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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