MIAMI, Feb. 28, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Union Dental Holdings, Inc. (OTCBB:UDHI), Aastrom Biosciences, Inc. (NASDAQ:ASTM), Sirius Satellite Radio (NASDAQ:SIRI) and Cisco Systems, Inc. (NASDAQ:CSCO).
Union Dental Holdings, Inc. (OTCBB:UDHI) issued a press release that its wholly owned subsidiary Union Dental Corp. (UDC) has signed a Letter of Intent to acquire Dental VisionS in a stock purchase agreement. VisionS is a dental practice also located in Coral Springs and has 700 active patients. Before the news was released, the company's stock closed at sixty four cents a share.
The press release stated that Dr. Dora Vilk-Shapiro, owner of Dental VisionS, will continue to practice dentistry under the new agreement. Plans are being formulated to have extended hours for the Communications Workers of America union members who are employed by Bell South, Qwest, AT&T, Lucent, General Electric, Verizon, SBC Communications, and Avaya.
Dr. Green, President and C.E.O. of UDHI, commented on the acquisition: "The merging of Dr. Shapiro's Dental VisionS office with George D. Green, DDS PA, into UDHI will provide the services of three practitioners of various specialties for the benefit of our CWA, IBEW, and IUE-CWA members. The acquisition of this practice falls within our business plan to provide service to these unions where demand would dictate. Because of our knowledge of the unions need for placement of these offices, this, and all other practice acquisitions will always be an automatic increase to UDC's economic strength operating with full patient loads upon opening. Several other facility openings are planned over the next few years."
CWA has a varied member base throughout the United States representing employees who work for not only the telephone companies but 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. provide dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America ("CWA") Dental Networks. DDS/UDC has contracts with CWA 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 manages the 17 year profitable dental practice. DDS and UDC are wholly owned subsidiaries of Union Dental Holdings, Inc.
Other Stocks of interest Friday were: Aastrom Biosciences, Inc. (NASDAQ:ASTM) down 4.9% on 7.6 million shares traded, Sirius Satellite Radio (NASDAQ:SIRI) down 7.7% on 91.2 million shares traded and Cisco Systems, Inc. (NASDAQ:CSCO) up 0.1% on 38.1 million shares traded.
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