It appears American Securities has seen the light! Maybe they had a "come to Jesus moment". Whatever the case, its reported to me Kool Smiles will not be sold, not right now anyway!
Knowing the lawsuits coming down the pipe is believed to have had a great influence in this decision. Huge argument on whether it's "pike or pipe", but none the less, it's coming.
I would also assume the fact most of these clinics are illegal operations in most states might have some influence as well.
I can see the headlines now:
“American Securities Buy Illegal Dental Clinics for $700 Million Dollars” or “Dental Clinics-Operating Illegally-Sold for $700 Million; Top Executives Say It Was a Great Deal”
along side
“Couple Has Crack House For Sale, includes falsified licenses, and all other bogus documents, insurance is transferable. Asking price, average of last 5 years revenue.”
However, we can’t dismiss the Early Termination Request granted from the FTC on October 29, 2010, between American Securities Partners V Limited Partnership, Friedman, Fleischer and Lowe Capital Partners Limited Partnership and Kool Smiles Holding Corporation.
Huge argument on whether it's "pike or pipe", but none the less, it's coming.
