Castle Dental Centers Acquires Five Dental Centers in Florida.HOUSTON--(BUSINESS WIRE)--July 16, 1998--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 fastest-growing dental management companies in the U.S., today announced the acquisition of five dental centers in Florida with annual revenues of approximately $3.4 million. The acquisitions included three dental centers in the Sarasota area, expanding Castle's network on the west coast of Florida to 14 offices, and two dental centers in North Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. and Delray Beach Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , marking Castle's initial entry into the rapidly growing east coast Florida market. The five dental centers were owned and operated by Dr. Jared Woolf. Jack H. Castle, Jr., chief executive officer of Castle Dental Centers, stated, "We're extremely pleased to announce the acquisition of Dr. Woolf's practices. These centers meet our strategic goals to fill in existing markets and to expand to the east coast of Florida. The Sarasota dental centers represent an extension of our Tampa/Clearwater network and are included in the Tampa television broadcast market which will allow us to leverage our advertising and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. in that market. The Fort Lauderdale area acquisitions represent our initial entry into one of the most densely populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. regions of the country, and we see significant opportunities for growth in that dynamic market. "Including these acquisitions, we have acquired 17 dental centers with more than $22 million in patient revenues this year. In addition, we have opened five new centers in existing markets. We will continue to pursue attractive dental practices 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" that fill in existing markets or provide a core platform for expansion into a new market." 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 in the U.S. Including the recent acquisitions, Castle manages 63 dental centers with 165 affiliated dentists in Texas, Florida, Tennessee and California with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. patient revenues of approximately $85 million. Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Among the key factors that may have a direct bearing on the operating results, performance or condition of the Company are fluctuations in the economy, the degree and nature of competition and the demand for the Company's services, changes in laws and regulations affecting the Company's business, the Company's inability at any time to complete acquisitions and integrate the operations of acquired businesses, and numerous other factors discussed in Castle Dental's filings with the Securities and Exchange Commission.
CONTACT: Castle Dental Centers Inc., Houston
John M. Slack, 713/513-1400, ext. 280
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