PLANO, Texas and JONESBORO, Ark., June
7 /PRNewswire/ -- U.S. Renal Care, Inc. (USRC), a leading
privately-held provider of outpatient dialysis services, today
announced that it has completed its $110.25
million acquisition of Dialysis Corporation of America, Inc.
(Nasdaq: DCAI) (DCA), a leading provider of outpatient kidney
dialysis services. With this acquisition, USRC will provide
dialysis services to approximately 5,500 patients and operate 84
dialysis centers, home and specialty hospital dialysis programs and
facilities in nine states: Arkansas, Georgia, Maryland, New
Jersey, Ohio, Pennsylvania, South
Carolina, Texas, and
Virginia.
"This transaction represents a major milestone for our
organization as we transition from being a regional provider to a
national leader," said Chris
Brengard, Chief Executive Officer of U.S. Renal Care. "DCA
is a top tier company in our industry and from the start of this
transaction we have been excited about the many benefits of
combining our companies. We look forward to working with the DCA
physicians, employees and team leaders to make the transition to a
unified company seamless."
"By broadening our geographic footprint, we are extending our
high-quality dialysis care to thousands more patients suffering
from chronic and acute renal disease," said Brengard. "As we
continue to provide best-in-class patient care, we will look for
additional opportunities to strategically grow our business and
improve our programs."
The acquisition of DCA is the latest in a series of achievements
for USRC. During the past five years, USRC has raised over
$75 million in equity capital,
including $25 million in new equity
in 2010 to complete its tender offer for DCA. Since 2005, USRC's
funding has come from the Company's management and several leading
investment firms including SV Life Sciences, Cressey & Company,
Salix Ventures, and Select Capital Ventures.
"I am very proud of the business we built at DCA," said
Thomas K. Langbein, former Chairman
of the Board of DCA. "I thank our shareholders who can be proud to
have been part of DCA's success. I thank our employees and our
physicians for contributing to our growth and success. Given the
compatibilities of the two companies, the integration of DCA with
USRC will be a smooth and efficient transition."
With shared values and a mission to provide best-in-class renal
care, USRC and DCA are well-matched. "As a company, we put the
needs of our patients first," said Stephen
Everett, former President and CEO of DCA. "This philosophy
has fueled our growth. I am grateful to the physicians and
employees of DCA who ensured the company never lost sight of our
patient-centric values. USRC is the perfect match for DCA's
culture, philosophy, and commitment to exemplary patient care.
There is no doubt that the future is bright for USRC, our combined
physicians and staff."
USRC was founded in Jonesboro,
Arkansas in 2000 by Chris
Brengard and is recognized as a leader in establishing joint
ventures with nephrologists for the operation outpatient treatment
centers for individuals suffering from chronic kidney failure. In
2006, the company moved its headquarters to Dallas, Texas, though its executive offices
and certain other key business functions still operate in
Arkansas.
About U.S. Renal Care, Inc.
Founded in 2000 by an experienced team of healthcare executives,
U.S. Renal Care, Inc. works in partnership with nephrologists to
develop, acquire, and operate outpatient treatment centers for
persons suffering from chronic kidney failure, also known as End
Stage Renal Disease. The company provides patients with their
choice of a full range of quality in-center, acute or at-home
hemodialysis and peritoneal dialysis services. U.S. Renal
Care operates dialysis programs in Arkansas, Texas, Georgia, Maryland, New
Jersey, Ohio, Pennsylvania, South
Carolina, and Virginia.
For more information on U.S. Renal Care, Inc. visit
www.usrenalcare.com.
SOURCE U.S. Renal Care, Inc.