Contact
For Renal Advantage Inc.
(615) 661-1100
Michael D. Klein
Chief Executive Officer
or
Linda M. Meador
Vice President, Human Resources
or
John K. Crawford
Chief Financial Officer
News Releases
Renal Advantage Completes Acquisition of Seven Dialysis Centers in Virginia
Brentwood, Tenn. - July 5, 2006
Renal Advantage Inc., the fourth largest provider of dialysis services in the United States, today announced that it has completed its previously announced acquisition of the assets of seven dialysis centers owned by Riverside Hospital, Inc., a subsidiary of Riverside Health System. The seven facilities are located in Newport News, Williamsburg, Gloucester and Smithfield, Virginia. Terms of the transaction were not disclosed.
In commenting on the addition of the seven centers, Michael D. Klein, Chief Executive Officer of Renal Advantage, said, “We are pleased to have completed this transaction, which significantly expands our presence in Virginia. Simultaneous with the closing of the acquisition, we have also entered into a 10-year relationship with Riverside Health Systems to continue the provision of renal care services in markets served by Riverside Health System. We have been working closely with the physicians and clinical staff of these new Virginia dialysis centers and coordinating with Riverside Health System for a smooth transition of ownership that assures continued high quality care for the patients of these centers.”
About Renal Advantage
Based in Brentwood, Tennessee, Renal Advantage Inc. provides dialysis services to patients with chronic kidney failure, also known as end-stage renal disease (ESRD). Including the transaction announced today, Renal Advantage provides services to approximately 7,400 patients in 80 dialysis facilities in ten states. In addition, Renal Advantage currently manages RenaLab, an independent clinical laboratory located in Jackson, Mississippi, with administrative offices in Nashville, and expects to close on its previously announced acquisition of the laboratory by year-end. Founded by veteran healthcare executives, the Company’s growth plan began with its acquisition of 73 dialysis centers in October 2005, which was financed in partnership with Welsh, Carson, Anderson & Stowe.