Nashville, Tenn.-based Renal Care Group, a publicly held nephrology services provider, completed its $72 million merger with Renalwest, a dialysis company based in Mesa, Ariz. The transaction was a tax-free exchange of stock and will be treated as a pooling of interests. Under the agreement, Renal Care Group issued 2.4 million shares of common stock, leaving 13.6 million shares outstanding. As a result of the merger, Renal Care Group will operate 75 outpatient dialysis centers in 15 states and provide acute dialysis services at 42 hospitals. In 1995, Renalwest reported net revenues of $32 million, and Renal Care Group posted net revenues of $82.6 million.
Diagnostic Health Services plans to purchase certain business assets of Horizon/CMS Healthcare Corp. The business is Horizon's Advanced Clinical Technology subsidiary, which provides ultrasound diagnostics and related services. Dallas-based DHS provides medical outsourcing to hospitals, physician offices and other healthcare facilities mainly in the Midwest and South Central regions. Max W. Batzer, chairman of DHS, said the acquisition will add $13 million in gross revenues and will increase the size of DHS by half. On completion of the deal, expected in November, DHS will operate in 22 states and Mexico City.
Capstone Capital Corp. has reached a $39 million agreement with Grand Court Lifestyles to develop and lease four assisted-living facilities over two years. Grand Court Lifestyles, a Boca Raton, Fla.-based operator of adult-living communities, has 30 facilities with 4,350 units in 11 states. Capstone, a Birmingham, Ala.-based real estate investment trust, owns, leases and finances 51 healthcare properties in 13 states.
Superior Consultant Holdings Corp., the Southfield, Mich.-based parent of Superior Consultant Co. and Unitive Corp., earlier this month began an initial public offering of 2.5 million shares of common stock at $16 per share. Superior Consultant Co., founded in 1984, provides healthcare information technology consulting services and other strategic and operations management services. Unitive Corp., founded in 1993, assists clients in developing, designing, implementing and maintaining information systems based on the Internet and its emerging technologies.
