MIAMI, Jan. 31, 2005 (PRIMEZONE) -- Stock Market Alert's watch list includes: Union Dental Holdings, Inc. (OTCBB:UDHI), Microsoft Corporation (Nasdaq:MSFT), Cisco Systems, Inc. (Nasdaq:CSCO) and Intel Corporation (Nasdaq:INTC).
Union Dental Holdings, Inc. (OTCBB:UDHI) issued a press release that may get investor's attention. Late Friday afternoon, the company announced that through its wholly owned subsidiary Union Dental Corp., (UDC) has signed a long term, exclusive contract to provide a Dental Network for the Communications Workers of America (CWA) Local 3104, located in Pompano Beach, Florida. Before the news was released, the company's stock closed at sixty-four cents a share.
The press release stated that Local 3104 represents Bell South, AT&T and Lucent. As a part of the exclusive nature of the agreement, UDC will be the only Dental Network CWA Local 3104 will endorse for use by its members. The terms of the Agreement were unanimously ratified by the members at the General Membership meeting on January 10th.
Dr. George D. Green, President and C.E.O. of the company stated: "This 5 year exclusive contract is an endorsement by the Communications Workers of America union of the great care received by their membership. Our doctors' continual renewal on these networks builds the stable economic base of our company. Through these mutually beneficial relationships, our networks will continue to expand into other regions of the country with CWA and other unions in the future."
UDC has been providing a Dental Network for CWA in Florida since its inception and has expanded the concept and Dental Network throughout District 3, which along with Florida includes Alabama, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.
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: Microsoft Corporation (Nasdaq:MSFT) up 0.2% on 110.5 million shares traded, Cisco Systems, Inc. (Nasdaq:CSCO) down 1.5% on 78 million shares traded and Intel Corporation (Nasdaq:INTC) down 0.3% on 76.6 million shares traded.
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