<PAGE>
EXHIBIT 99.1
[INVESTOR RELATIONS LETTERHEAD]
InterDent Inc. (ticker: DENT, exchange: NASDAQ) News Release -- Friday, June
16, 2000
-----------------------------------------------------------------------------
INTERDENT, INC. COMPLETES $36.5 MILLION FINANCING
EL SEGUNDO, Calif.--(BUSINESS WIRE)--June 16, 2000--InterDent, Inc.
(Nasdaq:DENT) today announced it has completed its previously announced
financing, with Levine Leichtman Capital Partners, a private investment fund
based in Beverly Hills, Calif.
The Company raised approximately $36.5 million from the sale of senior
subordinated notes, common stock and warrants.
Michael Fiore, Co-Chairman and Chief Executive Officer of InterDent stated,
"The completion of this financing is the first step in our plan to obtain
additional capital, strengthen our balance sheet, and execute our growth
strategy. In the current environment, we are able to identify attractive
acquisition targets, including companies with multiple practices and
individual practices, at favorable pricing arrangements. Our financing
initiatives should enable us to finalize certain of these transactions over
the next few months."
Dr. Steven Matzkin, Co-Chairman, President and Chief Dental Officer added,
"The current market environment presents a wealth of opportunities for
InterDent. Our operating model includes a highly scalable infrastructure,
already in place, which is designed to allow for the smooth integration of
new practices. We intend to solidify our current market leading position."
Lauren Leichtman, the chief executive officer of Levine Leichtman Capital
Partners, stated that, "We are very excited about this investment
opportunity. To be able to invest capital in a market leading company owned
and managed by entrepreneurs is precisely our investment strategy."
Levine Leichtman Capital partners is a private investment firm that manages
$460 million of institutional capital through two private equity
partnerships, Levine Leichtman Capital Partners, L.P. and Levine Leichtman
Capital Partners II, L.P. Levine Leichtman Capital Partners makes non-control
investments in middle market companies (revenues $20M to $500M) headquartered
in the Western United States. The investment strategy of the firm is to
provide subordinated debt and equity capital to industry leading companies
owned and managed by entrepreneurs. Capital is provided for late stage
venture, growth and expansion financings, and in connection with acquisitions,
mergers, restructurings and recapitalizations.
With new patient revenues under management of approximately $300 million and
226 locations in 14 states, InterDent is the largest provider of dental
management services in the U.S. During 1999, InterDent added more than $70
million to annualized net patient revenues under management through
acquisitions. The Company also owns a stake in Dental X Change, the most
advanced Internet portal servicing the professional dental community. More
information about Dental X Change is available through the press releases on
their web site, www.dentalxchange.com.
InterDent's facilities are located in California, Oregon, Washington, Idaho,
Nevada, Arizona, Hawaii, Florida, Georgia, Michigan, Oklahoma, Kansas,
Pennsylvania and Indiana. The Company is continuing to expand by building a
fully integrated support environment utilizing advanced information
technologies to enable dental professionals to provide patients with high
quality, comprehensive, convenient and cost-effective care.
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of The Private Securities Litigation Reform Act
of 1995. The forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from the forward-
<PAGE>
looking statements. Those risks and uncertainties include InterDent's ability
to close and absorb future acquisitions, the economic climate in the
Company's service areas, the ability of the Company to effectively implement
its Internet strategy or its planned fully integrated support environment,
potential changes in government regulation and in the dental insurance
industry, actions by competitors, Interdent's ability to consummate future
financing transactions, and other factors disclosed in the Company's filings
with the Securities and Exchange Commission. The forward-looking statements
should be considered in light of these risks and uncertainties.
CONTACT: InterDent, Inc., El Segundo
Michael Fiore, 310/765-2400
Co-Chairman and CEO
www.interdent.com
or
Lippert/Heilshorn & Associates
Lillian Armstrong, 415/433-3777
[email protected]
John Heilshorn, 212/838-3777
[email protected]
