American Renal Associates Buys 2 Pennsylvania Dialysis Centres.
M2 EQUITYBITES-October 14, 2016-American Renal Associates Buys 2 Pennsylvania Dialysis Centres
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14 October 2016 - US-based outpatient dialysis center provider American Renal Associates LLC (NYSE: ARA), together with certain of its local physician partners, has purchased Clarion, Pennsylvania-based dialysis centre Renal Care of Clarion, LLC and Cranberry, Pennsylvania-based dialysis centre Renal Care of Oil City, Inc. from Dr. David Brooker and entities affiliated with members of the Dreiling family, the company said.
Brooker will remain a co-owner of the centres.
The effective date of the purchase was 1 September 2016.
These dialysis centres will be renamed Clarion Dialysis Center and Oil City Dialysis Center, respectively, and will be managed by ARA.
Prior to the sale, Dreiling Medical Management Corp. (Dreiling) managed both of the centers and Dr. David Brooker served as each center's medical director.
American Renal Associates Holdings, as of 30 June 2016, ARA operated 201 dialysis clinic locations in 25 states and the District of Columbia serving approximately 13,750 patients with end stage renal disease.
ARA operates exclusively through a physician partnership model, in which it partners with 369 local nephrologists to develop, own and operate dialysis clinics.
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