able
to obtain the proxy statement, as well as other filings containing information
about Renal Care Group, without charge, from the SEC's website (http://www.sec.gov)
or, without charge, from Renal Care Group. This announcement is neither
a solicitation of proxy, an offer to purchase nor a solicitation of an
offer to sell shares of Renal Care Group.
Renal Care Group and its executive officers and directors may be deemed
to be participants in the solicitation of proxies from Renal Care Group's
shareholders with respect to the proposed merger. Fresenius Medical Care
AG may also be deemed a participant in such solicitation. Information
regarding Renal Care Group's executive officers and directors is available
in Renal Care Group's proxy statement, dated April 28, 2005, for its 2005
annual meeting of shareholders. Information regarding any interests that
Renal Care Group's executive officers and directors may have in the transaction
with Fresenius Medical Care will be set forth in the proxy statement that
Renal Care Group intends to file with the SEC in connection with the proposed
merger.
Certain statements in this press release, particularly
those of Mr. Brukardt and statements about the combined operations of
Renal Care Group and Fresenius Medical Care, 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 believe, expect, plan, intend, will and the like, include
statements regarding the transaction with Fresenius Medical Care 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: the consummation of the transaction between
Renal Care Group and Fresenius Medical Care, the dependence of our profits
on the services we provide to a small portion of our patients with private
insurance; changes in the Medicare and Medicaid programs; changes in the
health care delivery, financing or reimbursement systems; risks related
to the drug Epogen (EPO); compliance with health care and other applicable
laws; and dependence on executive officers. 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.
Investor Relations:
Terry L. Proveaux, 615-497-1705
tproveaux@renalcaregroup.com |
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