PLANO, Texas, June 2 /PRNewswire/ -- U.S. Renal Care, Inc.
("USRC"), a privately-held leading provider of outpatient dialysis
services, today announced the successful completion of its
$11.25 per share cash tender offer,
through its wholly owned subsidiary Urchin Merger Sub, Inc.
("Merger Sub"), for all outstanding shares of common stock of
Dialysis Corporation of America (Nasdaq: DCAI) ("DCA"). The
tender offer expired at 5:00 p.m.,
New York City time, on
June 1, 2010.
Based on preliminary information from the depositary for the
tender offer, 8,783,968 shares, representing approximately 90
percent of the outstanding shares of common stock of DCA as of
5:00 p.m., New York City time, on June 1, 2010, were validly tendered and not
withdrawn prior to the expiration of the tender offer. All of
such shares have been accepted for payment in accordance with the
terms of the tender offer, including 214,430 shares that were
tendered pursuant to the tender offer's guaranteed delivery
procedure.
As previously announced on April 14,
2010, USRC, Merger Sub and DCA entered into a merger
agreement providing for the purchase by Merger Sub, pursuant to the
tender offer, of all of the outstanding shares of DCA common stock
for $11.25 per share, net to the
seller in cash, without interest thereon and less any required
withholding tax. Under the merger agreement, USRC will
acquire any remaining shares of DCA that were not tendered pursuant
to the tender offer (other than shares held by USRC or DCA) through
a second-step merger for the same $11.25 per share cash consideration paid in the
tender offer. USRC expects to cause the merger to be
completed on or about June 3, 2010.
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. 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 47 dialysis clinics in Texas and Arkansas. For more information on U.S. Renal
Care, Inc. please visit www.usrenalcare.com.
SOURCE U.S. Renal Care, Inc.
