COMPDENT ACQUIRES TEXAS-BASED DENTAL COMPANY; EXPANDS OPERATIONS TO 23 STATES.ATLANTA--(BUSINESS WIRE)--Jan. 8, 1996--CompDent Corp. (Nasdaq/NM:CPDN CPDN Climate Prediction Dot Net CPDN Certified Peritoneal Dialysis Nurse ), a leader in the managed dental care industry, today announced that it has acquired a referral fee-for-service fee-for-ser·vice adj. Charging a fee for each service performed. dental company based in Texas with approximately 420,000 members. With this acquisition, CompDent provides dental coverage for more than 1.8 million plan members in 23 states. Terms of the transaction were not disclosed. CompDent acquired Texas Dental Plans/Dental Plan International/Dental Plan Resources, based in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. . The company serves its members through a network of more than 5,000 dental providers located in 14 states. "We're extremely pleased to announce this acquisition," said David R. Klock, president and chief executive officer of CompDent. "It broadens our operations to 23 states from 16 states and increases our total membership to more than 1.8 million. Including Texas Dental Plans and its affiliated entities, we now have more than 500,000 members in Texas, making CompDent one of the largest managed care dental companies in the state. Texas Dental Plans also has a strong independent agent network which complements our existing network of nearly 9,000 independent agents. "As we look to the rest of 1996, our plans are to aggressively pursue profitable, established dental care companies which can increase our market coverage in a specific market or add new markets to our operations." CompDent Corp., headquartered in Atlanta, offers managed dental care plans as an alternative to traditional indemnity Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. dental insurance Dental insurance is insurance designed to pay the costs associated with dental care. Dental insurance pays a portion of the bills from dentists, hospitals, and other providers of dental services. . The Company's managed dental care plans are sold through a network of independent agents and a direct sales force. CONTACT: CompDent Corp., Atlanta Sharon S Sharon, city, United States Sharon (shâr`ən), city (1990 pop. 17,493), Mercer co., NW Pa., on the Shenango River, near the Ohio line; settled c.1800, inc. as a city 1920. . Graham, 404/998-8936 |
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