Renal Success

I first blogged about Renal Solutions, based in Warrendale, PA, more than three years ago. I wrote:
What we can do is look around for ways in which we can make the city and the region better, and we can celebrate ways in which others are doing the same.

Today's suggestion is from the business sector, courtesy of a friend: A company in Warrendale, PA called Renal Solutions, which could use a sexier name but which is apparently making some nice progress on the biotech front.

Today, Renal Solutions announced that it has been acquired. The acquiror, according to a press release on the company's site, is "Fresenius Medical Care AG & Co. KGaA. RSI will continue operations as a wholly owned subsidiary of Fresenius Medical Care, the largest integrated global provider of dialysis products and services. [RSI President and CEO] Peter DeComo will continue to lead RSI operations in Warrendale, PA and Oklahoma City, OK." The total purchase price is $190 million.

This is a great success story for the region. Congratulations to Peter and to RSI (and to Draper Triangle Ventures, the local venture firm that backed RSI).

Comments

1 Response to "Renal Success"

Anonymous said... 11/30/2007 8:22 AM

This is huge (at many levels)for the burgeoning life sciences industry in the region. Enough credit cannot be given to Pete for his hard work and determination to make it happen HERE. Thanks, as always, for the interesting posts Mike.

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Pittsblog 2.0 is written by Mike Madison, a law professor at the University of Pittsburgh. Send email to michael.j.madison[at]gmail.com. Mike also blogs at Madisonian.net, on law and technology. Chris Briem of Null Space drops by from time to time.

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