American Dental Partners Affiliates With Hill Dental Group.WAKEFIELD, Mass.--(BW HealthWire)--June 14, 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 an affiliation with Hill Dental Group located in Columbia, Maryland Columbia is a census-designated place and planned community in Howard County, Maryland, United States. It is a suburb of Baltimore, and, to a lesser degree, Washington, DC. It began with the idea that a city could enhance its residents' quality of life. . The Company acquired certain non-clinical assets and entered into a 40-year service agreement with the practice. Hill Dental Group generated approximately $1 million of patient revenue in 1998. "We are pleased to affiliate with Hill Dental Group," said Gregory Serrao, Chief Executive Officer of American Dental Partners. "Hill Dental is a quality-focused dental practice Noun 1. dental practice - the practice of dentistry practice - the exercise of a profession; "the practice of the law"; "I took over his practice when he retired" , originally founded as a pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. practice, it now includes general dentistry, as well. The dentists and administrative staff, led by Dr. Dulany Hill, are active members of the Academy of Dental Group Leadership, an association committed to the development of group dental practice. Hill Dental also increases our presence in the Mid-Atlantic region. This region is one of the fastest growing and highest income areas of the country. Columbia is a highly successful planned community Noun 1. planned community - a residential district that is planned for a certain class of residents residential area, residential district, community - a district where people live; occupied primarily by private residences that has been developed over the past 30 years from which the surrounding areas of central Maryland are now also benefiting." Mr. Serrao added, "We now have an affiliated dental group in each of central Maryland, southern Maryland Southern Maryland in popular usage is composed of the state's southernmost counties on the "Western Shore." This region includes all of Calvert, Charles and St. Mary's counties and southern portions of Anne Arundel and Prince George's counties. and northern Virginia. American Dental Partners has committed substantial regional management resources in Herndon, Virginia, and we expect to leverage these resources for the benefit of all these affiliated dental groups." American Dental Partners, Inc. is one of the nation's leading dental practice management companies. Including this transaction, the Company is affiliated with 16 dental group practices and operates 124 dental facilities with more than 1,000 operatories located in Alabama, Arizona, Louisiana, Maryland, Minnesota, Oklahoma, Pennsylvania, Texas, Virginia and Wisconsin. Note: Some of the information in this press release contains "forward-looking statements" 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). |
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