BEVERLY, MASS.--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.
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.