American Dental Partners Announces Affiliation With Advanced Dental Specialists
10 März 2008 - 10:10PM
Marketwired
WAKEFIELD, MA announced today that the Wisconsin Dental Group,
S.C., the affiliated practice at Forward Dental, has formed a new
affiliated dental group, Advanced Dental Specialists ("ADS").
The Company entered into a service agreement with Advanced
Dental Specialists, L.L.C., and Wisconsin Dental Group, S.C.
contributed its oral surgery, periodontic, and endodontic practices
to ADS. Concurrent with this transaction, the Company also
completed an affiliation with Christopher J. Meyers, D.D.S., S.C.
and Margita U. Meyers, D.M.D., L.L.C., acquiring certain
non-clinical assets of the two practices. The Meyers practices
generate approximately $2 million of patient revenue annually.
Christopher J. Meyers, D.D.S. is an oral surgeon and has joined
ADS. Margita U. Meyers, D.M.D. is a pediatric dentist and has
joined Forward Dental. As a result of these transactions, ADS will
have one oral surgeon, three endodontists and three periodontists,
and Forward Dental will have five pediatric dentists.
"These transactions represent a strategic move for American
Dental Partners, Forward Dental and Drs. Meyers. We have found it
beneficial for our affiliated dental groups to develop separate
specialty practices. This separation creates capacity in the
general practices for additional general dentistry care, and the
establishment of specialty practices allows for the creation of a
separate identity with practices designed to meet the unique
requirements of specialty care," said Gregory A. Serrao, Chief
Executive Officer of American Dental Partners, Inc. "We are pleased
Drs. Meyers, well respected doctors in Milwaukee, have chosen to
participate in this strategic move," Mr. Serrao concluded.
American Dental Partners is one of the nation's leading business
partners to dental group practices. The Company is affiliated with
27 dental groups which have 242 dental facilities with
approximately 2,104 operatories located in 18 states.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: With the exception of the historical
information contained in this news release, the matters described
herein contain "forward-looking" statements that involve risk and
uncertainties that may individually or collectively impact the
matters herein described, including but not limited to the
possibility that we may not realize the benefits expected from our
acquisition and affiliation strategy, economic, regulatory and/or
other factors outside the control of the Company, which are
detailed from time to time in the "Risk Factors" section of the
Company's SEC reports, including the annual report on Form 10-K for
the year ended December 31, 2007.
Contacts: Gregory A. Serrao Chairman, President and Chief
Executive Officer 781-224-880 Breht T. Feigh Executive Vice
President, Chief Financial Officer and Treasurer 781-224-0880
American Dental Partners, Inc. 401 Edgewater Place, Suite 430
Wakefield, MA 01880 Phone: 781/224-0880 Fax: 781/224-4216
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