American Dental Partners Affiliates With Four Dental Practices in California.WAKEFIELD, Mass.--(BW HealthWire)--Sept. 22, 1999-- American Dental Partners, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADPI ADPI Alpha Delta Pi Sorority ADPI American Dairy Products Institute ADPI Analog Devices (Philippines) Inc ADPI Australian Dance Performance Institute (Brisbane, QLD, Australia) ) announced today that the Company completed affiliations with four dental practices located in California. The Company acquired certain non-clinical assets and entered into 40-year service agreements with each of these dental groups. In the aggregate, these four group dental practices have 22 dentists and generated approximately $13 million of patient revenue in 1998. The four dental group practices are Riverside Dental Group, Dental Associates of Riverside, Dental Associates of Moreno Valley Moreno Valley (mərē`nō), city (1990 pop. 118,779), Riverside co., S Calif., inc. 1984. In 1990, Moreno Valley was California's fastest-growing city, with a population increase of more than 300% between 1980 and 1990, but major reductions and Dental Associates of Corona. "We are pleased to have these four dental practices join our team of affiliates," said Gregory A. Serrao, Chief Executive Officer of American Dental Partners. "These affiliations mark our entry into the state of California and all four practices are strategically located in the same geographic area in southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . We are particularly pleased to affiliate with Riverside Dental Group, a 25 year old group that is nationally recognized for its commitment to quality care and practice innovation. We have known Riverside Dental Group for several years and are proud that this practice chose to affiliate with us," added Mr. Serrao. American Dental Partners, Inc. is one of the nation's leading dental practice management companies. Including this transaction, the Company is affiliated with 18 dental group practices and operates 131 dental facilities with more than 1,100 operatories located in Alabama, Arizona, California, Louisiana, Maryland, Minnesota, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Oklahoma, Pennsylvania Oklahoma is a borough in Westmoreland County, Pennsylvania, United States. The population was 915 at the 2000 census. Geography Oklahoma is located at (40.581613, -79.574586)GR1. , Texas, Virginia and Wisconsin. Note: Some of the information in this press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The words "believe," "expect," "anticipate," "project," and similar expressions, among others, identify forward-looking statements. Forward-looking statements speak only as of the date the statement was made. Such forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied. Certain factors that might cause such a difference include, among others, the Company's risks associated with its acquisition and affiliation strategy, management of rapid growth, dependence upon affiliated dental groups, dependence upon service agreements, government regulation of the dental industry and year 2000 compliance issues. Additional risks, uncertainties and other factors are set forth in the "Risk Factors" section of the Company's Registration Statement on Form S-4 (File No. 333-56941). |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion