Dialysis Clinic Inc. will acquire Troy. N.Y.-based Hortense and Louis Rubin Dialysis Center, the dialysis providers said in a news release. Terms of the pending transaction were not disclosed.
“DCI and the RDC have signed a letter of intent to pursue the purchase of the RDC by DCI,” said Wayne Evancoe, CEO for the Rubin Dialysis Center. "Rubin Dialysis Center is planning to transfer proceeds from the sale to a new Rubin not-for-profit foundation that is expected to support a range of activities in chronic renal disease and related health-care fields in the greater Capital Region."
DCI and the Rubin Dialysis Center are conducting their due diligence, the companies said in the release. Once they reach a final agreement, the New York State Department of Health must finalize the transaction by approving a certificate of need.
“We are honored that The Rubin Dialysis Center (RDC) has chosen to affiliate with DCI on behalf of their patients and employees," said DCI President Ed Attrill. "We have a great deal of respect for the care provided by RDC staff and physicians, and we will work diligently to continue offering high quality dialysis services where the focus will remain on the care of the patient.”
"This transition will help the Rubin Center adapt to coming changes in the regulatory and competitive landscape, enhance our already high quality of care, and preserve our not-for-profit commitment to 'providing dialysis with dignity,'" said Evancoe. "After extensive research, our board has concluded that DCI is an ideal partner for the Rubin Center going into the future. We will grow our services. We will focus on each individual patient who needs life-sustaining care. And we will continue to maintain and invest in a highly skilled workforce."
The Rubin Dialysis Center Inc. was founded in 1986 in Troy with a founding gift of $750,000 from the late Hortense and Louis Rubin. Since its inception, the Rubin Dialysis Center has grown from eight to 57 dialysis stations and from one to three centers where patients receive dialysis. Rubin Dialysis Center is the largest single provider of NxStage home therapy in the United States. About 30% of the center's 420 patients receive care through home dialysis therapies. In 1998 it became the first system in the United States to use the Internet to monitor patients in their homes receiving dialysis while they sleep.
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