Castle Dental Centers, Inc. To Acquire California Dental Practice Management Company.HOUSTON--(BUSINESS WIRE)--Feb. 2, 1998-- Marks Entry Into High Growth Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Market Castle Dental Centers, Inc. (Nasdaq/NM: CASL CASL Compact Application Solution Language (Feras Information Technologies) CASL Capital Area Soccer League (Raleigh, NC) CASL Chartered Advisor for Senior Living CASL Crosstalk Application Scripting Language ), one of the largest dental management companies in the U.S., today announced that it has entered into a definitive agreement to acquire 80% of Dental Consulting Services L.L.C. (DCS (1) See also DSC. (2) Digital Cross-connect System) A network switching and grooming device used by telecom carriers. See digital cross-connect. ), a California-based 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" management company. DCS, which had patient revenues of approximately $11 million in 1997, currently manages five dental offices in the Los Angeles metropolitan area and is affiliated with 27 dentists. The acquisition, which will include a combination of cash, notes and stock, is expected to be additive to earnings in 1998. The acquisition, scheduled to be completed in February 1998, is subject to customary approvals by Castle's lenders. Terms of the transaction were not disclosed. Jack H. Castle, Jr., chairman and chief executive officer of Castle Dental Centers, commented, "We are pleased to announce our entry into the dynamic California market with the acquisition of Dental Consulting Services, a very successful, high-quality dental group. 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, is one of the largest and fastest growing markets in the U.S. today, and DCS provides an excellent platform to expand the Castle brand. "This will be our fourth acquisition since our initial public offering this past fall. Our goal was to enter one new core market in 1998; and, with DCS, we have accomplished that goal. We continue to pursue additional acquisition opportunities and are developing new centers in our existing markets in line with our <254>fill-in<254> first strategy." Castle Dental Centers, Inc. develops, manages and operates integrated dental networks through contractual affiliations with general, orthodontic orthodontic (ôr´th  dän´tik),adj and multi-specialty dental practices ating results, performance or condition of the Company are the Company's inability at any time to complete acquisitions and integrate the operations of acquired businesses, the degree and nature of competition and the demand for the Com URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com |
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