November 28, 2007 - 12:47 PM EST
Dental Patient Care America Announces Significant 3rd Quarter Net Income
Dental Patient Care America (OTCBB: DPAT) announces a before tax unaudited net income of $230,428 for the three months ended September 30, 2007. This represents a significant improvement over the same 3rd quarter results ended September 30, 2006, which reported a net loss of $113,160.
About Dental Patient Care America:
Dental Patient Care America Inc. provides multiple services to independent dental practitioners. The company organizes dentists through a unique combination of acquiring practice assets and providing management services. The "Cooperative" model is used to network dental practices, allowing member dentists access to a variety of benefits which would remain unavailable to them individually. These benefits include profit sharing, health care, supply purchasing programs, laboratory services, practice financing and retirement programs.
The Cooperative model also allows DPCA to offer group and individual dental insurance through its affiliation with Dentist Direct, LLC. (www.usdentistdirect.com)
Traditionally a cottage industry, the market for dental services is very large, fragmented, and growing. Approximately $68 billion was spent in the United States on dental services in 2006. Annual dental expenditures should reach well over $80 billion in the coming years. Drivers for growth in dental expenditures include the aging of the population; increasing attention to dental health, wellness, and cosmetic appearance among the general population; and the increasing percentage of the population covered by some form of dental insurance.
According to the American Dental Association, of the approximately 180,000 dentists practicing in the United States, 88% presently practice alone or with one other dentist. There are few publicly traded companies, such as Birner Dental Management Services and American Dental Partners Inc., who actively acquire dental practice assets and provide management services. All combined publicly traded companies who have entered into such purchase or management agreements represent less than 2% of the total active practices nationwide. There is significant growth potential in expanding purchase and management agreements to the balance of this sizable industry.
Dental Patient Care America, or "Dental Cooperative," is headquartered in Salt Lake City, Utah. Current membership consists of over 100 independent dentists and nearly 500 dental providers participating on the Dentist Direct Dental panel.
Forward-Looking Statements
Certain of the matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. These and other risks are set forth in the reports filed by the Company with the Securities and Exchange Commission.
For Further Information Contact:
Andrew Eberhardt
Vice President
Dental Patient Care America Inc.
801-990-3311
Source: Marketwire (November 28, 2007 - 12:47 PM EST)
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