HIALEAH, Fla., Jan. 19, 2005 (PRIMEZONE) -- Medicore, Inc. (Nasdaq:MDKI) reported that its 57% owned and publicly traded subsidiary, Dialysis Corporation of America (Nasdaq:DCAI), announced the development of three new dialysis facilities in South Carolina, bringing its number of facilities in that state to four and the total number of freestanding kidney hemodialysis facilities owned, managed or under development by Dialysis Corporation of America to 27 centers located in Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina and Virginia. One of the new facilities is an expansion of the dialysis division's existing presence in Aiken, South Carolina through the development of the additional center to serve the growing number of patients in that city.
The new facilities will offer state-of-the-art equipment and technology, be designed with patient comfort in mind, and include 15-18 treatment stations in each facility.
Medicore is primarily engaged in the operation of kidney dialysis centers through DCA, which owns or manages freestanding kidney hemodialysis centers as well as provides in-hospital services. Medicore also distributes medical products and holds investments in two affiliated Linux software companies.
This release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results and plans to differ materially from those anticipated. Those factors include but are not limited to, general economic conditions, certain delays beyond the company's control with respect to future business events, the likelihood of realizing the company's investments in the two affiliated Linux software companies, the ability of DCA to timely develop or acquire additional dialysis facilities, whether patient bases of certain of DCA's facilities, particularly its developmental stage facilities, can expand to provide profitability, regulation of dialysis operations, government rate determination for Medicare reimbursement, the highly competitive environment in the establishment and operation of dialysis centers, DCA's ability to develop or acquire additional dialysis facilities and other risks detailed in the company's filings with the Securities and Exchange Commission, particularly as described in the company's annual report on Form 10-K for the year ended December 31, 2003. Medicore's annual, quarterly and other reports filed with the Securities and Exchange Commission are available through Medicore's internet home page: http://www.medicore.com.