4-11-2008
Dental Management Companies are on notice.
A former employee was awarded $412,500 for stepping forward and exposing over billing, over treatment, and unnecessary procedures billed by Heartland Dental Management. Heartland also agreed to pay Lori Jamison another $325,000 for wrongful dismissal and attorney fees.
Lori had the courage to step forward and file a claim under the Federal False Claims Act and Illinois' Whistleblower Reward and Protection Act.
My hat is off to Miss Lori, how about yours?
Read The Full Story Here
Friday, May 02, 2008
2 Year Old Leaves Winston-Salem Smile Starters With Bloody Nose
Recently, and I mean VERY recently 2 year old Kimora, visited the Smile Starters Clinic, located in Winston-Salem, NC on Silas Creek Parkway with a bloody nose.
Her mother reports this was the child's second visit, her first was for a cleaning. This time they wanted to put crowns on four of the two year old's teeth.
After about 30 minutes the child was returned to her mother and the mother was told that only cleaned her teeth but wanted her back for more treatment. Mom said you could tell she had been crying and blood was "dripping" from her nose.
Her mother told the people at the clinic she would NOT be bringing her child back. When mom got home and looked on the Internet and found all the negative reports with Smile Starters she immediately called the clinic to have her daughter's dental records sent to her.
Her mother says the child is now acting strange, even after getting some rest from the incident. Her mother said her son has also visited this clinic and they have put 7 crowns on his teeth. Mom feels like none of the were necessary since she sees to it the children take good care of their teeth and limits sweets etc.
When I questioned mom if she was able to go back with her child or if there was a window to observe the treatment she told me they wouldn't let her go back with her small daughter. She said there was a small two way mirror where she could look see in, but as reported by others on this site it only lets one see into the "cleaning" room and her daughter was taken further back into the clinic.
Now what did those people do to give a 2 year old child a bloody nose. When I try and picture it in my mind, knowing what I do about these people, I would say it happened while trying to wrestle her into the papoose board!
Shame on Smile Starters Once Again!
New Management! HA!
Her mother reports this was the child's second visit, her first was for a cleaning. This time they wanted to put crowns on four of the two year old's teeth.
After about 30 minutes the child was returned to her mother and the mother was told that only cleaned her teeth but wanted her back for more treatment. Mom said you could tell she had been crying and blood was "dripping" from her nose.
Her mother told the people at the clinic she would NOT be bringing her child back. When mom got home and looked on the Internet and found all the negative reports with Smile Starters she immediately called the clinic to have her daughter's dental records sent to her.
Her mother says the child is now acting strange, even after getting some rest from the incident. Her mother said her son has also visited this clinic and they have put 7 crowns on his teeth. Mom feels like none of the were necessary since she sees to it the children take good care of their teeth and limits sweets etc.
When I questioned mom if she was able to go back with her child or if there was a window to observe the treatment she told me they wouldn't let her go back with her small daughter. She said there was a small two way mirror where she could look see in, but as reported by others on this site it only lets one see into the "cleaning" room and her daughter was taken further back into the clinic.
Now what did those people do to give a 2 year old child a bloody nose. When I try and picture it in my mind, knowing what I do about these people, I would say it happened while trying to wrestle her into the papoose board!
Shame on Smile Starters Once Again!
New Management! HA!
Dr. Steven Adair Is Small Smiles New Cheif Dental Officer-Ya Gotta Love it!
See how smart these people are:
They hired the one doctor who wrote an article for the American Academy of Pediatric Dentist on how papoose boards need to be modified for use in dental practice.
(chew on that in a minute...)
Small Smiles hired a Papoose Board Expert!!!!!!!!!!!!!!!! Click Here
Doesn't sound like they plan on doing away with tied kinds down now does it?!
What surprises me is that someone with Dr. Adair's credentials would going up with such a child abusing company as FORBA/Small Smiles. If he thinks he's going to ride in on his white horse and "clean things" up that certainly will not happen. The DeRose's have been doing this since for darn near 20 years, they are set in their ways. Plus I'd say within the next year, this place will be in even worse shape in the eyes of the public, and that's all that really counts isn't it?
Funny how I just posted his article yesterday. Then I see where someone on my site had searched Dr. Adair, so I followed that link and low and behold there was this........... click here.
At the link above is a press release where Dr. Tara Schafer was appointed as the Medical College of Georgia's interim chair by the School of Dentistry Dean, Connie Drisko, a position previously held by Dr. Steven Adair.
