Business Services Industry

Dental Care Alliance Affiliates With Practices in Chicago Region and Florida

Business Wire, August 13, 1998

SARASOTA, Fla.--(BUSINESS WIRE)--August 13, 1998--

Company Positioned For Growth in New Area

Dental Care Alliance, Inc. (Nasdaq/NM:DENT) today announced the addition of four dental practices, bringing the total number of practices under management to 53. Three of the practices are located in northeast Indiana, just outside of Chicago and the fourth practice is in Gainesville, Florida.

The four practices were purchased for $1.2 million in cash and notes, and represent combined annual revenue of $1.9 million. Dr. Wendell Willis, for many years a faculty member of the University of Florida School of Dentistry and actively involved in organized dentistry has been named the dental director for the greater Gainesville area. The Indiana practices represent Dental Care Alliance's entry into a new market, and Dr. John Wadas will serve as the dental director for this region of the country.

Dental Care Alliance's chief executive officer, Dr. Steven Matzkin, commenting on the acquisitions, said, "I am pleased that our philosophy of affiliating with high quality, high profile dentists in the community continues to serve as a basis to attract esteemed professionals such as Dr. Willis and Dr. Wadas. They are most welcome additions to Dental Care Alliance." He added, "We also have been interested in expanding into the Chicago area and these Indiana practices, represent an excellent opportunity to leverage our expertise of adding value to dental practices while providing the highest quality dental care.

"Dental Care Alliance has a lot to offer dentists and their patients, "said Dr. Wadas. "The company's model for growth is very attractive to dentists, particularly as the company provides a management environment that allows its dental practitioners to keep their skills honed, while taking the burden of managing the business of a practice off their shoulders. I am very pleased to be joining this organization."

Dental Care Alliance is a dental practice management company providing management and licensing services to dental practices in Florida, Georgia, Michigan and Indiana. The company currently manages 53 dental practices, of which 33 are located in Florida, nine in Michigan, eight in Georgia and three in Indiana. The company also provides licensing to three additional practices in Florida.

This news release contains forward-looking statement within the meaning of section 27A of the Securities Act of 1933 and Section 21B of the Securities and Exchange Act of 1934. The company's actual results could differ materially from those set forth in the forward-looking statements. Certain factors that might cause such a difference include, among others, the pace of development and acquisition activity, the dependence on management agreements, the PA's and affiliated dentists, the reimbursement rates for dental services, and other risks detailed in the company's Securities and Exchange Commission filings.

   CONTACT: David P. Nichols
             Chief Financial Officer
             Dental Care Alliance
             (941) 955-3150
                  or
             Investor Relations Contacts:
             LIPPERT/HEILSHORN & ASSOCIATES
             John Heilshorn (john@lhai.com)
             Kim Sutton Golodetz  (kim@lhai.com)
             (212) 838-3777
             Bruce Voss (bruce@lhai.com)
             (310) 575-4848

COPYRIGHT 1998 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
 

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