U.S. Renal Care and Ambulatory Services of America Announce Definitive Merger Agreement
Plano, TX and Nashville, TN – U.S. Renal Care, Inc. (USRC) and Ambulatory Services of America, Inc. (ASA) announced today that they have entered into a definitive merger agreement under which USRC will acquire ASA. Plano, Texas-based USRC and Innovative Dialysis Systems (Innovative Dialysis), ASA’s Long Beach, California-based dialysis business unit, are leading companies providing dialysis care to patients with kidney disease. ASA also provides radiation oncology services to cancer patients.
“USRC, ASA and Innovative Dialysis share a long-standing commitment to providing high-quality, patient-centered care at each of our facilities,” said Chris Brengard, Chief Executive Officer of USRC. “We have long admired ASA as a leader in the field and know this transaction will create even greater opportunities for physicians, patients and staff alike. We look forward to working with Innovative Dialysis’ physician partners to continue to provide excellent care to dialysis patients.”
The acquisition, expected to close in August, will nearly double the number of patients USRC serves. Once complete, USRC will provide dialysis care to approximately 13,000 patients and will operate more than 200 outpatient, home and specialty hospital dialysis programs and facilities in 19 states and the territory of Guam. Terms of the transaction were not disclosed.
Timothy P. Martin, President and Chief Executive Officer of ASA, said, “We are pleased to announce this important transaction for both ASA and USRC. U.S. Renal Care shares our joint venture focus, and we believe they will continue to work closely with Innovative Dialysis’ partner physicians to provide high-quality care to patients with end stage renal disease.”
Brengard said USRC constantly works to improve service to its patients and never loses sight of its mission to be the nation’s highest-quality provider of dialysis services. As the industry evolves in the face of imminent healthcare reform, USRC is looking to become more efficient through increased scale. This greater scale will make USRC a more effective competitor to other established providers of dialysis services. Brengard described ASA as “a natural fit” with USRC.
In addition to its 79 dialysis centers through Innovative Dialysis, ASA also operates 17 radiation oncology centers in five states through its subsidiary Radiation Oncology Services of America, Inc. (ROSA). USRC plans to sell these ROSA centers to a to-be-determined expert in the field and to continue USRC’s primary focus on providing high-quality dialysis care.
USRC has a seasoned management team with strong experience in dialysis and healthcare services. The acquisition is subject to antitrust notification and review under the Hart-Scott-Rodino Act by the Federal Trade Commission and the United States Department of Justice.
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 (ESRD). The company provides patients with their choice of a full range of quality in-center and at-home hemodialysis, as well as at-home peritoneal dialysis services. U.S. Renal Care serves more than 6,600 ESRD patients and operates 139 clinics and outpatients programs in 13 states, including 100 freestanding outpatient dialysis centers. For more information on U.S. Renal Care, Inc. please visit www.usrenalcare.com.
About Ambulatory Services of America, Inc.
Ambulatory Services of America, headquartered in Brentwood, Tennessee, is a diversified health care services company that provides alternative site services in partnership with physicians. ASA, through its Innovative Dialysis Systems and Radiation Oncology Services of America, Inc. business units provides dialysis services and radiation oncology services. ASA, through Innovative Dialysis, owns interests in and provides management services to 79 dialysis programs in 13 states and the territory of Guam. In addition, Innovative Dialysis provides management services only to six additional dialysis programs in California, and provides acute dialysis services under contracts with 13 inpatient providers. ASA also owns interests in and provides management services to 17 radiation oncology centers in five states through its subsidiary Radiation Oncology Services of America. Learn more at www.asaambulatory.com.