Date: Thu, 18 Dec 1997 15:02:33 GMT Server: Apache/1.2.0 Connection: close Content-Type: text/html
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PRESS RELEASE
AT THE COMPANY | AT THE FINANCIAL RELATIONS BOARD |
VICTOR M.G. CHALTIEL, CEO OR JOHN E. KING, CFO AT (310) 792-2600 |
DANIEL SAKS, GENERAL INFORMATION MOIRA CONLON, INVESTOR CONTACT STEVEN SEILER, MEDIA CONTACT AT (310) 442-0599 KATHY BRUNSON, INVESTOR CONTACT AT (312) 266-7800 |
TOTAL RENAL CARE PRICES EQUITY OFFERING
TORRANCE, CA, October 31, 1996 -- Total Renal Care Holdings, Inc. (NYSE: TRL) today announced it has priced a public offering of 2,500,000 shares at $39 per share. 2,000,000 shares were sold by selling stockholders and 500,000 shares were sold by the Company. Donaldson, Lufkin & Jenrette Securities Corporation is the lead underwriter of the offering with Merrill Lynch & Co. and UBS Securities LLC acting as co-managers.
Net proceeds from the sale of shares by the Company will be used for acquisitions, de novo development and for working capital and other corporate purposes. Pending such uses, the Company may use such proceeds to reduce the amount under the revolving portion of the Company's credit facility. The Company will not receive any of the proceeds from the sale of the shares being sold by the selling stockholders.
This offer will be made only by means of a prospectus. Copies of the prospectus relating to the offer may be obtained from the managing underwriters in New York, N.Y.
Based in Torrance, Calif., Total Renal Care Holdings, Inc., is the third largest provider of integrated dialysis services in the U.S. for patients suffering from chronic kidney failure. The Company owns and operates high-quality, free-standing kidney dialysis centers and home peritoneal dialysis programs in 16 states, Washington, DC, and Guam, and also provides high-quality acute hemodialysis services to inpatients on behalf of 84 hospitals. TRL has increased its number of outpatient dialysis facilities to 128 with 1,876 stations and provides services to more than 9,800 patients. The Company additionally operates ESRD laboratory and pharmacy facilities, as well as vascular access management and transplant services programs.
For information on Total Renal Care Holdings, Inc. via facsimile at no cost, call 1-800-PRO-INFO and dial company code 039.