Dialysis Corp. of America shares surge as US Renal Care agrees to pay $112 million for company

US Renal Care pays $112 million for Dialysis Corp.

PLANO, Texas — Shares of Dialysis Corp. of America surged Wednesday after U.S. Renal Care Inc. said it will buy the Linthicum, Md., company for about $112 million.

U.S. Renal Care, which is based in Plano, Texas, will begin a tender offer of $11.25 per share for Dialysis Corp. The deal marks a 73 percent premium to Tuesday’s closing price of $6.52. The buyer is a privately held provider of outpatient dialysis services.

U.S. Renal Care CEO Chris Brengard said in a statement the deal allows his company to build a stronger, more efficient national operation. It currently operates 47 dialysis clinics in Texas and Arkansas.

After closing, U.S. Renal Care will provide dialysis services to about 5,500 patients through 84 outpatient dialysis facilities across nine states, more than 12 home dialysis programs, and 24 dialysis programs within hospitals.

The Dialysis Corp. board unanimously approved the deal, and U.S. Renal Care expects it to close in May.

Royal Bank of Canada will provide debt financing, and SV Life Sciences, Cressey & Co. and Salix Ventures will provide additional equity financing.

Dialysis Corp. shares soared $4.69 or nearly 72 percent, to close at $11.21.