DENVER, Aug. 20, 2018 /PRNewswire/ -- Birner Dental Management Services, Inc. (OTCQX: BDMS), business services provider of PERFECT TEETH® dental practices, announced today that it has completed the sale of its Monument, CO dental office. The sale of the Monument office is expected to have a positive effect on the Company's consolidated EBITDA from operations on an ongoing basis.
While the Company has no formal plan in place to reduce its overall footprint, Management and the Board of Directors have initiated a detailed review of all underperforming locations. The review will seek to maximize the Company's cash flow, potentially repurpose valuable capital equipment, and rationalize or rebalance office personnel costs.
Certain of the matters discussed herein may contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations. These include statements regarding the Company's prospects and performance in future periods, including improvement in operating results and dentist hiring, the amount of bank debt, compliance with debt covenants, performance of de novo offices, the payment or nonpayment of dividends, dentist count, dentist turnover and recruitment, dentist productivity, new patient visits and patient flow and the impact of certain shareholder matters. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These and other risks and uncertainties are set forth in the reports filed by the Company with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2017. The Company disclaims any obligation to update these forward-looking statements.
For Further Information Contact:
Birner Dental Management Services, Inc.
Chief Financial Officer
SOURCE Birner Dental Management Services, Inc.