(Reuters) – Dialysis Corporation of America (DCAI.O) agreed to be acquired by privately held U.S. Renal Care Inc for about $112 million, the companies said.
U.S. Renal Care will pay Dialysis Corp $11.25 per share, a premium of 72 percent to Dialysis Corp stock’s closing price Tuesday on Nasdaq.
U.S. Renal Care, which operates outpatient treatment centers for persons suffering from chronic kidney failure, will start a tender offer for all the outstanding common shares of Dialysis and expects to close the deal in May.
RBC Capital Markets is the financial advisor for U.S. Renal Care, while Dresner Partners will act as financial advisor for Dialysis Corp, which provides kidney hemodialysis centers and in-hospital dialysis services on a contract basis.
Shares of Dialysis Corp rose about 72 percent to $11.24 in pre-market trade. They closed at $6.52 Tuesday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Gopakumar Warrier)