U.S. Renal Care to Be Acquired by Investor Group

U.S. Renal Care, Inc., a leading provider of dialysis services for
patients suffering from end stage renal disease, today announced that it
has entered into a definitive agreement to be acquired by a private
investor group led by Chris Brengard and the U.S. Renal management team,
along with Bain Capital Private Equity, Summit Partners, Revelstoke
Capital Partners, and Mark Caputo (collectively the “Investor Group”).
U.S. Renal Care will continue to operate under its current management
team, who will remain significant investors in the company. Financial
terms of the private transaction were not disclosed.

Founded in 2000 by Chris Brengard and an experienced team of healthcare
executives, U.S. Renal Care partners with nephrologists and hospitals to
develop, acquire, and operate outpatient treatment centers for patients
suffering from kidney failure, also known as end stage renal disease.
The company provides patients with their choice of a full range of
quality in-center and at-home dialysis. Today, U.S. Renal Care serves
approximately 25,000 patients in 335 dialysis facilities across 32
states and the Territory of Guam.

“We are pleased to be partnering with an Investor Group that shares our
commitment to serving patients and continuing to be the highest care
provider by enhancing the quality of life for people living with chronic
renal disease,” said Chris Brengard, Chief Executive Officer of U.S.
Renal Care. “With additional support and resources, we and our physician
partners look forward to embarking on our next phase of growth while
continuing to deliver excellent patient outcomes and the best service
available in our communities.”

“We have been impressed with U.S. Renal Care’s focus on strong physician
partnerships that allows the company to deliver high-quality care for
patients,” said Chris Gordon, a Managing Director at Bain Capital
Private Equity. “We look forward to supporting the company’s experienced
management team and our partner physicians in continued growth, while
remaining focused on the company’s coordinated and compassionate
approach to patient care,” said Devin O’Reilly, a Managing Director at
Bain Capital Private Equity.

“We have enjoyed a productive partnership with U.S. Renal Care, working
closely with Chris Brengard and the management team in supporting their
efforts to provide expanded access and care to patients,” said John
Baumer, a Senior Partner at Leonard Green & Partners, a current investor
in U.S. Renal Care alongside Frazier Healthcare Partners, New Enterprise
Associates, Inc., and Cressey & Company. “We are thankful to have had
the opportunity to grow the business over the past seven years and we
wish Chris and the new ownership group continued success.”

The transaction is subject to customary closing conditions, including
requisite regulatory approvals.

Goldman Sachs and Barclays are serving as financial advisors, and Latham
& Watkins is serving as legal counsel to U.S. Renal Care. Ropes & Gray
is serving as legal counsel, and PwC is acting as accounting advisor, to
the Investor Group. Weil, Gotshal & Manges are serving as legal counsel
to the management team.

About U.S. Renal Care, Inc.

Founded in Jonesboro, Arkansas, in 2000 by an experienced team of
healthcare executives, U.S. Renal Care, Inc. works in partnership with
nephrologists to develop, acquire, and operate outpatient treatment
centers for persons suffering from chronic kidney failure, also known as
End Stage Renal Disease (ESRD). The company provides patients with their
choice of a full range of quality in-center and at-home hemodialysis, as
well as at-home peritoneal dialysis services. Headquartered in Plano,
Texas, U.S. Renal Care serves approximately 25,000 patients in 335
dialysis facilities across 32 states and the Territory of Guam. For more
information on U.S. Renal Care, Inc., please visit www.usrenalcare.com.

About Bain Capital Private Equity

Bain Capital Private Equity (www.baincapitalprivateequity.com)
has partnered closely with management teams to provide the strategic
resources that build great companies and help them thrive since its
founding in 1984. Bain Capital Private Equity’s global team of
approximately 240 investment professionals creates value for its
portfolio companies through its global platform and depth of expertise
in key vertical industries including healthcare, consumer/retail,
financial and business services, industrials, and technology, media and
telecommunications. Bain Capital has 19 offices on four continents. The
firm has made primary or add-on investments in more than 760 companies
since its inception. In addition to private equity, Bain Capital invests
across asset classes including credit, public equity, venture capital
and real estate, managing approximately $105 billion in total and
leveraging the firm’s shared platform to capture opportunities in
strategic areas of focus.

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