Xcelerate (QB) (USOTC:XCRT)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Xcelerate (QB) Charts. Click Here for more Xcelerate (QB) Charts.](/p.php?pid=staticchart&s=NO%5EXCRT&p=8&t=15)
Union Dental Holdings, Inc. (OTCBB:UDHI) -
http://www.uniondental.com - a provider of multi-state dental services
for union members, is pleased to announce the company recently
enrolled dentists in 68 new locations in California and Nevada
expanding their total number of providers from 450 to over 1,100.
George D. Green, president and CEO of Union Dental, said, "The
addition of these dental providers is another milestone in our
company's history because we have more than doubled our size in the
past two months. We intend to build a nationwide network of dentists
to service the dental needs of the Communications Workers of America
(CWA)."
Each dentist on the UDHI network pays an Annual Management Fee
which can be as much as $6,000 per office in exchange for an "Area of
Exclusivity" where they offer their services to the members of labor
unions. In these areas, UDHI has an agreement with local chapters of
CWA to exclusively provide a dental network for their members to use.
Dr. Green further stated: "Over the past few months we have
concentrated on strengthening our dental network in several states to
better service CWA union members in preparation for our expansion into
new states and toward a nationwide level. Once we establish this
nationwide network, we will then offer this network to other labor
unions such as The Teamsters (IBT) and Transportation Workers Union
(TWU)."
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.