Ambulatory Services acquires six California dialysis centers
Six years later, Renal Care litigation settlement in the works
The long-running shareholder legislation over the 2006 $3.5 billion acquisition of Renal Care Group appears to be nearing its end. Attorneys for both sides will convene Jan. 18 before Chancellor Claudia Bonnyman to approve a proposed $4 million settlement.
SEE ALSO: Court of Appeals reinstates Renal Care shareholder lawsuit
Another dialysis player emerges
The private-equity firm that helped orchestrate the 2004 creation of locally based auto insurer First Acceptance Corp. has teamed with the former CEO of Renal Management to launch another entrant into the dialysis services market. Corva LLC is headquartered outside Denver and already has bought a clinic in Houston. Flexpoint Ford says it will invest up to $75 million in the company led by Jerry Simonsen. Together, they will look to make their mark in a sector that has seen plenty of big deals in the last few years, a number of which involved local players Renal Advantage and DSI.
More info on DSI deal
Following Monday's news that DSI Renal had purchased 54 dialysis clinics, GE Capital announced today that it served as administrative agent on the credit facility supporting the deal.
GE Capital, Healthcare Financial Services announced today that it is administrative agent on $193 million in senior secured credit facilities for DSI Renal, Inc. The financing supports DSI’s acquisition of 54 dialysis clinics from Fresenius Medical Care AG, and makes DSI the fourth largest for-profit provider of dialysis services in the country. GE Capital Markets served as joint lead arranger and joint book runner on the facilities.
DSI closes purchase of 54 dialysis clinics
Ambulatory Services subsidiary snaps up 17 more dialysis clinics
DaVita, DSI spin out 30 dialysis clinics to new venture
Ambulatory Services subsidiary expanding in California
Fresenius buys Renal Advantage parent
DaVita/DSI divestitures draw suitors
Executives at Colorado-based dialysis firm DaVita yesterday discussed the company's planned $690 million acquisition of Nashvile-based DSI. On a conference call with investors, CEO Ken Thiry said the DSI has some "particularly attractive geographies and physician group affiliations, as well as many, manye xcellent caregivers and other employers." Of course, the deal is subject to antitrust approval and Thiry expects DaVita will have to divest "a fair number of centers," in order to get a federal seal of approval, but he declined to elaborate on how many centers or which markets may be affected. He did say DaVita is already seeing strong demand for any divestitures. "We've already been contacted by a number of potential buyers," he said. Shares of DaVita (Ticker: DVA) are up about 3.5 percent today, following the company's earnings release Thursday evening.
