Union Dental Selected to Provide Dental Network for United Association of Plumbers and Pipefitters; Union Dental Takes a Signifi
14 February 2006 - 8:05AM
Business Wire
Union Dental Holdings, Inc. (OTCBB:UDHI) -- a provider of
multi-state dental services for union members, is pleased to
announce that following a presentation by Dr. George D. Green,
UDHI's President and CEO, the UA Local 295 has voted to utilize the
services of UDHI to build a network of dental providers to be used
by its members. The exclusive agreement will call for Union Dental
to build and maintain a Dental Network for use by the United
Association (UA) members. As a part of the exclusive nature of the
agreement, Union Dental will be the only Dental Network the UA will
endorse for use by its members. The UA represents approximately
300,000 members across North America working in the plumbing,
pipefitting and trades industries. The UA has members in both the
United States and Canada and stands out among the American unions
in the AFL-CIO. William P. Hite, President of UA in the USA and
Canada stated, "United Association is very proud of our membership
and our work. Our motto, 'We Do It Right the First Time,' shows our
integrity and determination to not only do our best, but with
expertise." Mr. Hite continued to say, "We strive to improve our
members' skills and excellence through our robust training
programs." Dr. George D. Green, President and C.E.O. of Union
Dental Holdings commented: "UA Local 295 is a self insured union
local and as such is more discerning about whom they pick to supply
their dental network. I will be making a presentation at their next
state President's meeting to propose a state wide agreement for UA.
Their selection of UDC sends a message to all other UA locals
nationwide. We are pleased to enter this relationship with Local
295 which will provide essential services to their membership and a
strong economic backbone for our company for years to come." Dr.
Green continued to say, "The agreement with the United Association
of Plumbers and Pipefitters will bring Union Dental a step closer
to establishing our ultimate goal, where we intend to build a
nation-wide network of dentists to service the dental needs of
union members." Dr. George D. Green Goes "Beyond the Press Release"
Please join Dr. Green as he goes "Beyond the Press Release" to
provide shareholders with an audio address that further discusses
and explains the strategic importance of the agreement with the
United Association of Plumbers and Pipefitters (UA Local 295). The
address will be available on the Union Dental Investor Relations
Hub on or before February 22, 2006. This press release is available
on the company's official online Investor Relations HUB for all
investor questions, answers and discussion within a monitored
environment. Alternatively, investors are able to e-mail all
questions and correspondence to where they can also request
addition to the investor e-mail list to receive all future press
releases and updates in real time. About UA Local 295 Local Union
295 located in Daytona Beach, Florida has jurisdiction covering all
of Flagler, Volusia and Brevard counties, including Cape Canaveral
Air Force Station, Patrick Air Force Base, Kennedy Space Flight
Center and the Malabar Radar Site. Local 295 boasts having been
instrumental in getting our space program "off the ground" in that
they have helped build many of the launch pads in use at the
Kennedy Space Flight Center since its inception. 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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