DentlCare Agrees To Acquire Leading Chicago Dental Care Provider With 1997 Projected Revenues Of $1,000,000.TULSA, OK--(BUSINESS WIRE)--Nov. 6, 1996--DentlCare Management, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: DCMI DCMI Dublin Core Metadata Initiative (Online Computer Library Center) DCMI Disclosure of Classified Military Information ), and its affiliated professional corporation announced the execution of a letter of intent to acquire the Chicago Denture denture, artificial replacement for natural teeth and surrounding tissue. Dentures are classified as partial or complete. The former are removable and maintained by clasps, or are fixed bridges with crowns cemented over adjacent teeth or over spikes embedded in the Clinic of Chicago, IL. Terms of the acquisition were not disclosed. Established in 1946, the Chicago Denture Clinic ("CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation ") provides general dental services with emphasis on prosthetics. The CDC acquisition will provide an additional 3,000 square foot dental facility as well as an increased staff of dentists and technicians to DCMI's growing network. "This acquisition will help accelerate the growth of our Midwest region. In addition to increasing our practice management revenues, it will provide our existing operations with a cost effective in-house lab to make prosthetics currently purchased from outside sources," said president and chief executive officer, John C. Edwards John Cummins Edwards (June 24, 1804 - October 14, 1888) was the Governor of Missouri from 1844 to 1848. He belonged to the Democratic Party. He was born in Frankfort, Kentucky and died in Stockton, California. . "During their fifty years of operation, CDC has developed and utilized a profitable line of proprietary products which should further enhance DCMI's leading position in the dental care community," Edwards said. CDC reported $500,000 in gross sales for 1995, and expects $650,000 in revenues for 1996, and in excess of $1 million for 1997. DCMI is a dental practice management company which has developed models for the creation and management of high quality - high volume dental practices. With this acquisition, it will manage 14 dental care operations providing fee-for-service as well as managed care dental services within Oklahoma, Nevada and Illinois. CONTACT: DENTLCARE MANAGEMENT INC. J. Kenneth Hurst, CFO See Chief Financial Officer. (918) 254-6600 or Porter, LeVay & Rose, Inc. David Mandy 212/564-4700 |
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