MIAMI, Jan. 27, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Union Dental Holdings, Inc. (OTCBB:UDHI), Oracle Corporation (Nasdaq:ORCL), Corning Incorporated (NYSE:GLW) and General Electric Company (NYSE:GE).
Union Dental Holdings, Inc. (OTCBB:UDHI) issued a press release that may get investor's attention. Late yesterday afternoon, the company announced that through its wholly owned subsidiary, Union Dental Corp. (UDC), it has recently signed an agreement in Arizona with the Communications Workers of America (CWA) Local Unions in District 7 who represent Qwest Communications. Before the news was released, the company's stock closed at twenty-nine cents a share.
The press release stated that CWA District 7 is the largest district in CWA, consisting of 15 states. The exclusive agreement calls for UDC to build and maintain a Dental Network for CWA members to use. This new contract is a milestone for UDHI, as it is the first contract for the Company in District 7 and expands its existing dental network.
Dr. Green, President and CEO of UDHI commented: "We are excited about this contract because it represents the cornerstone of our plan to obtain contracts in the largest CWA territories."
Dr. Green further stated: "We plan to be in all of the states organized by District 7 to accompany the states in CWA District 3 and District 9 to equal a total of 35 states where UDC holds contracts with local unions."
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 yesterday were: Oracle Corporation (Nasdaq:ORCL) up 0.2% on 78.4 million shares traded, Corning Incorporated (NYSE:GLW) down 4.8% on 30 million shares traded and General Electric Company (NYSE:GE) down 0.5% on 20.7 million shares traded.
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