U.S. Renal Care announces definitive agreements to acquire Dialysis Corporation of America

May 25 2010

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.

SOURCE U.S. Renal Care, Inc.