CORAL SPRINGS, Fla., July 20 /PRNewswire-FirstCall/ -- Union Dental Holdings, Inc. - http://www.uniondental.com/ir - a provider of multi-state dental services for union members, announced today it will open its dental lab for business in the last quarter of 2006.
Dr. George Green, President and CEO of Union Dental, commented, "The time has come where the cost to outsource our dental prosthetics far exceeds what we can produce these services for in-house. While our outsource costs approach a quarter million dollars per year our business plan calls for reducing these costs by up to 40 percent each and every year. The cost savings will be even greater if our facility provides similar services to over 20 CWA dental providers in the South Florida UDHI network. Many of our network dentists have expressed interest in using our dental lab when operational. This should further improve Company revenues."
Dr. Green further stated, "We have already leased the space needed for the lab which is adjacent to our offices. Plans require a minimal outlay for construction improvements over 90-120 days with the first product to be delivered for service at the end of that time. Favorable terms have been signed to lease this space."
The Communications Workers of America union members represent workers who are employed by BellSouth, Qwest, AT&T, Lucent, General Electric, Verizon, SBC Communications, Avaya and many other varied occupational fields such as public maintenance, food service, flight attendants and law enforcement.
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries of Union Dental Holdings, Inc. Direct Dental Services provides 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. 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 Corp. manages a dental practice in Coral Springs, Florida. 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.
CONTACT INFORMATION: info@uniondentalcorp.com
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Union Dental Holdings, Inc.CONTACT: Union Dental Holdings, info@uniondentalcorp.com
