Union Dental Provides Shareholder Update
March 23 2010 - 6:30AM
Marketwired
Union Dental Holdings, Inc. (PINKSHEETS:
UDHI) - http://www.uniondental.com/ir -- a national provider of a
suite of dental services to union members and dentists has released
this update in an effort to provide its shareholders with greater
understanding of its business plan and its corporate strategy over
the coming year.
Union Dental consists of two primary businesses:
1. The Union Dental Network (the "Dental Network"). The Dental
Network was an idea conceived by our CEO more than 20 years ago.
The idea was simple: to provide union members with excellent dental
care by networking large numbers of dentists in various locations
all over the country. In order to execute on this idea, Union
Dental would need to convince both unions and dentists to
participate. Twenty years later, Union Dental has attracted the
likes of the Communications Workers of America (CWA), the
International Brotherhood of Electrical Workers (IBEW) the United
Association of Plumbers and Pipe Fitters (UA), National Federation
of Public and Private Employees (NFOPAPE), Fraternal Order of
Police (FOP), International Association of Fire Fighters (IAFF),
The Association of Flight Attendants - Communications Workers of
America (AFA-CWA) and most recently the American Federation for
Labor - Congress of Industrial Organizations. These groups comprise
some of the largest unions in America. In terms of membership, our
unions under contract number 120 of the 1,200 local CWA labor
unions. Of the 120 local labor unions and their 120,000 membership
together with their families has dental services purchasing power
in excess of $2,000,000,000 per year. CWA alone has approximately
3,200,000 insured offering much room for expansion.
As a result of the purchasing power of our union worker
customers, we have been able to build networks of dentists all over
America. Today, there are a total of 1900 dental providers that
participate in our Dental Network. Each dentist pays an annual fee
of up to $5,000 in order to control "areas of exclusivity" for a
particular group of union worker customers.
Union Dental believes that going forward, the Dental Network
will be successful and grow as long as it can execute on a four
prong strategy.
- Union Dental has expanded and moved into its new Coral Springs
facility where they have become a Total Service Provider (TSP) and
offers patients all aspects of dentistry including General
Dentistry, Periodontics, Pedodontics, Implants, Endodontics,
Orthodontics, Cosmetic Dentistry, Oral Surgery and Sedation
Dentistry.
- Union Dental will continue to cherish its relationships with
the unions in America and build additional relationships with
local, regional and national unions.
- The purchasing power of the Dental Network's union member
customers will make it easier for Union Dental to execute on the
second prong of the strategy -- to bring on additional
dentists.
- The last part of the strategy is to cross sell our dentists and
provide them with access to additional union worker customers by
buying additional "areas of exclusivity" and more unions to this
growing network of providers. This is to say that when we already
have an established network in a locale, and we add a new union for
that same locale, approximately 90% percent of the existing
dentists pay an additional fee to gain access to the new union
worker customer base. The ability to attract new dentists to the
Dental Network with relatively minimal marketing costs is very
powerful.
2. Union Dental has its own dental facility with 12 operatories
and a full service laboratory to make all prosthetics for the
dental industry. The Company has added local labor unions like the
Fraternal Order of Police and the National Federation of Public and
Private Employees, International Association of Fire Fighter and
the American Federation of Labor - Congress of Industrial
Organizations to use the Coral Springs facility. In this manner,
UDHI can compile insurance reimbursements records of insurance
companies providing these policies to union members. Once UDHI has
complete documentation of the reimbursements it will be able to
sign additional union contracts in other local areas and it will
offer these unions and services to all dentists in the local
network. The initial plan will start in Broward County then expand
to the other adjacent counties in Florida before "rolling out" the
plan nationwide in the next 24 months.
About Union Dental Holdings, Inc., Direct
Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned
subsidiaries. Direct Dental Services provides dentists with "areas
of exclusivity" to participate with various unions including the
Communications Workers of America (CWA) and the International
Brotherhood of Electrical Workers (IBEW), United Association of
Plumbers and Pipe Fitters (UA) and The Association of Flight
Attendants - Communications Workers of America (AFA-CWA). Direct
Dental Services 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. Union Dental
manages a dental practice in Coral Springs, Florida.
WEBSITE: www.afadental.com/ir www.uniondental.com/ir
www.aflciodental.com/ir
"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.
CONTACT INFORMATION: Dr. George D. Green President Email
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