American Dental Partners Affiliates With OK Dental.WAKEFIELD, Mass.--(BW HealthWire)--March 18, 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 Paul E. Plowman, DDS (1) (Digital Data Storage) See DAT. (2) (Data Dictionary System) See QuickBuild and OpenDDS. (3) (Dataphone Digital S , MSD (MicroSoft Diagnostics) A utility that accompanied Windows 3.1 and DOS 6 that reported on the internal configuration of the PC. A variety of information on disks, video, drivers, IRQs and port addresses was provided. , Inc. d/b/a OK Dental located in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm and Tulsa, Oklahoma Tulsa is the second-largest city in the state of Oklahoma and 45th-largest in the United States. With an estimated population of 382,872 in 2006,[1] it is the principal municipality of the Tulsa Metropolitan Statistical Area, a region of 897,752 residents projected to . The Company acquired certain non-clinical assets and entered into a 40-year service agreement with the dental group. OK Dental, a group 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" with 12 general dentists, 8 dental facilities and 68 operatories, generated $5.2 million in practice revenue in 1998. "OK Dental is a quality, growth-oriented dental group and we are pleased to have them join our team of affiliates," said Gregory Serrao, Chief Executive Officer of American Dental Partners. "For over 20 years, OK Dental has served patients in Oklahoma where it is the largest group practice in the area. The leadership of OK Dental is committed to group dental practice. Dr. Plowman and others at OK Dental have been long-standing and active members of the American Academy The American Academy in Berlin is a non-partisan academic institution in Berlin. It was founded in September 1994 by a group of prominent Americans and Germans, among them Richard Holbrooke, Henry Kissinger, Richard von Weizsäcker, Fritz Stern and Otto Graf Lambsdorff and opened in of Dental Group Practice." He also added, "This affiliation marks our entry into the state of Oklahoma. The metropolitan statistical areas of Oklahoma City and Tulsa have populations of approximately 959,000 and 709,000, respectively and represent attractive markets for future growth. We plan to build upon the success of OK Dental by bringing business and financial resources to their practice." Since January 1, 1999, American Dental Partners has completed five affiliations with total annual practice revenue of approximately $15 million in 1998. These five affiliations include two affiliations in new states (Alabama and Oklahoma) and three affiliations that increase the market penetration of existing affiliates in Arizona, Pennsylvania and Wisconsin. American Dental Partners, Inc. is one of the nation's leading dental practice management companies. Including this transaction, the Company is affiliated with 15 dental group practices which include 122 dental facilities with 1,012 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) |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion