Union Dental Holdings Signs Doctors in 68 New Dental Locations in California & Nevada
January 04 2006 - 3:05PM
Business Wire
Union Dental Holdings, Inc. (OTCBB:UDHI) -
http://www.uniondental.com - a provider of multi-state dental
services for union members, is pleased to announce the company
recently enrolled dentists in 68 new locations in California and
Nevada expanding their total number of providers from 450 to over
1,100. George D. Green, president and CEO of Union Dental, said,
"The addition of these dental providers is another milestone in our
company's history because we have more than doubled our size in the
past two months. We intend to build a nationwide network of
dentists to service the dental needs of the Communications Workers
of America (CWA)." Each dentist on the UDHI network pays an Annual
Management Fee which can be as much as $6,000 per office in
exchange for an "Area of Exclusivity" where they offer their
services to the members of labor unions. In these areas, UDHI has
an agreement with local chapters of CWA to exclusively provide a
dental network for their members to use. Dr. Green further stated:
"Over the past few months we have concentrated on strengthening our
dental network in several states to better service CWA union
members in preparation for our expansion into new states and toward
a nationwide level. Once we establish this nationwide network, we
will then offer this network to other labor unions such as The
Teamsters (IBT) and Transportation Workers Union (TWU)." About
Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union
Dental Corp. Direct Dental Services and Union Dental Corp. are
wholly owned subsidiaries and provide dentists with "areas of
exclusivity" to participate with various unions including the
Communications Workers of America ("CWA") and International
Brotherhood of Electrical Workers (IBEW) Dental Networks. Union
Dental Corp. receives annual management fees from the dentists in
exchange for practicing in these "areas of exclusivity" where CWA
and IBEW members use the dentists' services. DDS/UDC has contracts
with CWA & IBEW Local Unions to provide a dental network
utilizing the members existing insurance policy. The dentists in
the Dental Network provide services in the areas for union members,
as well as existing patients in exchange for an annual management
fee. The network of dentists accepts payment from union insurance
plans for services rendered as payment in full, with certain
procedures requiring a small out-of-pocket co-payment from the
union member patient. In addition, Union Dental Corp. acquired the
assets of an existing dental practice (excluding the patient list)
and successfully integrated those assets into its existing practice
which has been servicing patients for 17 years in Coral Springs,
Florida. UDC and DDS are wholly owned subsidiaries of Union Dental
Holdings, Inc. Website: http://www.uniondental.com "Safe-Harbor"
Statement: Under the Private Securities Litigation Reform Act of
1995. This press release may contain forward-looking information
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), including all statements
that are not statements of historical fact regarding the intent,
belief or current expectations of the Company, its directors or its
officers with respect to, among other things: (i) the Company's
financing plans; (ii) trends affecting the Company's financial
condition or results of operations; (iii) the Company's growth
strategy and operating strategy; and (iv) the declaration and
payment of dividends. The words "may," "would," "will," "expect,"
"estimate," "anticipate," "believe," "intend," and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
Company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors.
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