ADG, Inc. Withdraws its Offer to Purchase the Business of Birner Dental Management Services, Inc. at a Price Equivalent to $12 Per Share
BLOOMFIELD HILLS, Mich., Sept. 12 /PRNewswire/ -- On September 6, 2002, in a letter to the Independent Committee of the Board of Directors of Birner Dental Management Services, Inc., ADG, Inc., a Detroit, Michigan based Dental Practice Management Company, withdrew its offer to purchase the business of Birner at a price equivalent to $12 per share. The Board of Directors had previously rejected the ADG, Inc. purchase offer. ADG, Inc. cited, among other things, concerns about future revenue growth and cost cutting which may be detrimental to the long-term financial health of Birner, however, ADG, Inc. and its affiliates plan to continue to review the business affairs and financial results of Birner and may consider alternative transactions. ADG, Inc. manages 55 dental offices in five states offering general, orthodontic and specialty care all under the Great Expressions Dental Centers name. Contact: Richard E. Beckman Chief Executive Officer 1-248-203-1121 MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X18288483
SOURCE Great Expressions Dental Centers
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