PLANO, Texas, May 25 /PRNewswire/ -- U.S. Renal Care, Inc.
("USRC"), a privately-held leading provider of outpatient dialysis
services, today announced that it has entered into definitive
agreements with respect to the financing of its cash tender offer
to acquire all of the outstanding shares of common stock of
Dialysis Corporation of America (Nasdaq: DCAI) ("DCA") as
contemplated by the debt commitment letter with RBC Capital Markets
("RBC CM"), dated as of April 13,
2010. In connection with the entering into of such
definitive agreements, RBC CM has advised USRC that all of the
conditions set forth in the debt commitment letter have been
satisfied, other than those conditions which by their nature must
be satisfied substantially simultaneously with the funding of the
financing underlying the debt commitment letter.
USRC previously commenced a cash tender offer, through its
wholly owned subsidiary Urchin Merger Sub, Inc. ("Merger Sub"), for
all outstanding shares of common stock of DCA, as contemplated by
the Agreement and Plan of Merger entered into among USRC, Merger
Sub and DCA on April 13, 2010.
The tender offer is scheduled to expire at 5:00 p.m., New York
City time, on June 1, 2010.
Upon satisfaction of the remaining conditions to the tender
offer, USRC will use a portion of the proceeds from the credit
facilities underlying the definitive agreements to fund the
acquisition of the shares of common stock of DCA validly tendered
pursuant to the offer.
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.
Important additional information and where to find
it:
This announcement is for informational purposes only and does
not constitute an offer to purchase, or a solicitation of an offer
to sell, shares of Dialysis Corporation of America. Investors
and shareholders are urged to read both the tender offer statement
and the solicitation/recommendation statement regarding the tender
offer because they contain important information that holders of
Dialysis Corporation of America securities should consider before
making any decision regarding tendering their securities.
Urchin Merger Sub, Inc. and U.S. Renal Care, Inc. have filed
tender offer materials with the Securities and Exchange Commission,
and Dialysis Corporation of America has filed a
solicitation/recommendation statement with respect to the offer.
The tender offer materials (including an offer to purchase, a
related letter of transmittal and certain other offer documents)
and the solicitation/recommendation statement contain important
information that should be read carefully before any decision is
made with respect to the tender offer. The offer to purchase,
the related letter of transmittal and certain other offer
documents, as well as the solicitation/recommendation statement,
are available to all holders of shares of Dialysis Corporation of
America at no expense to them. The tender offer materials and
the solicitation/recommendation statement are available free of
charge at the Securities and Exchange Commission's web site at
www.sec.gov. Free copies of these documents may also be
obtained by mailing a request to the information agent for the
tender offer, Innisfree M&A Incorporated, 501 Madison Avenue,
20th Floor, New York, New York
10022 or by calling toll free at (888) 750-5834 (shareholders) or
collect at (212) 750-5833 (banks and brokers).
SOURCE U.S. Renal Care, Inc.