Continental Choice Care, Inc. Sells Renal Management, Inc. Subsidiary To Renal Disease Management, In All Stock Transaction.FLORHAM PARK, N.J.--(BUSINESS WIRE)--Dec. 22, 1998--Continental Choice Care, Inc. ("Continental") (Nasdaq Small Cap Market: CCCI CCCI Campus Crusade for Christ International CCCI Cebu Chamber of Commerce and Industry (Philippines) CCCI Central Criminal Court of Iraq CCCI Crossroads Christian Communications Inc. ) today announced the sale of its Renal Management, Inc. subsidiary ("RMT RMT right mentotransverse (position of the fetus). RMT 1. Registered Massage Therapist 2. Renal mesenchymal tumor ") to Renal Disease Renal disease Kidney disease. Mentioned in: Glycogen Storage Diseases hypertension High blood pressure Cardiovascular disease An abnormal ↑ systemic arterial pressure, corresponding to a systolic BP of > 160 mm Hg Management ("RDM RDM Ring Deutscher Makler (German Realty Association) RDM Red Mage (Final Fantasy, gaming) RDM Remote Device Management (protocol used in theatre lighting equipment) "), an Ohio based disease management company in an all stock transaction. RMI (Remote Method Invocation) A standard from Sun for distributed objects written in Java. RMI is a remote procedure call (RPC), which allows Java objects (software components) stored in the network to be run remotely. was formed by Continental to provide renal disease management services as an adjunct to Continental's dialysis related businesses, which included providing equipment, services and supplies to individuals in a dialysis treatment center, as well as patient's homes and other residential alternative sites, including prisons and nursing homes. RMI was comprised primarily of a network of nephrologists. It was the only dialysis related business retained by Continental following the completed sale of certain of Continental's assets to International Health Services health services Managed care The benefits covered under a health contract , Inc. in October, 1997, and the ongoing sale of the assets of Upper Manhattan Dialysis Center, Inc., a consulting customer of Continental. Steven L. Trenk, the President of Continental said "We are very happy to announce this transaction. RDM has a very strong team and a uniquely aggressive approach to the challenge of managing renal disease. We're excited about the prospect of realizing value for our shareholders as a result of their continuing efforts to improve the quality and reduce the costs of care to the renal patient population." This press release contains forward looking statements which involve numerous risks and uncertainties. Actual results could differ materially from those anticipated in such forward looking statements as a result of certain factors, including those set forth in the letter of intent and related documents. |
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