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XCRT Xcelerate Inc (QB)

0.025
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Xcelerate Inc (QB) USOTC:XCRT OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.025 0.024 0.025 0.025 0.025 0.025 40,308 13:14:58

Union Dental Holdings Signs Doctors in 68 New Dental Locations in California & Nevada

04/01/2006 9:05pm

Business Wire


Xcelerate (QB) (USOTC:XCRT)
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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.

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