National Dentex Announces Retirement of Dave Brown and Appointment of Steven Casper as New CEO
National Dentex Announces Retirement of Dave Brown and Appointment of Steven Casper as New CEO
National Dentex Corporation announced today that Chief Executive Officer David L. Brown has retired from the Company, and that its board of directors has appointed Steven E. Casper the Chief Executive Officer, effective September 30, 2010.
“Our achievements are due to the support of our employees, customers and investors, and I would like to take this opportunity to thank them”
The Board of Directors truly appreciates Mr. Brown’s dedication to the Company’s mission during his tenure. Throughout his 26 years of service he has been instrumental in helping to successfully guide National Dentex through dramatic changes. Dave’s contributions have been integral in building National Dentex into one of the largest owner/operators of dental laboratories in North America.
“Our achievements are due to the support of our employees, customers and investors, and I would like to take this opportunity to thank them,” said Brown. “This is the appropriate time to turn over leadership of the Company to Steven Casper, our new CEO. Steve is an outstanding choice and has my enthusiastic support.” Mr. Brown will continue to serve on the Company’s Board of Directors.
In July of 2010 National Dentex Corporation, was acquired by GeoDigm Corporation, a Minnesota based portfolio company of Welsh, Carson, Anderson & Stowe (“Welsh Carson”). In August of 2010 Mr. Casper was appointed the President and Chief Executive Officer of GeoDigm Corporation. Pursuant to the merger agreement between the companies, National Dentex continues as a corporation and a wholly owned subsidiary of GeoDigm.
Mr. Casper has significant experience leading and building successful health care organizations. He most recently held the position of President of Dermpath Diagnostics, the market leader in the delivery of dermatopathology services, a division of Quest Diagnostics, Inc. Prior to Quest Diagnostics, he was a senior executive with AmeriPath, Inc. and Dermpath Diagnostics, portfolio companies of Welsh Carson and was instrumental in their founding and development. In 2007, AmeriPath, Inc. and Dermpath Diagnostics were sold to Quest Diagnostics for $2.0 billion. Earlier in his career, Mr. Casper worked for Summit Partners, a leading private equity firm, as an investment professional focused on opportunities in technology and health care.
Mr. Casper commented: “It is an honor to follow Dave Brown as Chief Executive Officer. I look forward to working with the members of the entire National Dentex team to enhance the delivery of dental laboratory services to referring physicians and their patients. The changes taking place within the dental laboratory industry makes this an exciting time to join National Dentex. The focus of our team will be on advancing the dental laboratory industry and creating value for our clients and their patients; through the quality and consistency of our products and services, operational excellence in our laboratories, the introduction of advanced technology, and of course by having the most experienced, passionate, and customer focused team of technical dental laboratory personnel in the industry.” Mr. Casper will also serve on the Company’s Board of Directors.
About National Dentex
National Dentex Corporation serves an active customer base of over 30,000 dentists through 47 dental laboratories located in 29 states and one Canadian province. National Dentex’s dental laboratories provide a full range of custom-made dental prosthetic appliances, including dentures, crowns, and fixed bridges, and other dental specialties.
About GeoDigm
GeoDigm, based in Chanhassen, Minnesota, is a leading innovator in dental and orthodontic imaging and manufacturing technology. GeoDigm deploys its proprietary, digitally-enabled production system exclusively through its wholly owned subsidiary, National Dentex Corporation’s laboratories.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is one of the largest and most successful private equity investment firms in the United States. Since its founding in 1979, Welsh, Carson, Anderson & Stowe has organized 15 limited partnerships with total capital of $20 billion. Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries: information/business services and healthcare. Welsh, Carson, Anderson & Stowe is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P., and a dedicated subordinated debt fund, WCAS Capital Partners IV, L.P. Additional information is available online at www.welshcarson.com.