God works in mysterious ways!
They hired the one doctor who wrote an article for the American Academy of Pediatric Dentist on how papoose boards need to be modified for use in dental practice.
(chew on that in a minute...)
Small Smiles hired a Papoose Board Expert!!!!!!!!!!!!!!!! Click Here
Doesn't sound like they plan on doing away with tied kinds down now does it?!
What surprises me is that someone with Dr. Adair's credentials would going up with such a child abusing company as FORBA/Small Smiles. If he thinks he's going to ride in on his white horse and "clean things" up that certainly will not happen. The DeRose's have been doing this since for darn near 20 years, they are set in their ways. Plus I'd say within the next year, this place will be in even worse shape in the eyes of the public, and that's all that really counts isn't it?
Funny how I just posted his article yesterday. Then I see where someone on my site had searched Dr. Adair, so I followed that link and low and behold there was this........... click here.
At the link above is a press release where Dr. Tara Schafer was appointed as the Medical College of Georgia's interim chair by the School of Dentistry Dean, Connie Drisko, a position previously held by Dr. Steven Adair.
Dr. Tara Schafer, associate professor in the Medical College of Georgia Department of Pediatric Dentistry and an MCG alumna, has been appointed as the department’s interim chair by School of Dentistry Dean Connie Drisko.
“Dr. Schafer is a highly skilled pediatric dentist,” Dr. Drisko says. “I am certain her leadership and forward thinking will continue to advance the department in its mission of providing quality training for students and residents while maintaining a focus on patient- and family-centered care.”
Dr. Steven Adair, the department’s chair since 1990, has reduced his work commitment in the school to assume the position of chief dental officer for FORBA, Inc., the parent company of Small Smiles Dental Clinics, which treats underserved children.
God works in mysterious ways!
Report on Tish Ballance Still Going After Medicaid Dollars-ABC 13 news.
I told you guys a few weeks ago, that Tish Ballance was opening up a new 'State of the art" clinic in Ashville. Finally it's hit the news on Ashevilles ABC13, Frank Fraboni reporting (requires IE not Firefox). See Here for the video report.
This reports says that this particular Smile Starters wasn't involved in the 10 million dollar law suit, but failed to mention that every dentist in ALL Smile Starters go to the same boot camp for training. This particular office just didn't have any parents step forward.
Note how those employees look like deer caught in the headlight. Wonder why no reporter has ambused DeRose over the years. Come on guys, let's get on that one.
(see that's what's this site is all about, gathering information for reporters and agencies so they don't have to spend the same hundreds of hours researching this whole mess and it's all in a nice package right her to pick through and decide what each wants to report on, or agency wants to file what chargers, call it my gift to the world)
In the report above documents show that even today, DeRose and Ballance still own Smile Starters, even though they say it's been sold to Dr. Raf Rivera. They employees still acknowledge DeRose and Ballance still own Smile Starters, and DeRose said months and months ago he sold them or they were under "new management", depends on who he's talking to at the moment. Wouldn't you hate to have him for a client. Honestly he can't tell the same story twice.
According to other reports Dr. Rivera took over ....clearing throat.... I mean bought all the Smile Starters across the area. (Funny wonder how many times DeRose can sell the same clinics..didn't he once say he sold them to FORBA, Oh wait, forgot....FORBA is owned by DeRose...excuse me)
My guess they've already hired a new ad agency to come up with another new name for Smile Starters, design another sweet little logo and look for new signage to arrive at any time. Of course I could be wrong.
When it comes to this bunch I'm usually not too far off. So I guess they can advertise "new management" right? (Rolling on the floor laughing) that has taken over Smile Starters.
Of course this is standard procedure for DeRose, say they've been sold or at the least under new management (picking myself up off the floor) as pretend he's wiped his hands of the whole thing. I've uncovered at least 25, or was it 27 different names where he's done this exact thing.
Dr. Rivera will now be the so called owner and Root Dental Management to run the terrorist camps, as known as, dental management. Don't think for a minute that Michael DeRose is not involved or getting a cut off the top, he's now the probable "consultant". It's not hard to figure out the business model since it's been status quo for years.
Dr. Rivera is an old employee of Medicaid Dental Centers-Carolina Dental Centers-Smile Starters, I would bet money he's as guilty as Tish Ballance or Heather Berkheimer in gross overtreatment of the children's teeth as well as tying them up on papoose boards.
