DIALYSIS PROVIDER MERGERS AND ACQUISITIONS - TO SELL OR NOT TO SELL (PART I)

Clear the end-stage renal disease (ESRD) field is going through a time of rapid change and consolidation. As providers, it is almost inevita ble that the question ''Should we sell?'' will arise. It the answer is no, then the question becomes, ''What should we do to deal with this new environment?'' While there are no easy answers to these questions, this article will discuss some of the considerations that might be ap propriate. First, a review of at the trend toward consolidation will b e presented. This will be followed by a number of general questions to ponder as one looks at whether or not to consider selling or merging with another provider. The remainder of this article (Part II) will ex plore some of the considerations that a unit must face when the act of being acquired or merging is, in fact, a serious option. these consid erations include the process, the valuation, the deal structure, the u se of advisors, the choice of a buyer, and the planning for ''after th e sale.''.