Expands Presence in Michigan
ST. PAUL, Minn., July 27 /PRNewswire/ -- Patterson Dental Company
(Nasdaq: PDCO) today announced it has acquired the assets of Dentaplex, Inc.,
a full-service dental products distributor, based in Livonia, Mich., with
sales of $2 million for the fiscal year ended December 31, 1997. Terms of the
transaction were not disclosed.
"In keeping with a company strategy to reinvest earnings in complementary
companies to expand operations, build market share and increase shareholder
value, Patterson continues to capitalize on the opportunities a consolidating
industry offers. The acquisition of Dentaplex fortifies our market position
in Detroit, Mich., strengthening our customer base and sales network there,"
said Peter Frechette, chairman, president and chief executive officer at
Patterson.
Patterson Dental Company is one of the largest distributors of dental
products in North America. The company supplies more than 82,500 products to
dentists, dental laboratories, institutions, physicians and other heath care
providers. These products include x-ray film, impression and restorative
materials, hand instruments, sterilization products, front office forms and
stationery as well as capital equipment. Patterson markets its products and
services through nearly 900 direct sales representatives and equipment
specialists in the United States and Canada.
This document contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve risks and uncertainties which are beyond the company's ability to
control and in many cases the company cannot predict what factors may cause
actual results to differ materially from those indicated by the forward
looking statements. These factors may include, among others: competition
within the dental supply industry; changes in the economics of dentistry,
including reduced growth in expenditures by private dental insurance plans and
the effects of healthcare reform, which may affect future per capita
expenditures for dental services and the ability of dentists to invest in or
obtain reimbursement for the use of high-technology products; the ability of
the company to maintain satisfactory relationships with its sales force; the
effects of economic conditions; unforeseen operating risks; risks associated
with the dependence on manufacturers of the company's products; and the
availability of capital to finance planned growth. These risks are qualified
in their entirety by cautionary language set forth in the company's Form 10-K
report filed July 16, 1998, and other documents filed with Securities and
Exchange Commission.
SOURCE Patterson Dental Company
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CONTACT: Ronald Ezerski, Vice President & CFO of Patterson Dental Company, 612-686-1600; or General Information, Leslie Hunziker, or Analyst Inquiries, Kathy Brunson, both of The Financial Relations Board, 312-266-7800
NOTE TO EDITORS: For further information on Patterson Dental free of charge via fax, dial 1-800-PRO-INFO and enter the number 207.
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