American Dental Partners (ADPI) to Acquire Non-Clinical Assets of Christie Dental

November 16, 2009 9:42 AM EST

American Dental Partners, Inc. (NASDAQ: ADPI) announced today that it has entered into an agreement to acquire certain non-clinical assets of Christie Dental Practice Group, P.L. and Christie Dental Partners, Inc. and enter into a 40-year service agreement with Christie Dental Practice Group, P.L. The closing of the acquisition is expected to occur on or about December 1, 2009, at which time the service agreement will become effective. Christie Dental will be American Dental Partners' first affiliation with a dental group practice in the state of Florida.

Christie Dental is a multi-specialty dental group that generates approximately $25 million in patient revenue annually. Through a combination of organic growth and strategic acquisitions, Christie Dental has grown from a single location in Merritt Island, Florida in 1997 to 55 dentists and 26 locations in 2009, with significant concentrations in the Melbourne, Ocala and Orlando markets.

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