US Renal Care, a provider of dialysis services for patients suffering from end stage renal disease, has signed a definitive agreement to be acquired by a private investor group led by its founder Chris Brengard and the company’s management team, along with Bain Capital Private Equity, Summit Partners, Revelstoke Capital Partners and former Liberty Dialysis CEO Mark Caputo.

The firm will continue to operate under its existing management team, who will remain significant investors in the company.

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Financial details of the deal were not divulged.

Set up in 2000 by Chris Brengard and a team of healthcare executives, US Renal Care teams up with nephrologists and hospitals to develop, acquire, and operate outpatient treatment centers for patients suffering from kidney failure.

The firm offers patients with their choice of a complete range of in-center and at-home dialysis.

Currently, it serves around 25,000 patients in 335 dialysis facilities across 32 states and the Territory of Guam.

U.S. Renal Care CEO Chris Brengard said: “We are pleased to be partnering with an Investor Group that shares our commitment to serving patients and continuing to be the highest care provider by enhancing the quality of life for people living with chronic renal disease.

“With additional support and resources, we and our physician partners look forward to embarking on our next phase of growth while continuing to deliver excellent patient outcomes and the best service available in our communities.”

Bain Capital Private Equity managing director Chris Gordon said: “We have been impressed with U.S. Renal Care’s focus on strong physician partnerships that allows the company to deliver high-quality care for patients.”

Leonard Green & Partners senior partner John Baumer said: “We have enjoyed a productive partnership with U.S. Renal Care, working closely with Chris Brengard and the management team in supporting their efforts to provide expanded access and care to patients.

“We are thankful to have had the opportunity to grow the business over the past seven years and we wish Chris and the new ownership group continued success.”

Leonard Green & Partners is an investor in US Renal Care alongside Frazier Healthcare Partners, New Enterprise Associates, and Cressey & Company.

The deal is subject to customary closing conditions, including regulatory approvals.

Goldman Sachs and Barclays are serving as financial advisors, while Latham & Watkins is serving as legal counsel to US Renal Care.

Ropes & Gray is acting as legal counsel, and PwC is serving as accounting advisor to the investor group.

Weil, Gotshal & Manges is serving as legal counsel to the management team.