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Union Dental Holdings, Inc., (OTCBB:UDHI) a Company that
operates and manages a network of Dentists throughout the United
States who provide services to union members in exchange for an annual
management fee, is pleased to report a significant increase in
revenues for both the 3-months and 9-months ended Sept. 30, 2005.
For the 3-months ended Sept. 30, 2005, Union Dental reported
revenues of $499,035, which represents an increase of 23% over the
same period last year. In addition, for the 9-months ended Sept. 30,
2005, the Company reported revenues of $1,623,596, which represents an
increase of 48% over the same period last year.
Dr. George D. Green, President and CEO of Union Dental, stated, "I
am very pleased with the revenue growth experienced in both our third
quarter and the 9 months ended Sept. 30th, 2005. This revenue growth
is a clear indication that we are executing our business plan by
growing the Company both organically and through acquisition." Dr.
Green added, "Part of this growth in revenue is from the asset
acquisition of Dental Visions which gave us an additional facility to
better service and expand our on-going dental practice with CWA
patients."
In the Consolidated Statement of earnings for the three months and
nine months ended September 30, 2005, the Company reported a loss of
$355,384 and $206,968 respectively.
Dr. Green commented, "The loss is attributed to some one time
costs associated with the Dental Visions acquisition and some other
one time costs associated with the issuance of our convertible
debentures and $5.0 million Equity Line of Credit funding which took
place during the last quarter." Dr. Green added, "The funding in
question will play a large part in helping us to prepare the Company
for expansion on a national level. We aim to begin with the
communications industry and then plan to propose our business model to
other unions on a national basis."
UDHI has been providing a Dental Network for the Communications
Workers of America (CWA) Local Unions in Florida since UDHI's
inception and has expanded the concept and Dental Network throughout
District 3 which along with Florida includes Georgia, Kentucky,
Louisiana, North Carolina, South Carolina and Tennessee as well as
throughout southern United States into California.
The Communications Workers of America union members represent
workers who are employed by BellSouth (NYSE:BLS); Qwest (NYSE:Q); AT&T
(NYSE:T); Lucent (NYSE:LU); General Electric (NYSE:GE); Cingular;
Verizon (NYSE:VZ); SBC Communications (NYSE:SBC), Avaya (NYSE:AV) 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 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
For all future Union Dental investor relations needs, investors
are asked to visit the Union Dental IR Hub at
http://www.agoracom.com/IR/UnionDental where they can post questions
and receive answers within the same day, or simply review questions
and answers posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to UDHI@agoracom.com
where they can also request addition to the investor e-mail list to
receive all future press releases and updates in real time.
About AGORA Investor Relations Corp., http://www.agoracom.com
AGORA Investor Relations Corp. (AGORA) is North America's leading
outsourced investor relations firm for small-cap companies. AGORA's
exclusive IR HUB delivers two-way investor relations and
communications that provides 100% transparency, accessibility,
equality and near real-time communications for all shareholders and
the investment community. The digital delivery of investor relations
also provides public companies with savings over traditional services
ranging from 50-60%.
AGORA has specialized in small-cap investor relations since 1997
and is the exclusive provider of all content to the AOL Small Cap
Channel.