Kent J. Thiry Named Chairman and Chief Executive Officer of Total Renal Care, Inc
TORRANCE, Calif., Oct. 18 /PRNewswire/ -- Total Renal Care, Inc. (NYSE: TRL) announced today the appointment of Kent J. Thiry as its new Chairman of the Board and Chief Executive Officer, effective today.
Prior to accepting this position, Mr. Thiry, 43, was President and Chief Executive Officer of Vivra, Incorporated, from 1992 until 1997. Vivra's largest division was the nation's second largest dialysis services business. In 1997, Vivra's dialysis business was sold to Gambro AB for approximately $1.5 billion in cash. Vivra retained two smaller healthcare service operations.
Maris Andersons, Chairman of the Finance Committee of the Board of Directors of Total Renal Care, said, "On behalf of the entire board, we feel very fortunate to have attracted Kent Thiry to Total Renal Care. Mr. Thiry has an outstanding reputation within our industry, comes to our Company with a great track record in managing a major dialysis services company, and understands the importance of building shareholder value. We are confident that our patients, physician partners, employees and shareholders will benefit from his professional talents and capabilities, and that he will lead Total Renal Care to fulfill its tremendous potential within the patient services industry."
Mr. Thiry said, "I am very excited to join Total Renal Care, a leader in the dialysis industry. The Company's management team is very well regarded, and I am looking forward to working with them in order to meet the challenges that the Company faces and to help it grow to new levels of strength and achievement. I love this industry and am thrilled to return to it."
Mr. Thiry's appointment culminates a search which began earlier this year, when the former Chairman and Chief Executive Officer of Total Renal Care, Victor M.G. Chaltiel, decided to step down for compelling personal reasons.
Before his appointment to the position of president and chief executive officer of Vivra, Mr. Thiry served as Vivra's president and chief operating officer from 1991 to 1992. Prior to his tenure at Vivra, Mr. Thiry was a partner at Bain & Company, an international management consulting firm. From 1978 to 1981, he was a Senior Consultant with Andersen Consulting.
Mr. Thiry earned a BA degree in Political Science, with Phi Beta Kappa honors, from Stanford University in 1978 and earned an MBA, with honors, from Harvard Business School in 1983. He is also a member of the board of directors of Oxford Healthcare and of the Volunteer Center of San Mateo County.
Torrance, California-based Total Renal Care Holdings, Inc. is the second largest (and largest independent) worldwide provider of integrated dialysis services for patients suffering form chronic kidney failure. The Company owns and operates high-quality, free-standing kidney dialysis centers and home peritoneal dialysis programs in 34 states, as well as Washington, D.C., Puerto Rico, Guam, Argentina and several European countries. It also provides high quality acute hemodialysis services to inpatients at approximately 330 hospitals. As of September 1, 1999, Total Renal Care operated 566 outpatient dialysis facilities serving more than 45,000 patients, including more than 4,000 patients in 51 centers under Total Renal Care management . Total Renal Care also operates ESRD laboratory and pharmacy facilities, as well as vascular access management, transplant services and ESRD clinical research programs.
This release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding future operations and growth plans and involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the uncertainties associated with governmental regulation, general economic and other market conditions, and the "risk factors" set forth in the Company's filings with the Securities and Exchange Commission, including but not limited to (1) the risks inherent in the Company's growth strategy, (2) possible changes in Medicare and Medicaid reimbursement rates, (3) dependence on physician referrals, (4) risks associated with operations outside the United States, and (5) the amount of leverage the Company has obligations to pay. The forward-looking statements should be considered in light of these risks and uncertainties.
SOURCE Total Renal Care, Inc.