My guess (and I guess pretty well) is that the only reason he was not officially sanctioned and named in the current lawsuits is that no patient seen by him in particular came forward with complaints. ?This is where you parents out there have to step up.
That would make him the perfect candidate to take over wouldn't it. He's trained well in the standard procedure, yet not named in lawsuits. The we have the new "Root Dental Management" with Ryan Root in charge of that. Knowing full well Ryan Root has been the sidekick of Dr. Michale (Mike) DeRose for years. Actually Ryan Root is the staff accountant for FORBA I do believe. Bob Root's company, Ryan's dad, Rice/Root or something like that , then Ryan came on over to work exclusively for FORBA.
I sure hope DeRose pays Ryan Root well, since DeRose has conned Ryan into sticking his neck out there to be cut off and it will.
Tish, honey this is to you: Look, your name is mud in the dental world. It's time for you to just get back in school and find another profession. And I'd lose the "Tish" in your name. I know you've been brainwashing by DeRose, thinking you are as Teflon coated as he's been through the years, but his reign as Teflon king in the dental world in rapidly coming to an end and you need to just find something else outside the dental profession to do with your life. Now I know you are a strong person and can start over, preferably in another country....say Bahrain maybe.
(I was just thinking... I've got a lot of vacation time this summer, and I've had a few suggestions on where I could go...he he he. I also have a very nice expensive sony video recorder, and I know Colorado is very nice this time of year..... )
This reports says that this particular Smile Starters wasn't involved in the 10 million dollar law suit, but failed to mention that every dentist in ALL Smile Starters go to the same boot camp for training. This particular office just didn't have any parents step forward.
Note how those employees look like deer caught in the headlight. Wonder why no reporter has ambused DeRose over the years. Come on guys, let's get on that one.
(see that's what's this site is all about, gathering information for reporters and agencies so they don't have to spend the same hundreds of hours researching this whole mess and it's all in a nice package right her to pick through and decide what each wants to report on, or agency wants to file what chargers, call it my gift to the world)
In the report above documents show that even today, DeRose and Ballance still own Smile Starters, even though they say it's been sold to Dr. Raf Rivera. They employees still acknowledge DeRose and Ballance still own Smile Starters, and DeRose said months and months ago he sold them or they were under "new management", depends on who he's talking to at the moment. Wouldn't you hate to have him for a client. Honestly he can't tell the same story twice.
"Mike DeRose, this is to you personally: Changing the name over the door, does not mean "New Management"....duh! And how many dental management company names do you have now, I'm up to at least 5 or 6 in the management area alone. Let's see, BBJ (your relatives) Root Management (your accountant) FORBA, LLC (you and your brother) FORBA Management, LLC (you and your brother) ...shoot I've done lost track. You know, I myself would love to have you on the witness stand, oh what a joyous day for me that would be."
According to other reports Dr. Rivera took over ....clearing throat.... I mean bought all the Smile Starters across the area. (Funny wonder how many times DeRose can sell the same clinics..didn't he once say he sold them to FORBA, Oh wait, forgot....FORBA is owned by DeRose...excuse me)
My guess they've already hired a new ad agency to come up with another new name for Smile Starters, design another sweet little logo and look for new signage to arrive at any time. Of course I could be wrong.
When it comes to this bunch I'm usually not too far off. So I guess they can advertise "new management" right? (Rolling on the floor laughing) that has taken over Smile Starters.
Of course this is standard procedure for DeRose, say they've been sold or at the least under new management (picking myself up off the floor) as pretend he's wiped his hands of the whole thing. I've uncovered at least 25, or was it 27 different names where he's done this exact thing.
Dr. Rivera will now be the so called owner and Root Dental Management to run the terrorist camps, as known as, dental management. Don't think for a minute that Michael DeRose is not involved or getting a cut off the top, he's now the probable "consultant". It's not hard to figure out the business model since it's been status quo for years.
Dr. Rivera is an old employee of Medicaid Dental Centers-Carolina Dental Centers-Smile Starters, I would bet money he's as guilty as Tish Ballance or Heather Berkheimer in gross overtreatment of the children's teeth as well as tying them up on papoose boards.
My guess (and I guess pretty well) is that the only reason he was not officially sanctioned and named in the current lawsuits is that no patient seen by him in particular came forward with complaints. ?This is where you parents out there have to step up.
That would make him the perfect candidate to take over wouldn't it. He's trained well in the standard procedure, yet not named in lawsuits. The we have the new "Root Dental Management" with Ryan Root in charge of that. Knowing full well Ryan Root has been the sidekick of Dr. Michale (Mike) DeRose for years. Actually Ryan Root is the staff accountant for FORBA I do believe. Bob Root's company, Ryan's dad, Rice/Root or something like that , then Ryan came on over to work exclusively for FORBA.
I sure hope DeRose pays Ryan Root well, since DeRose has conned Ryan into sticking his neck out there to be cut off and it will.
Tish, honey this is to you: Look, your name is mud in the dental world. It's time for you to just get back in school and find another profession. And I'd lose the "Tish" in your name. I know you've been brainwashing by DeRose, thinking you are as Teflon coated as he's been through the years, but his reign as Teflon king in the dental world in rapidly coming to an end and you need to just find something else outside the dental profession to do with your life. Now I know you are a strong person and can start over, preferably in another country....say Bahrain maybe.
(I was just thinking... I've got a lot of vacation time this summer, and I've had a few suggestions on where I could go...he he he. I also have a very nice expensive sony video recorder, and I know Colorado is very nice this time of year..... )
Thursday, May 01, 2008
DeRose's Attorney Blames Parents For The Tortue Done By His Clients
DeRose's, Ballance's and Berkheimer's attorney representing them in the Medicaid Dental Clinic (Smile Starters) lawsuit filed for preforming 14-17 root canals and caps says it' the parents fault for letting the children's teeth get that bad in the first place and says it's all silly!
What as asshole!
Here is the quote:
What is silly is that this man would say such a thing and wonder if it were his child he would think it was so silly!!! I'd give anything for one of his kids to be taken back to the dungeon and tied up, and drilled on for hours and see if he thought it was "silly"
Must be a bit more than silly. After all DeRose and Ballance paid 10 million dollars to get out of a federal trail. I'd say it's pretty serious. Wonder how much they are willing to pay to get out of this trail.
We know they in no way want all their back ally dental practices brought out in a public trial. This could lead to an old fashion lynching and there's not been one of those is years!
I just wonder if I did those things to children I would have gotten off so easy, something tells me I'd be in jail, if I lived that long.
What as asshole!
Here is the quote:
James Wyatt, MDC's attorney, called the allegations "silly" and added that all parents have to give written consent for any procedures at the clinics. "The children not only needed that work, it was imperative. The real question is why did the parents let their children's teeth get in such a horrible condition?"
What is silly is that this man would say such a thing and wonder if it were his child he would think it was so silly!!! I'd give anything for one of his kids to be taken back to the dungeon and tied up, and drilled on for hours and see if he thought it was "silly"
Must be a bit more than silly. After all DeRose and Ballance paid 10 million dollars to get out of a federal trail. I'd say it's pretty serious. Wonder how much they are willing to pay to get out of this trail.
We know they in no way want all their back ally dental practices brought out in a public trial. This could lead to an old fashion lynching and there's not been one of those is years!
I just wonder if I did those things to children I would have gotten off so easy, something tells me I'd be in jail, if I lived that long.
Why Dentists Aren't Stepping Forward
I've been asking a lot of question lately about why more dentists, assistants and hygienists have not come forward to expose, Small Smiles, Kool Smiles, Smile High and other medicaid dental centers.
What I've discovered is that:
1. There are hundreds out there! I mean hundreds!
2. They signed confidentiality agreements under the guise of HIPPA laws but in reality Corporate wants them to keep their mouths shut.
3. Some employees who left these torture chambers and struggling to move on, some even suffering from Post Traumatic Stress Syndrome themselves.
4. Some even have hard documented evidence of abuse to the children but once again, due to HIPPA laws only the parents of the children involved can make use of it.
5. The employees still there are between a rock and a hard place. They need the job. And now that they have associated themselves with these places will find it extremely hard to find other employment as well as impossible to get malpractice insurance.
6. And I don't know if this one is factual or not, but wouldn't be surprised. There is a black list of sorts kept on all dentists who have worked at Small Smiles, Kool Smiles, Smile Starters and others that is maintained and shared among state dental boards. (if this is not happening, it sure sounds like a wonderful idea)
So, if our law makers, our policy makers or state dental boards can't seem to find current regulations to end this, or are not going to quickly pass regulations to end this then at least do something to discourage dentists from finding employment with these clinics.
What I've discovered is that:
1. There are hundreds out there! I mean hundreds!
2. They signed confidentiality agreements under the guise of HIPPA laws but in reality Corporate wants them to keep their mouths shut.
