Brown looks to Green to keep National Dentex in the black

December 17, 2009 by MassDevice staff

National Dentex Corp. is promoting from within, tapping CEO David Brown as chairman and lifting Josh Green to COO.

Green will eventually become the new Brown at National Dentex Corp. (NSDQ:NADX), as part of the company's transition and succession plan announced Wednesday.

The Natick, Mass.-based crown, bridge and other dental reconstructive tools maker is adding chairman to CEO David Brown's responsibilities, while grooming Josh Green to be his eventual successor, according to a securities filing.

As part of the title shuffle at Dentex, Brown is handing off his job as president to Green, who also will become COO. Longtime chairman David Harkins, 68, will stay on the board as lead independent director, a newly created position.

The changes take effect Jan. 1, 2010.

Green, 56, joined when Dentex acquired his Green Dental Laboratories in Heber Springs, Ark., for $22.5 million in March, 2005. He was named executive vice president of laboratory operations in January, 2007.

Through the first nine months of 2009, the company boosted its net profit to $5.4 million, up 22.7 percent from $4.4 million during the first three quarters of 2008. The gain came despite a 5.6 percent dip in revenues, which fell to $123 million from last year's $130.4 million, which the company blamed largely on consumers postponing dental work to pay other bills in a tough economy.

Both Brown, 68, and Harkins have been with National Dentex since its 1984 launch, growing the company through acquisitions as they built the six facilities spun out from Healthco Inc. into 44 labs in 30 states and one Canadian province.