>DES MOINES, Iowa--(BUSINESS WIRE)--Aug. 13, 2012--The Principal Financial Group®, a global investment management and employee benefits leader, announces a strategic agreement to acquireFirst Dental Health. Upon closing, expected in October 2012,First Dental Health will become a member of the Principal Financial Group.
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
, 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 preventive care.
“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 existing customers.”
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 management2and 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.
2As of June 30, 2012.
Source: The Principal Financial Group
The Principal Financial Group
Sonja R. Sorrel, 515-362-2431
John Egan, 515-235-9500