Bright Now! Dental Inc. Announces Completion of the Acquisition of Castle Dental Centers Inc.
Santa Ana, CA & Houston, TX (Business Wire) June 14, 2004 — Bright Now!® Dental Inc. and Castle Dental Centers Inc. (OTCBB:CASL – News), today announced that Bright Now! Dental Inc. has completed the acquisition of Houston-based Castle Dental. Castle Dental was a portfolio company majority owned by an affiliate of Sentinel Capital Partners LLC, and was advised on the transaction by Sheffield Merchant Banking Group. Bright Now’s majority shareholder is Gryphon Investors Inc., a leading middle-market private equity firm. Castle Dental is now a wholly owned subsidiary of Bright Now! Dental Inc.
“We’ve united two strong organizations, each with significant capabilities, into one outstanding company,” said Steven C. Bilt, president and chief executive officer of Bright Now. “Castle is an important addition to the Bright Now family—our already extensive national presence is expanded to nearly 300 offices in 19 states. By joining our sector’s two strongest business process support companies, I anticipate that our new entity will be even more effective in providing these critical services.” Bilt looks forward to leveraging these capabilities to further enhance the effectiveness of the combined company’s talented field operating teams. “Together, we’ll advance our mission of helping dentists to operate their practices with a heightened focus on excellent patient care,” he said.
About Bright Now!® Dental Inc.
Bright Now! Dental Inc. and its wholly owned subsidiaries, Monarch Dental Corp., Castle Dental Centers, and Newport Dental Plan, provide business support services to approximately 300 dental offices in 19 states nationwide. Affiliated and staff dentists provide general, specialty, and cosmetic care to more than 2 million patients each year. Bright Now’s mission is to manage the time-consuming business functions of running dental practices, in order to free dentists to devote virtually all of their time to caring for patients by delivering high-quality dental care, superior service, and exceptional value.
Bright Now offers dentists and their patients numerous benefits and advantages over traditional dental care models. Bright Now assumes responsibility for business support services such as finance, sales and marketing, information technology, human resources, purchasing, and real estate development, while dentists retain responsibility for all clinical matters. Patients benefit from quality, full-service dental care, including general dentistry, cosmetic dentistry, and specialty services such as orthodontics. Extended evening and weekend office hours, convenient locations, affordable prices, and flexible payment plans make quality dental care available to a wide range of patients.
Based in Santa Ana, Bright Now and its affiliated dentists employ 4,300 people nationwide. Bright Now’s majority shareholder is Gryphon Investors Inc., a leading middle-market private equity firm with more than $500 million of capital under management. For more information, visit www.brightnow.com.
About Castle Dental Centers Inc.
Castle Dental Centers Inc. and its affiliated dental practices provide dental services to 73 dental offices in Texas, Florida, Tennessee, and California. Based in Houston, Castle Dental traces its roots back to 1948 when Dr. Jack H. Castle began his first dental practice. For more information, visit www.castledental.com.
John M. Slack