Dental Patient Care of America (DPAT) is a provider of management services and solutions to dentists across the United States. Dental Patient Care is essentially a dental cooperative consisting of over 100 independent dentists and nearly 500 dental providers participating on the Dentist Direct Dental panel. The company acquires, develops, finances, and provides various cooperative services to independent dentists in geographically select markets. Dental Patient Care also offers dental benefit plans.
The Utah-based company’s business is growing as more independent practices are opting to enter transition agreements with Dental Patient Care. The transition agreements allow dentists who want to sell their practices to do so with less risk than normal, and provide the tools necessary for the incoming dentist to develop and grow that practice in ways that could not be achieved without membership in the Dental Cooperative. Dental Patient Care America closed seven such agreements in 2007 and estimates another 50 closings in 2008.
Dental Patient Care had revenue of almost $1.5 million for the year ended Dec. 31, 2007, compared with $310,000 in 2006, and it reported a profit of almost $360,000 for 2007. The company competes with health care rivals such as Lincare Holdings Inc., Gentiva Health Services Inc. and Chemed Corp., though Dental Patient Care is much more niche-focused than the aforementioned rivals. It is also much smaller, with just four full-time workers.
Dental Patient Care has a market capitalization of $5.5 million and has almost 24 million shares outstanding. The shares closed today at 23 cents, just two cents away from their 52-week high of 25 cents. Average daily volume for the past three months is about 2,400 shares. The company was founded in 1998.
Let us hear your thoughts below: