Dialysis veterans form Reliant Renal Care Inc.

PHILADELPHIA—A team of dialysis industry veterans has formed a new outpatient dialysis provider named Reliant Renal Care Inc. after receiving $50 million in private equity for acquisitions and development.

Reliant Renal Care is a renal disease management company with a focus to develop, acquire and operate outpatient treatment centers for patients suffering from end-stage renal disease. The new dialysis provider will work with selected nephrology physician practices and hospital systems to develop healthcare delivery systems in markets throughout the United States.

The Team

The executive management team is led by Barbara Bednar, who is RRC’s chief executive officer. She was the chief operating officer for Renal Treatment Centers and co-founder and chief operating officer for Physicians Dialysis Inc. Bednar began her 35-year career in nephrology as a nurse, and after receiving her masters in hospital administration, Bednar moved into executive management.

Scott Roncace is the chief financial officer of Reliant and has 20 years of experience, most recently with Call Inc., a privately held pharmaceutical company. He was senior manager of mergers and acquisitions for Deloitte and Touche.

Nola McMullen is the chief operating officer for the company, and has more than 20 years experience in nephrology and is a nurse who has had experience in operations at both DaVita and previously at Renal Treatment Centers.

Reliant's chief development officer, John Sullivan, has 17 years of experience in nephrology, which includes corporate development roles at Fresenius Medical Care. Sullivan was associate professor in the Finance faculty at Boston University. He has also been published extensively on the economics of dialysis.

Rounding out the management team is Larry Nail, senior vice president of Development. Nail has more than 18 years experience in healthcare, in acquisitions and development in dialysis centers and outpatient surgery centers.

Financing

Greenwich, Conn.-based Ferrer Freeman & Company, which invests exclusively in healthcare, led the company’s investor syndicate.  FFC was also an investor in Bednar’s previous dialysis company, Physicians Dialysis. Thomas Flynn of FFC will join Reliant's board of directors.

"We view the renal dialysis industry as an attractive segment of healthcare services and are extremely pleased to have the opportunity to partner again with Barbara Bednar," Flynn said. "We believe RRC has put together a solid management group with the ability to capitalize on a variety of acquisition and development opportunities."

Along with the financing, Reliant Renal Care closed the acquisition of a majority interest in four dialysis centers in central Michigan. As part of the transaction, McLaren Healthcare Corporation received stock in Reliant and will be represented on the Reliant board. Joining FFC and McLaren in the transaction is DW Healthcare Partners, a healthcare-focused private equity investor based in Salt Lake City. DWHP founder Andrew Carragher, whose past experience includes development roles at DaVita Inc., will join RRC’s board. Also, joining the board is Ron Hinds who was a founding member of Renal Care Group Inc. and also served as chief financial officer for RCG.

“I am excited to begin Reliant Renal Care Inc. with a very strong management team, solid private equity backing, and an outstanding partnership with McLaren Healthcare Corporation and key nephrologists in Michigan,” Bednar said. “Our goal as a company will be to focus on partnerships where possible and to be the strongest clinical provider of dialysis in the nation. I would also envision RRC leading the way from a clinical perspective in both home and self care dialysis. Our management team lends itself to being a uniquely strong clinical and operational company.”

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