3. Some employees who left these torture chambers and struggling to move on, some even suffering from Post Traumatic Stress Syndrome themselves.
4. Some even have hard documented evidence of abuse to the children but once again, due to HIPPA laws only the parents of the children involved can make use of it.
5. The employees still there are between a rock and a hard place. They need the job. And now that they have associated themselves with these places will find it extremely hard to find other employment as well as impossible to get malpractice insurance.
6. And I don't know if this one is factual or not, but wouldn't be surprised. There is a black list of sorts kept on all dentists who have worked at Small Smiles, Kool Smiles, Smile Starters and others that is maintained and shared among state dental boards. (if this is not happening, it sure sounds like a wonderful idea)
So, if our law makers, our policy makers or state dental boards can't seem to find current regulations to end this, or are not going to quickly pass regulations to end this then at least do something to discourage dentists from finding employment with these clinics.
Wednesday, April 30, 2008
April 2008 Small Smiles VP in Virginia
4-11-2008
Virginia Dental Advisory Commitee Minutes
Claims of misconduct by clinic dentists were investigated. Audit results were positive and Small Smiles has been reinstated by affected managed care organizations. Free care was provided to children during the period of network suspensions. Small Smiles has a new Chief Dental Officer, Dr. Steven Adair, who will work to ensure quality dental services in the clinics. The use of protective stabilization occurs in approximately 4% of the children treated in the clinics.
A hotline has been established for parents to call if they have any concerns about the dental treatment provided in any of the clinics. Dr. Chema reported DMAS had performed site visits and determined that the clinical operations in the three Virginia clinics appeared to be within acceptable standards of practice.
Well what did they think Todd Cruse was going to say? Did they invite, introduce or ask for statements for all the children or parents of children who Small Smiles has tied down and done unnecessary work on, well no!
Just more hogwash!
The above mentions a hotline for complaints... where is that number exactly and who gets that call, Small Smiles office!? Yes, as we can see from past behavior they police themselves very well.
What really kills me is that Todd Cruse, Mike DeRose and even David Meyer make all these blanket statements and fail to address the real issues.
Todd evidently failed to discuss the "training manual" that devotes a full page on how to separate children from their parents.
Todd didn't address just how many papoose board they have in each clinic.
Todd didn't mention the daily emails that go out telling each clinic the days quota they were expected to make.
It amazes me that when an "board" or "agency" investigates they ask the criminal instead of the victims!
How many victims have been invited to speak in front of these dental boards? Yet, Todd can get an audience with them... Just friggin amazing!
Virginia Dental Advisory Commitee Minutes
Media Coverage of Medicaid Dental Clinics
Mr. Finnerty introduced Todd Cruse, Sr. Vice President of Small Smiles who addressed the Committee about the recent negative press events around the clinical treatment provided at the Small Smiles Clinics. Mr. Cruse referenced several news stories that ran on local and national television stations on the operations in several of his clinics around the country. He reported that some of the televised reports were false and misconstrued the facts. Claims of misconduct by clinic dentists were investigated. Audit results were positive and Small Smiles has been reinstated by affected managed care organizations. Free care was provided to children during the period of network suspensions. Small Smiles has a new Chief Dental Officer, Dr. Steven Adair, who will work to ensure quality dental services in the clinics. The use of protective stabilization occurs in approximately 4% of the children treated in the clinics.
A hotline has been established for parents to call if they have any concerns about the dental treatment provided in any of the clinics. Dr. Chema reported DMAS had performed site visits and determined that the clinical operations in the three Virginia clinics appeared to be within acceptable standards of practice.
Well what did they think Todd Cruse was going to say? Did they invite, introduce or ask for statements for all the children or parents of children who Small Smiles has tied down and done unnecessary work on, well no!
Just more hogwash!
The above mentions a hotline for complaints... where is that number exactly and who gets that call, Small Smiles office!? Yes, as we can see from past behavior they police themselves very well.
What really kills me is that Todd Cruse, Mike DeRose and even David Meyer make all these blanket statements and fail to address the real issues.
Todd evidently failed to discuss the "training manual" that devotes a full page on how to separate children from their parents.
Todd didn't address just how many papoose board they have in each clinic.
Todd didn't mention the daily emails that go out telling each clinic the days quota they were expected to make.
It amazes me that when an "board" or "agency" investigates they ask the criminal instead of the victims!
