Renal Ventures plans to use this investment to fund growth initiatives including additional treatment center acquisitions, de novo center openings and expansion into related services.
A privately held company, Renal Ventures Management’s existing shareholders will continue to maintain a significant control position under the terms of the agreement.
In addition to the investment from Goldman Sachs, Renal Ventures Management announced that it has successfully completed syndication of a senior credit facility with JP Morgan Chase & Co and Vectra Bank Colorado, a Colorado-based subsidiary of Zions Bancorporation, to provide the company with additional capital for growth and operations.
Renal Ventures Management chief financial officer Dan May said Goldman Sachs, JP Morgan Chase and Vectra Bank understand the dynamics of the renal care sector in general and our differentiated model in particular, and we are proud to team with these world-class organizations to fuel Renal Ventures Management’s next stage of growth.
"These investments will streamline our footprint expansion efforts and allow us to more quickly build out complementary renal care services and new co-ventures with top physicians, to ultimately provide more patients with knowledgeable, compassionate and quality-focused care," May said.
