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U.S. Renal Care, Inc., a privately-held leading provider of outpatient dialysis services, and Dialysis Corporation of America, Inc. (Nasdaq: DCAI) $11.20, up $4.68, a leading provider of outpatient kidney dialysis centers, announced today that they have entered into a definitive merger agreement for USRC to acquire DCA.
Under the terms of the agreement, USRC, through a subsidiary, will commence a tender offer for all of the outstanding common shares of DCA for $11.25 per share in cash, followed by a merger to acquire all remaining outstanding DCA shares at the same cash price paid in the tender offer. The offer price represents a premium of approximately 72 percent over yesterday's closing stock price. The transaction is valued at approximately $112 million.
What They Do: Dialysis Corporation of America owns and operates freestanding kidney hemodialysis centers located in Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, and Virginia, and provides in-hospital dialysis services on a contract basis to certain hospitals located in the those states.
Adeona Pharmaceuticals, Inc., (AMEX: AEN) $2.16, Up $0.64. Today announced positive results of Part 1 of its CopperProof-2 clinical study of Zinthionein ZC (zinc cysteine) in Alzheimer's disease and mild cognitive impairment.
Adeona will hold a conference call today at 2:00 p.m. EDT to discuss these results and answer questions. Adeona's Chief Executive Officer, James S. Kuo, M.D., M.B.A., will host the call and will be joined by David A. Newsome, M.D., Senior Vice President of Research and Development.
What They Do: Adeona is a pharmaceutical company developing new medicines for serious central nervous systems diseases.
Trico Marine Services (Nasdaq: TRMA) $2.98, Up $0.60. Today announced the sale of one of its North Sea class vessels for approximately $16 million to a buyer in Asia, bringing the total in asset sale proceeds since the beginning of the year to approximately $20 million. The Company expects to use the proceeds to service debt obligations.
In addition, the Company today announced new contract awards representing over $25 million in value relating to new subsea contract awards for projects in the North Sea. Contracts awarded for the Company's Subsea Services and Subsea Protection divisions include the following: DeepOcean was awarded a long term frame agreement for subsea services with a major oil company involving firm work for three annual campaigns covering structural and pipeline inspection in the UK and Norwegian sectors of the North Sea. CTC Marine was awarded its second significant offshore renewable energy contract in the North Sea whereby CTC Marine will load out and install powered cable and then provide the associated survey works, trenching scope, and stabilisation of the cable.
What They Do: The Trico Marine Group is an integrated provider of subsea, trenching and marine support vessels and services.
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