| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| American Dental Partners, Inc. |
| 301 Edgewater Place, Suite 320, Wakefield, MA 01880 * (781) 224-0880 |
| The company is a leading provider of dental practice management services to multi-disciplinary dental group practices in attractive markets in the United States. |
| Manager | Tier | Phone |
| BT Alex Brown | Lead Manager | (410) 727-1700 |
| BancAmerica Robertson Stephens | Co-manager | (415) 989-8500 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6220 |
| NASNTL: | ADPI | Service: | SIC 8099 | |
| Type of Shares: | Common Shares | Filing Date: | 11/12/97 | |
| U.S. Shares: | 2,250,000 | Offer Date: | 4/15/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 2,250,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.05 | |
| Offering Amount: | $31,500,000 | Selling: | $0.60 | |
| Expenses: | $1,000,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 6,794,217 | |||
| Employees: | 818 |
| Issuer's Law Firm: | Baker & Hostetler |
| Bank's Law Firm: | Ropes & Gray |
| Registrar/Transfer Agent: | BankBoston |
| Auditor: | KPMG Peat Marwick |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/96 | 9/30/97 | 9/30/96 | 9/30/97 | ||
| Revenue: | $3.93 | $36.62 | $0.00 | Assets: | $28.29 |
| Net Income: | -$2.44 | $0.75 | -$1.51 | Curr Assets: | $7.31 |
| EPS: | -$0.55 | $0.07 | -$0.33 | Liabilities: | $12.08 |
| Prior EPS: | Curr Liab: | $6.56 | |||
| Cash Flow/Oper: | Equity: | $16.21 | |||
| Cash Flow/Fin: | Cash: | $2.46 | |||
| Cash Flow/Inv: | Working Cap: | $0.74 | |||
| Competition |
| The business of providing practice management services is highly competitive. The Company is aware of a number of competitors specializing in the business of providing comprehensive management services to dental practices and there are other companies with substantial resources that may decide to enter the dental practice management business. In addition, the Company's revenue depends on the success of its affiliated dental groups and those groups face competition from several sources, including solo practitioners and single and multi-disciplinary groups, many of which may have more established practices. |
| Business Plan |
| The Company's objective is to be the leading dental practice management company in the United States. In order to achieve this objective, the Company's business strategy is to: (I) Expand into carefully selected markets, (ii) Affiliate with leading dental group practices, (iii) Increase market penetration, (iv) Add value to each affiliated dental group practice and (v) Focus on quality care. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to redeem the company's Series B redeemable Preferred Stock, to repay certain indebtedness and for general corporate purposes including acquisitions. |
| Name of Shareholder | % Owned Before | % Owned After |
| Summit Ventures | 0.50 | 0.35 |
| Martin J. Mannion | 0.50 | 0.35 |
| Greogry A. Serrao | 0.13 | 0.09 |
| Delta Associates, Ltd. | 0.08 | 0.06 |
| Dr. Gregory T. Swenson | 0.07 | 0.05 |
| Officer Name | Title | Age |
| Gregory A. Serrao | Chairman, President and Chief Executive Officer | 34 |
| Dr. Greogry T. Senson | President of PDHC, Ltd. And Director | 63 |
| Ronald M. Levenson | Senior Vice President, Chief Financial Officer and Treasurer | 41 |
| George W. Robinson | Senior Vice President--Operations | 60 |
| Forrest M. Flint | Vice President--Business Development and General Counsel | 45 |
| Kathryn A. Russell | Vice President--Finance and Administration, Chief Financial Officer, Treasurer and Secretary | 45 |
| Michael F. Frisch | Vice President--Regional Operations | 39 |