Dresner Partners Advises Dialysis Corporation of America, Inc. on Its Sale to U.S. Renal Care, Inc.
June 09 2010 - 3:38PM
Marketwired
Dresner Partners, a leading FINRA-registered, middle-market
investment bank and IMAP member, advised Dialysis Corporation of
America, Inc. (DCA) (NASDAQ: DCAI) on its recently completed sale
to U.S. Renal Care, Inc. (USRC). Headquartered in Linthicum,
Maryland, DCA is a leading regional provider of outpatient dialysis
services in the Eastern and Midwestern U.S., operating 37 dialysis
centers and 11 acute programs across seven states. With the
acquisition, Plano, Texas-based USRC will operate 84 dialysis
facilities as well as home and acute programs across nine states,
providing care to roughly 5,500 End Stage Renal Disease (ESRD)
patients in Arkansas, Georgia, Maryland, New Jersey, Ohio,
Pennsylvania, South Carolina, Texas, and Virginia. The $110.25
million transaction, announced on April 14th, was completed on June
3rd.
"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."
Stephen Everett, former president and CEO of DCA, added, "As a
company, we put the needs of our patients first. 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."
Dresner Partners served as the exclusive financial advisor to
DCA and provided a fairness opinion to DCA's board in connection
with the transaction. Timothy C. Coleman, senior managing director
and head of Dresner Partners' Investment Banking Practice,
highlighted the "win-win" nature of the transaction with USRC.
"This transaction provides DCA with a strong partner to help the
company continue to fulfill its mission to its patients while also
maintaining its impressive record of growth. The combined
organization will have a broad and diverse geographic footprint,
will realize significant operational synergies as well as improved
benefits of scale, and will be better positioned to operate within
Medicare's new bundled reimbursement regime."
About Dialysis Corporation of America,
Inc. Dialysis Corporation of America, Inc., a leading regional
provider of dialysis services to patients suffering from End Stage
Renal Disease (ESRD), owns and operates freestanding kidney
hemodialysis centers located in Georgia, Maryland, New Jersey,
Ohio, Pennsylvania, South Carolina, and Virginia, and provides
in-hospital dialysis services on a contract basis to certain
hospitals located in those states. The company operates 37 centers
and provides in-center, acute, and home dialysis to over 2,000 ESRD
patients. Information on DCA can be found at
www.dialysiscorporation.com.
About U.S. Renal Care, Inc. Founded in
2000 in Arkansas by an experienced team of healthcare executives,
U.S. Renal Care, Inc. is recognized as a leader in establishing
joint ventures with nephrologists for the operation of outpatient
treatment centers for individuals suffering from chronic kidney
failure. 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. USRC's outside
investors include SV Life Sciences, Cressey & Company, Salix
Ventures, and Select Capital Ventures. For more information on U.S.
Renal Care, Inc. please visit www.usrenalcare.com
About Dresner Partners Dresner Partners is
a FINRA-registered, middle-market investment bank headquartered in
Chicago, Illinois. Founded in 1991, Dresner Partners provides
financial advisory services to business owners and managers
throughout the world, including institutional private placements of
debt and equity, merger and acquisitions, valuations and strategic
consulting services. Dresner Partners is also a member of IMAP, an
exclusive global organization of leading merger and acquisition
advisory firms. Its affiliate company, Dresner Corporate Services,
is a strategic communications firm specializing in public and
investor relations. More information is available at
www.dresnerpartners.com or
www.imap.com/locations/office.cfm?OfficeID=416.
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For Media Inquiries: Stephen Mullin (312) 780-7213
stevemullin@dresnerco.com For Transaction Related Inquiries:
Timothy C. Coleman Senior Managing Director and Head of Investment
Banking (312) 780-7209 tcoleman@dresnerco.com Matthew A. Phillips
Senior Vice President (312) 780-7244 mphillips@dresnerco.com
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