National Health Care Sells 2 Dental Practices
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National Health Care Systems Inc. said it has sold two dental practices for $700,000 in cash and notes to the dentists who have operated the offices for the company since their acquisition in 1983.
The Irvine dental health maintenance organization said the sale of the two practices will result in an extraordinary gain of about $250,000 when it reports its 1986 results.
The practices--located in Riverside and Colton--were purchased in 1983 for $1.96 million in cash and stock from William Hornbaker, who until last May was National Health’s president, said Joe Shurgot, chief financial officer.
Shurgot said National Health sold the practices in order to get out of providing direct health care services. Instead, he said, the company will concentrate on administering its prepaid dental plans, which have about 65,000 members in Southern California and North Dakota.
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