BOSTON—Private equity firm Centerbridge Partners LP has acquired American Renal Holdings, and its affiliate American Renal Associates, from Pamlico Capital, according to a March 25 news release.
American Renal Holdings and its physician partners own and operate 83 dialysis clinics treating more than 5,500 patients across the United States. Under the agreement, Centerbridge will acquire ARH in partnership with ARH management.
“We are very excited to enter this next stage of our company’s growth in partnership with Centerbridge, a leading private equity firm,” said Joseph Carlucci, CEO and co-founder of ARH. “Going forward, ARH’s strategy will remain unchanged as our staff and physician partners continue to provide excellent care to the patients that choose our centers and build on our best-in-class reputation for outstanding clinical care in dialysis services.”
The closing of the transaction is subject to regulatory approvals and other customary conditions, and is expected to close in the second quarter of 2010. Financial terms of the acquisition were not disclosed.
“We look forward to our partnership with ARH, a growing firm with a strong business model that provides superior dialysis services to its patients,” said Steven Silver, senior managing director of Centerbridge. “We believe that ARH is uniquely positioned to benefit from the dynamic state of our nation’s healthcare system and are excited about ARH’s strong prospects.”
Neal Morrison, partner of Pamlico Capital (formerly known as Wachovia Capital Partners), ARH’s lead institutional investor and largest shareholder, said “Our successful partnership with management, which began in 2004, is evidenced by ARH’s growth into one of the largest dialysis providers in the country focused exclusively on partnerships with physicians, while providing best-in-class patient care. We believe this company is on the path for continued success and we wish them well.”
