Sebring Software Closes Asset Purchase Agreement with Scottsdale Dental Practice and will Begin Managing its Operations "North Scottsdale Family & Cosmetic Dentistry, PLLC" to Strengthen Company's Portfolio of Dental Practices in Arizona
SARASOTA, Fla., Jan. 10, 2014 /PRNewswire/ -- Sebring Software, Inc. ("Sebring") (OTC: SMXI), a growing Dental Practice Management company with operations in Arizona and Florida, has purchased the administrative operations of North Scottsdale Family & Cosmetic Dentistry, PLLC (NSFCD), of Scottsdale, AZ. The acquisition brings the total number of offices under Sebring's management to 38, with four practices in Arizona that specialize in family, cosmetic and restorative dentistry.
Leif Andersen, Sebring President and Chief Executive Officer, commented: "Our team has been working hard to expand our operations in Arizona and closing this agreement fits well into our portfolio. We have been focused on looking for family, cosmetic & restorative practices in the region and the North Scottsdale office will be a strategic asset for us to expand Sebring's operations. We look forward to working alongside Dr. Steven H. Poulos and Dr. Sid S. Stevens, who built the practice, as we continue to grow the business and our presence in Arizona. Combined with our other three practices in Arizona, we are building a solid platform with quality businesses that we believe will drive continued growth. It is our goal to increase our portfolio of offices under management, and we look forward to updating our shareholders as we move ahead with our plan."
About North Scottsdale Family Dentistry: $2.0M Acquisition
North Scottsdale Family Dentistry was founded in 1986 and provides the Scottsdale community with family, cosmetic and restorative dental services. The practice offers extensive procedures and is run by Dr. Steven H. Poulos and Dr. Sid S. Stevens with assistance from a staff of approximately fifteen professionals. Between both Doctors, they are members of a number of affiliations and have authored books on dentistry. To read more about the doctors and their practice visit http://www.myscottsdaledentist.com. Review the 8K HERE to read more information about the transaction.
About Sebring Software:
Sebring Software, Inc. a Nevada Corporation ("Sebring") acquired Sumotext, Inc., a publicly traded company, in October 2010. Sebring is in the software business and is focused on the Dental Practice Management industry ("DPM"). DPM companies combine acquisition and organic growth to boost revenues while instilling best practice management infrastructure to increase the dental practices' profitability. Capital and cost efficiency have driven the dental services industry to join DPM companies rather than remain as sole practitioners. Most DPMs and dental practices use different software packages. Sebring plans to use software solutions to substantially reduce the cost of DPMs data entry.
This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. Important factors known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, ability to compete successfully, and ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
SOURCE Sebring Software, Inc.