DES MOINES, Iowa--(BUSINESS WIRE)--Aug. 13, 2012--
Principal Financial Group®, a global investment
management and employee benefits leader, announces a strategic agreement
to acquire First Dental Health. Upon closing, expected in October
2012, First Dental Health will become a member of the Principal
First Dental Health, a California-based independent dental preferred
provider organization (PPO), includes more than 11,000 credentialed
dentists with locations in California, Arizona and Nevada.
“This acquisition furthers our national dental network strategy, focused
on owning and operating dental preferred provider networks,” said Deanna
Strable, senior vice president of The Principal®. “By owning
dental networks, our customers receive deeper discounts and broad access
to local dentists. First Dental Health has a strong regional presence,
which enables us to continue to enhance our dental business in
California and surrounding areas.”
The Principal operates one of the largest dental networks in the
industry, serving more than 27,000 employers across all states, plus the
District of Columbia. Principal dental products offer covered employees
and their dependents flexible, comprehensive plan designs that focus on
“We will ensure a seamless transition for our customers and business
partners with the same great service and valuable products designed to
help customers get the most out of their benefit dollars,” notes
Strable. “Through our acquisition of First Dental Health, we also gain a
discount dental product, allowing us one more way to serve new and
Closing of the transaction is subject to regulatory and other approvals.
To learn more about dental
insurance products from The Principal, visit www.principal.com.
For more news and insights from The Principal, connect with us on
Twitter at http://twitter.com/ThePrincipal.
About the Principal Financial Group
The Principal Financial
Group® (The Principal ®)1 is a global
investment management leader including retirement services, insurance
solutions and asset management. The Principal offers businesses,
individuals and institutional clients a wide range of financial products
and services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded in
1879 and a member of the FORTUNE 500®, the Principal
Financial Group has $367.1 billion in assets under management2 and
serves some 18.2 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange under the
ticker symbol PFG. For more information, visit www.principal.com.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a member
of the Principal Financial Group.
2 As of June 30, 2012.
Source: The Principal Financial Group
The Principal Financial Group
R. Sorrel, 515-362-2431
John Egan, 515-235-9500