Dental Services of America Inc. announces proposed acquisition of dental practice in Fort Lauderdale.MIAMI--(BUSINESS WIRE)--April 21, 1997--Dental Services of America Inc. whose shares are traded under the 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 symbol "FLOS FLOS Fractional Lower-Order Statistics ", "FLOSW" and "FLOSZ", and whose business consists of 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 and dental plans, announced that it has entered into a letter of intent to acquire the assets of the dental practice of Dr. Lee Brushingham in 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. , Fla. The company expects that this acquisition will add more than $500,000 in annual revenue to the company. Stanley G. Greenstein, the company's practice management CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. indicated that this acquisition is another step in the company's goal of acquiring experienced, quality offices generating above average income per location. -- The company also announced the election of Beatrice Horton Crapp to its board of directors. Ms. Crapp is presently president of Community Marketing and Development Inc., a state certified minority owned marketing and development company holding several state contracts. Ms. Crapp has had extended experience in the banking and mortgage field. -- The Company is pleased to announce that the Department of Insurance of the State of Florida has approved the application of the company's subsidiary, Dental Plans of Fla. Inc., to be a regulated Dental Service Plan. -- In addition, the company is continuing to receive funds from the exercise of Class A common stock Purchase Warrants, which were called for redemption effective as of the close of business May 1, 1997, pursuant to a newly issued prospectus, dated March 26, 1997. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under 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: Statements contained in this news release that are not historical facts are forward looking and are based on management's estimates, assumptions and projections. Actual results may vary materially. Further factors involving financial results may be found in documents filed with the Securities and Exchange Commission. CONTACT: Dental Practice Administrators, Miami Stanley G. Greenstein, 305/895-0716 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion