Union Dental Adds Thirty New Locations to Its Network of Service Providers
CORAL SPRINGS, Fla., May 25 /PRNewswire-FirstCall/ -- Union Dental Holdings, Inc. (OTC Bulletin Board:UDHI message board, news, dd, quote) - http://www.uniondental.com/ir - a provider of multi-state dental services for union members, announced today it has added 30 new locations and over 100 providers in the New York metropolitan area to its growing network of dental providers. The locations and providers have been added to Union Dental's network as a result of the Company's recently announced agreement with the Communications Workers of America Local 1101 in New York City. Local 1101 is one of the largest CWA locals in the United States. CWA 1101 has over 50,000 insured in the Greater New York City area. Many of these members are employed by such companies as Cingular and Verizon.
Dr. George Green, President and CEO of Union Dental, commented, 'I am pleased that we have been able to add these locations in such a short period of time since our announcement of the agreement with Local 1101 only a month ago. I anticipate adding between 1,000 and 2,000 providers to service the needs of these workers in the CWA District 1 areas of New Jersey, Connecticut, Vermont, Rhode Island, New Hampshire, Massachusetts and the New York metropolitan area where we will concentrate in Long Island and the boroughs of Queens, Brooklyn, the Bronx and Staten Island. Securing 30 new locations and over 100 service providers in a short period of time is an excellent start toward meeting our goal of fully developing our network of service providers for Local 1101.'
Dr. Green further stated, 'Since a portion of our revenues are derived from marketing the services of these providers to the CWA insured, UDHI's revenues should increase as we continue to expand the dental network.'
The Communications Workers of America union members represent workers who are employed by BellSouth, Qwest, AT&T, Lucent, General Electric, Verizon, SBC Communications, Avaya 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 of Union Dental Holdings, Inc. 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. Website: http://www.uniondental.com
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