American Renal Associates Holdings, Inc. Names Don E. Williamson, M.D. as Chief Operating Officer
September 19 2017 - 4:15PM
Business Wire
American Renal Associates Holdings, Inc. (NYSE: ARA) (“ARA” or
the “Company”), a leading provider of outpatient dialysis services,
today announced that it has named Don E. Williamson, M.D. as
Executive Vice President and Chief Operating Officer (COO)
effective today. Williamson has served as one of ARA’s National
Chief Medical Officers since 2011, and has been an ARA physician
partner since 2002. Williamson has more than 26 years of experience
as a nephrologist, and he most recently served as President, CEO
and Managing Partner of Nephrology Associates, P.C., a leading
nephrology practice group based in Georgia that employs 13
providers and more than 35 staff. Williamson is a graduate of
Mercer University and the Medical College of Georgia.
Joseph (Joe) Carlucci, Chairman and Chief Executive Officer,
said, “Don is a proven clinical leader with outstanding operational
skills, and he is passionate about our Core Values. Don brings to
the COO role a deep understanding of the dialysis industry and the
practice of nephrology, and he possesses a clear vision for how
ARA’s physician-driven partnership model can drive quality results
for patients and key stakeholders. Don’s professional
accomplishments are impressive, and he is respected inside and
outside of ARA as a thoughtful and results-oriented leader who has
dedicated his career to improving the lives of patients with kidney
disease. We are fortunate to have Don join our leadership team,
and, on behalf of the entire ARA family, I am very pleased to
welcome Don on board as COO.”
“I am honored to have the opportunity to join ARA’s leadership
team. I am committed to helping ARA deliver the best clinical
performance in the dialysis industry, while also helping ARA drive
growth and innovation. I look forward to working with ARA’s staff
and physician partners nationwide so we can continue to build on
the success of the Company’s clinically-integrated operating model
together,” said Williamson.
About American Renal Associates
American Renal Associates Holdings, Inc. (NYSE: ARA) is a
leading provider of outpatient dialysis services in the United
States. As of June 30, 2017, ARA operated 217 dialysis clinic
locations in 25 states and the District of Columbia serving
approximately 15,000 patients with end stage renal disease. ARA
operates exclusively through a physician partnership model, in
which it partners with more than 385 local nephrologists to
develop, own and operate dialysis clinics. ARA’s Core Values
emphasize taking good care of patients, providing physicians with
clinical autonomy and operational support, hiring and retaining the
best possible staff and providing best practices management
services. For more information about American Renal Associates,
visit www.americanrenal.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements, which have been included in reliance of
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, involve risks and uncertainties and assumptions
relating to our operations, financial condition, business,
prospects, growth strategy and liquidity, which may cause our
actual results to differ materially from those projected by such
forward-looking statements, and the Company cannot give assurances
that such statements will prove to be correct. You can identify
forward-looking statements because they do not relate strictly to
historical or current facts. These statements may include words
such as “aim,” “anticipate,” “believe,” “estimate,” “expect,”
“forecast,” “outlook,” “potential,” “project,” “projection,”
“plan,” “intend,” “seek,” “may,” “could,” “would,” “will,”
“should,” “can,” “can have,” “likely,” the negatives thereof and
other words and terms of similar meaning in connection with any
discussion of the timing or nature of future operating or financial
performance or other events.
The forward-looking statements appear in the third paragraph of
this press release and include statements regarding our future
performance, growth and strategy. All forward-looking statements
are subject to risks and uncertainties, including but not limited
to those risks and uncertainties described in “Risk Factors” and
“Special Note Regarding Forward-Looking Statements” in our Annual
Report on Form 10-K for the year ended December 31, 2016, our 10-Q
for the quarter ended March 31, 2017 and our 10-Q for the quarter
ended June 30, 2017 filed with the Securities and Exchange
Commission, that may cause actual results to differ materially from
those that we expected.
Some of the factors that could cause actual results to differ
materially from those expressed or implied by the forward-looking
statements include, among others, the following:
- decline in the number of patients with
commercial insurance, including as a result of changes to the
healthcare exchanges or changes in regulations or enforcement of
regulations regarding the healthcare exchanges and challenges from
commercial payors or any other regulatory changes leading to
changes in the ability of patients with commercial insurance
coverage to receive charitable premium support;
- decline in commercial payor
reimbursement rates;
- the ultimate resolution of the Centers
for Medicare & Medicaid Services (“CMS”) Interim Final Rule
published December 14, 2016 related to dialysis facilities
Conditions for Coverage (CMS 3337-IFC), including an issuance of a
different but related Final Rule;
- reduction of government-based payor
reimbursement rates or insufficient rate increases or adjustments
that do not cover all of our operating costs;
- our ability to successfully develop de
novo clinics, acquire existing clinics and attract new physician
partners;
- our ability to compete effectively in
the dialysis services industry;
- the performance of our joint venture
subsidiaries and their ability to make distributions to us;
- changes to the Medicare ESRD program
that could affect reimbursement rates and evaluation criteria, as
well as changes in Medicaid or other non-Medicare government
programs or payment rates, including the ESRD PPS final rule for
2017 issued on October 28, 2016 and the ESRD PPS proposed rule for
2018 issued on June 29, 2017;
- federal or state healthcare laws that
could adversely affect us;
- our ability to comply with all of the
complex federal, state and local government regulations that apply
to our business, including those in connection with federal and
state anti-kickback laws and state laws prohibiting the corporate
practice of medicine or fee-splitting;
- heightened federal and state
investigations and enforcement efforts;
- the impact of the litigation by
affiliates of UnitedHealth Group, Inc., the Department of Justice
inquiry, securities litigation and related matters;
- changes in the availability and cost of
erythropoietin-stimulating agents and other pharmaceuticals used in
our business;
- development of new technologies that
could decrease the need for dialysis services or decrease our
in-center patient population;
- our ability to timely and accurately
bill for our services and meet payor billing requirements;
- claims and losses relating to
malpractice, professional liability and other matters; the
sufficiency of our insurance coverage for those claims and rising
insurances costs; and any negative publicity or reputational damage
arising from such matters;
- loss of any members of our senior
management;
- damage to our reputation or our brand
and our ability to maintain brand recognition;
- our ability to maintain relationships
with our medical directors and renew our medical director
agreements;
- shortages of qualified skilled clinical
personnel, or higher than normal turnover rates;
- competition and consolidation in the
dialysis services industry;
- deteriorations in economic conditions,
particularly in states where we operate a large number of clinics,
or disruptions in the financial markets;
- the participation of our physician
partners in material strategic and operating decisions and our
ability to favorably resolve any disputes;
- our ability to honor obligations under
the joint venture operating agreements with our physician partners
were they to exercise certain put rights and other rights;
- unauthorized disclosure of personally
identifiable, protected health or other sensitive or confidential
information;
- our ability to meet our obligations and
comply with restrictions under our substantial level of
indebtedness; and
- the ability of our principal
stockholder, whose interests may conflict with yours, to strongly
influence or effectively control our corporate decisions.
The forward-looking statements made in this press release are
made only as of the date of the hereof. Except as required by law,
we undertake no obligation to update any forward-looking statement,
whether as a result of new information or otherwise. More
information about potential factors that could affect our business
and financial results is included in our filings with the
Securities and Exchange Commission.
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American Renal Associates Holdings, Inc.Darren Lehrich,
978-522-6063SVP Strategy & Investor Relationsdlehrich@americanrenal.com
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