Sebring Software – An Unusual Business Model in the Software Industry
“Simon Orthodontic Centers” of Miami, FL, and “Implant, General & Cosmetic Dentistry” of Tampa Bay, FL, to Join Sebring’s Growing Portfolio of Dental Practice Offices Under Management.
Sebring Software, Inc. (“Sebring”) (SMXI), a growing Dental Practice Management company with operations in Arizona and Florida, has purchased, and entered into Management Agreements to manage, the administrative operations of two practices in Florida; “Simon Orthodontic Centers” (SOC) of Miami, FL, and “Implant, General & Cosmetic Dentistry” (IGCD) of Tampa Bay, FL. The acquisitions bring the total number of offices under Sebring’s management to 37.
Leif Andersen, Sebring President and Chief Executive Officer, commented: “We are moving forward with our strategy to provide administrative and management services to dental practices, and have strengthened our base in Florida with these agreements. Our goal has always been to make strategic transactions to bring top talent to Sebring as we expand. The addition of Dr. Jan Simon from Simon Orthodontic Centers, and Dr. Hani Tadros from Implant, General & Cosmetic Dentistry, will strengthen our expertise and build our portfolio of practices. It is important to note that day-to-day operations of these practices will not change, although back-office duties will consolidate to our operational headquarters in Clearwater. We have built a strong team of experienced doctors with significant experience in running offices, and we will utilize their expertise to strengthen both of these practices. We look forward to integrating both practices to the Sebring Family in the coming quarter, and moving ahead with our execution plan to manage additional practices.”
About Simon Orthodontic Centers: $3.5M Acquisition
Simon Orthodontic Centers was founded by Dr. Jan Simon in 1996 and has two family offices in the Miami, FL area. Dr. Simon began practicing in 1974, and is a member of the Florida Dental Association, East Coast Dental Society, American Dental Association, and the American Association of Orthodontists. The practice has 21 employees with a total of three doctors on staff that provide orthodontic services. Dr. Simon’s operation has gained significant market share in the Florida dental market, and the addition will add more capacity to Sebring’s Florida management platform, as well as significant market expertise. Review the 8K HERE to read more information about the transaction.
About Implant, General & Cosmetic Dentistry (IGCD): $617,000 Acquisition
Implant, General & Cosmetic Dentistry was founded by Dr. Hani Tadros in 2007 and has an office in Largo, FL. The practice provides a full range of implant and cosmetic dentistry services and has 6 employees. Sebring Management FL, LLC also consolidated the physical location of another one of its practices in Largo, Orthodontic Specialists of Florida, into IGCD’s offices. This will be a continued effort to cut overhead whenever possible to make better use of existing office space and equipment. 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.
Source: Sebring Software