Union Dental Signs Agreement With CWA West Columbia to Build Dental Network; Network to Reach More Than 2,500 Insured
October 05 2005 - 9:43AM
Business Wire
Union Dental Holdings, Inc. (OTCBB:UDHI), the leading provider of
network-based dental services for union members, announced today
that it has signed an agreement with the Communications Workers of
America (CWA) Local 3706 in West Columbia, SC, to build a dental
network for its members. George D. Green, president and CEO of
Union Dental said, "This is the third agreement we have signed with
South Carolina CWA chapters in recent weeks. We expect to enlist
three to four dentists and three specialists in the West Columbia
network." West Columbia has more than 600 active members and about
2,500 insured. Member benefits will provide dental services worth
$1,500 annually per insured. There are about 8,500 insured CWA
members in South Carolina. Nationwide, CWA has more than 750,000
members and approximately 3.2 million insured. Green continued,
"Our company is growing as more CWA chapters sign on and additional
dentists and oral surgeons pay us to participate in our exclusive
CWA territory arrangement. Our network could provide up to $12
million in additional income for the dentists in our South Carolina
network annually, and CWA chapters nationwide are beginning to
realize these benefits." The agreement with Local 3706 was signed
following Green's presentation at the Communication Workers of
America quarterly regional meeting for the South Carolina
presidential council on Aug. 17 in Columbia, SC, where he was the
featured speaker. CWA union presidents from the entire state were
in attendance. About Union Dental Union Dental provides a unique
way for unions to provide dental care to its members. The company
is currently serving the Communications Workers of America (CWA)
and International Brotherhood of Electrical Workers (IBEW). Union
Dental receives annual management fees from dentists who agree to
practice in areas of exclusivity where CWA and IBEW members use the
dentists' services. CWA and IBEW local unions agree to provide a
dental network using the members' existing insurance policies.
Dentists in the dental network provide services for union members
as well as existing patients. 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. Union
Dental also owns and operates a 17-year-old profitable dental
practice. For more information, visit http://www.uniondental.com.
An investment profile about Union Dental Holdings, Inc. may be
found at http://www.americanmicrocaps.com/udhi/profile.pdf. An
online investor relations kit containing Union Dental press
releases, SEC filings, current Level II price quotes, interactive
Java stock charts and other useful information for investors can be
found at http://www.hawkassociates.com and
http://www.americanmicrocaps.com. Investors may contact Frank
Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888,
e-mail: info@hawkassociates.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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