DENVER–(BUSINESS WIRE)–Liberty Dialysis Holdings, Inc. (“Liberty”), a leading provider of
dialysis services, completed its merger with Fresenius Medical Care
(“Fresenius”) on February 28, 2012. Liberty is the holding company for
Liberty Dialysis and Renal Advantage. KRG Capital Partners, a
Denver-based private equity firm, is the primary investor in Liberty,
along with co-investor Bain Capital Ventures.
“We chose to partner with KRG because of its track record of
supporting growth, its ability to make quick decisions and its focus on
assisting management teams in building true industry leading companies.”
Based in Mercer Island, WA, Liberty provides dialysis services for
patients who have been diagnosed with chronic kidney disease (“CKD”) or
end stage renal disease (“ESRD”). Under the Liberty brand, the Company
pioneered the physician joint venture model working collaboratively with
empowered physician owners to drive excellent and cost-effective care.
Under the Renal Advantage brand, the Company built a successful track
record of developing and acquiring dialysis programs and working closely
with market-leading physicians. Liberty has been the fastest growing
dialysis company over the last five years and has grown from 15 programs
in 2005 to over 280 at the end of 2011.
“Liberty’s management team has done an outstanding job of executing on
its growth plan while maintaining its focus on patient care,” said Mark
King, Co-founder and Managing Director of KRG Capital Partners.
“Throughout KRG’s partnership with Liberty, the team has driven
significant growth through its existing joint ventures, new programs and
accretive acquisitions, including Renal Advantage.”
“Partnering with KRG provided the resources needed for Liberty to expand
rapidly and become the world’s third largest dialysis provider while
consistently providing outstanding quality care,” said Mark Caputo, CEO
of Liberty. “We chose to partner with KRG because of its track record of
supporting growth, its ability to make quick decisions and its focus on
assisting management teams in building true industry leading companies.”
Fresenius was advised in this transaction by Baker McKenzie. KRG and
Liberty were advised by Ropes Gray LLP.
About Liberty Dialysis
With more than 280 dialysis programs operating under the Liberty
Dialysis and Renal Advantage brands, Liberty Dialysis is dedicated to
providing outstanding care for patients with kidney disease and a
rewarding career experience for its 5,300 caregivers and employees.
Liberty has a history of developing programs in underserved communities
in conjunction with local physicians and non-profit organizations.
Liberty partners with local nephrologists and hospitals in developing,
owning and operating these centers. Liberty was founded in 2002 by Mark
Caputo and Bob Santelli and currently generates more than $1 billion in
annual revenues. In 2010, KRG Capital Partners acquired a significant
stake in Liberty from Bain Capital Ventures and subsequently financed
Liberty’s merger with Renal Advantage, adding another well respected
brand to its portfolio. Liberty’s primary equity sponsor is KRG Capital
Partners. For more information on the company, please visit the website
for Liberty Dialysis at www.libertydialysis.com.
About KRG Capital Partners
Founded in 1996, KRG is a Denver-based private equity buyout firm with
$4.3 billion of cumulative capital either deployed or available for
future investment, which includes approximately $1 billion deployed
since inception on behalf of equity co-investors. The firm seeks
investment opportunities for its partners where KRG can work in concert
with owners and operating managers who are committed to expanding their
companies and becoming industry leaders. The result is a partnership
that focuses on creating a significantly larger enterprise through a
combination of internal growth and complementary add-on acquisitions.
Since inception, KRG has invested in 41 platform companies and has
completed 128 add-on acquisitions for those platforms. For more
information on KRG, please visit www.krgcapital.com.
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