Renal Advantage Inc. Increases Presence in Florida, 03/03/2008
Press Release
Source: Renal Advantage Inc.
Renal Advantage Inc. Increases Presence in Florida Monday March 3, 12:23 pm ET
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Renal Advantage Inc. (RAI), the third largest for-profit provider of dialysis services in the United States, today announced that it has increased its presence in Florida through the addition of a freestanding dialysis center located in Merritt Island, Florida. This transaction, for which terms were not announced, was completed on March 1, 2008. The Company now provides dialysis services to over 8,100 patients in 87 dialysis centers.
Renal Advantage, Inc. entered into a joint venture with Brevard Kidney and Hypertension Center, Inc. Under the terms of the agreement, Renal Advantage acquired a majority interest in a facility located at 245 S. Courtenay Parkway, Merritt Island, Florida, now known as RAI – S. Courtenay – Merritt Island. This transaction adds 29 patient treatment stations and more than 130 patients.
In commenting on the announcement, Michael D. Klein, chief executive officer of Renal Advantage, said, “The addition of this facility brings the number of facilities operated by Renal Advantage throughout Florida to eleven and specifically strengthens our presence on Florida’s east coast, which has been an area of focus for us because of favorable market conditions. In addition to being a good geographical fit with Renal Advantage’s current network, the facility is also very attractive and appealing with an excellent reputation for compassionate, high quality patient care. We look forward to working with the professional healthcare staff of the facility to ensure a smooth transition for the center’s patients and their families.”
About Renal Advantage Inc.:
Based in Brentwood, Tennessee, Renal Advantage Inc. provides dialysis services to patients with chronic kidney failure, also known as end-stage renal disease (ESRD). Renal Advantage provides services to over 8,100 patients in 87 dialysis centers in ten states and delivers laboratory services through RenaLab, a state-of-the-art independent clinical laboratory located in Jackson, MS. 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. For more information, visit the Company’s website at www.renaladvantage.com.
Contact:
Renal Advantage Inc. Michael D. Klein Chief Executive Officer or John K. Crawford Chief Financial Officer or Linda M. Meador Vice President, Human Resources 615-661-1100