How many victims have been invited to speak in front of these dental boards? Yet, Todd can get an audience with them... Just friggin amazing!
Tuesday, April 29, 2008
DeRose and Crew Recruiting New Dentists-Students BeWare
From the looks of the traffic on this blog I would have to conclude Mike DeRose and cronies are visiting Dental Schools across the country trying to round up new recruits to bring to their various "management" camps.
If you are a dental student and anyone from Smile Starters, Small Smiles, Kool Smiles, FORBA, or Access West DO NOT associate yourself with these terrorists.
Take time to read this blog and run for your life!
If you are a dental student and anyone from Smile Starters, Small Smiles, Kool Smiles, FORBA, or Access West DO NOT associate yourself with these terrorists.
Take time to read this blog and run for your life!
Monday, April 28, 2008
Can You Believe It Took 5 Years To Decide 16 Baby Root Canals At One Sitting Isn't A Good Idea
You know what I've been thinking?
Since the State Of North Carolina, it appears, is going to let Tish Ballance open up another medicaid dental clinic...
...and Michael DeRose be the "consultant" for Dr. Raf Rivera's new and improved Smile Starters.
....why don't they just save the children years of Post Traumatic Stress Syndrome and thousands of night terrors and write Tish Ballance, Raf Rivera, and Michael DeRose a check and keep their asses at home away from the children!
I mean, honestly, they haven't stopped them from getting into the medicaid piggy bank, nor has the state pulled their licenses so evidently they want them to have the money....
...cut the assholes a check!
Since the State Of North Carolina, it appears, is going to let Tish Ballance open up another medicaid dental clinic...
...and Michael DeRose be the "consultant" for Dr. Raf Rivera's new and improved Smile Starters.
....why don't they just save the children years of Post Traumatic Stress Syndrome and thousands of night terrors and write Tish Ballance, Raf Rivera, and Michael DeRose a check and keep their asses at home away from the children!
I mean, honestly, they haven't stopped them from getting into the medicaid piggy bank, nor has the state pulled their licenses so evidently they want them to have the money....
...cut the assholes a check!
The Smile Behind Small Smiles-Atif Abdulmalik
This is "what's his name" when I first started reporting about Small Smiles as was listed on Arcapita's website.
This is "what's his name" as shown on Arcaptia's website now.
Wonder if this dude's got any kids he would like to take to Small Smiles for some Dental Care?
Here is the press release where Arcapita admits it's in with "existing management"
1-15-2007
ARCAPITA COMPLETES LARGEST US CORPORATE TRANSACTION
MANAMA (January 15, 2007) - Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, announced today that it and its affiliates, together with existing management, have acquired Sanus Holdings, LLC, operating as FORBA, a leading dental practice management company that focuses on providing dental care to underprivileged children in the United States.
Headquartered in Tennessee, FORBA manages the operations of 50 dental clinics across the United States, targeted exclusively at serving the needs of children eligible for dental care benefits under Medicaid and the State Children’s Health Insurance Plan (SCHIP), which between them provide comprehensive healthcare for over 32 million children. FORBA’s innovative business model, delivering centralized buying, economies of scale and operational efficiencies, has allowed the company to build a dominant position in its market, and according to management, during 2006 FORBA had 3 times more patient visits than its nearest competitor. FORBA’s projected revenues for 2006 are $142.2 million.
Commenting on the transaction, Atif Abdulmalik, CEO of Arcapita, said: “We believe FORBA’s experienced management team, with in-depth knowledge of the Medicaid healthcare sector, is well placed to continue the company’s growth strategy which has resulted in the company’s revenues growing at a compound rate of more than 40 per cent over the past 6 years.”
The acquisition was overseen from Arcapita’s US office in Atlanta. Charles Ogburn, head of Global Corporate Investment, commented, “We expect FORBA’s growth to remain robust, as management rolls out their proven strategy of opening and developing new clinics, with an expectation of opening at least 12 to 18 clinics per year over the next five years. FORBA is the leader in an underserved market, where only 25% of a total possible market of almost 40 million customers is currently being addressed. The company has a proven business model of building large, efficiently managed clinics that operate profitably in the Medicaid/SCHIP environment.”
This acquisition is Arcapita’s largest US corporate acquisition and joins other recent transactions such as the $4.2 billion acquisition of Viridian Group plc, the Northern Ireland electricity utility and the €620 million acquisition of Paroc Group, the leading manufacturer of insulation products headquartered in Finland.