American Dental Partners Announces Affiliation with Premier Dental Partners
Business Editors/Health Editors
WAKEFIELD, Mass.--(BUSINESS WIRE)--Feb. 3, 2005--American Dental Partners, Inc., (NASDAQ: ADPI) announced today that the Company completed an affiliation with Premier Dental Partners ("Premier"). The Company acquired certain non-clinical assets and entered into a service agreement with the dental group. Founded in 1993, Premier is a group dental practice with 15 dentists and five facilities located in the greater St. Louis market generating approximately $9 million in patient revenue annually.
"We have known Premier Dental Partners for many years and admire the vision and leadership of Premier's President Dr. Sheldon Cohen. Premier is an exceptional dental group practice with a strong clinical reputation and a commitment to high quality patient care and service. Premier typifies the high quality dental group practices with which American Dental Partners seeks to affiliate and St. Louis is an attractive market to be in." said Gregory A. Serrao, Chief Executive Officer of American Dental Partners. "We share in Dr. Cohen's commitment to build Premier Dental Partners into the leading dental group practice in Missouri." Mr. Serrao continued.
Dr. Cohen stated, "The affiliation with American Dental Partners marks an exciting new chapter in Premier Dental Partners' ongoing development and is an extremely positive outcome for our dentists and team members. I have known American Dental Partners for almost ten years and have witnessed first-hand how they have added value to some of the best dental groups in the country. We are excited to have access to their vast resources. "
American Dental Partners is one of the nation's leading business partners to dental group practices. The Company is affiliated with 20 dental groups which have 182 dental facilities with approximately 1,626 operatories located in 18 states.
Note: Some of the information in this press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project,'' and similar expressions, among others, identify forward-looking statements. Forward-looking statements speak only as of the date the statement was made. Such forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied. Certain factors that might cause such a difference include, among others, the Company's risks associated with overall or regional economic conditions, contracts its affiliated dental group practices have with third party payors and the impact of any terminations or potential terminations of such contracts, the cost of and access to capital, the fluctuations in labor markets, the Company's acquisition and affiliation strategy, management of rapid growth, dependence upon affiliated dental group practices, dependence upon service agreements and government regulation of the dental industry. Additional risks, uncertainties and other factors are set forth in the "Risk Factors" section of the Company's Registration Statement on Form S-4 (File No. 333-56941).
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CONTACT: American Dental Partners, Inc. Gregory A. Serrao, 781-224-0880 Chairman, President and Chief Executive Officer or Breht T. Feigh, 781-224-0880 Executive Vice President, Chief Financial Officer and Treasurer
KEYWORD: MASSACHUSETTS INDUSTRY KEYWORD: MEDICAL SOURCE: American Dental Partners, Inc.
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