Press Release

U.S. Renal Care Inc., Announces $30 Million Financing and Strategic Acquisition
10/19/05, J. Christopher Brengard

JONESBORO, ARKANSAS — U.S. Renal Care Inc (USRC)., a comprehensive outpatient dialysis provider, is pleased to announce the placement of $30 million in private equity and debt for acquisitions and development. The equity investment was lead by SV Life Sciences of Boston and includes Salix Ventures of San Francisco and Select Capital Ventures of Mechanicsburg, PA. Eugene D. Hill, III, of SVLS, Martin F. Jackson of Select and Martin R. Felsenthal, of Salix, will join the Board of Directors. First Tennessee Bank of Nashville handled the debt facility for this transaction.

"We view the renal dialysis industry as a very attractive segment of healthcare services and are extremely pleased to have the opportunity to participate in this new venture with Chris Brengard and his U.S. Renal Care team." said Gene Hill of SV Life Sciences. Marty Felsenthal, of Salix Ventures, which specializes in healthcare service investments adds, "We feel USRC has put together a solid management group with the ability to capitalize on a variety of acquisition and development opportunities."

In conjunction with the financing, U.S. Renal Care closed the acquisition of a majority interest in TruCare, a three-year-old start-up in the Rio Grande area of Texas that also operates dialysis centers.

U.S. Renal Care's management team is headed by Chris Brengard, whose credentials include serving as Select Medical Corporation's Vice President's of Outpatient Operations. In addition, Mr. Brengard was the founder and CEO of MediFit Rehabilitation Group in Houston Texas, a large regional provider of outpatient physical therapy. Prior to MediFit, Brengard held various positions with Continental Medical Systems.

In addition to Chris Brengard, Jack Egan serves as U.S. Renal Care's Sr. Vice President and Chief Operating Officer. Mr. Egan served in various senior positions with Continental Medical Systems, Horizon/CMS and Select Medical Corporation. Lowell F. ("Red") Martin has joined the management team as the Chief Financial Officer. Mr. Martin has served as CFO of Geriatrix, a specialty geriatric healthcare firm, and has held positions with MedSolutions, Ren Corporation (Gambro Healthcare) and Heritage Imaging Corporation. Both join Jack Harrington, a founding partner, who serves as Sr. Vice President. Prior to USRC, Harrington was COO of NEA Clinic, a large specialty medical clinic with 26 specialties and more than 70 physicians.

U.S. Renal Care commenced operations in 2000 with a single clinic in Paragould, Arkansas. Prior to the TruCare acquisition, U.S. Renal Care had completed two multi-site acquisitions in Arkansas. With the acquisition of eight outpatient dialysis clinics in the Rio Grande Valley of Texas, and several under development, U. S. Renal Care will be operating 14 clinics in Arkansas and Texas, providing dialysis services to over 850 patients.

The TruCare acquisition also enhances the company's corporate development program with the continuing participation of Daniel Perez, one of the most successful dialysis clinic developers in this strategic region of Texas, as well as the ongoing participation of the TruCare physician partners.

U.S. Renal Care develops, acquires, and operates outpatient treatment centers for patients suffering from chronic kidney failure, also known as End Stage Renal Disease ("ESRD"). U.S. Renal Care is a quality driven, renal disease management company that affiliates with selected nephrology physician practices and develops health care delivery systems in targeted markets across the southern United States.

For more information on U.S. Renal Care Inc., please visit www.usrenalcare.com

 

   


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