An agreement in principle has been reached between Dr. James Pride's family and the management team of Pride Institute to transfer ownership of the company to the team before year end. Dr. Pride had been the sole owner of the 30-year old dental practice management firm until the time of his death on August 11. The management team of CEO Amy Morgan, CFO Harriola McFeely, and Director of Operations Geoff Morgan, all long-time Pride employees, had been operating the company since before the onset of his illness three years ago.
"I'm very pleased with the transition plans," said Carolyn Pride, Dr. Pride's widow. "In spirit, the transition to this capable management team took place two-and-one-half years ago, and now we are just wrapping up the mechanics. Jim had complete confidence in Pride's team and wanted them to continue to help enhance the practices and lives of dentists through the good work of the Institute. Providing vital educational and consulting services to dentists truly was Jim's passion."
"This management team really deserves to own Pride Institute," said Suzanne Pride Bryan, Dr. Pride's daughter and the former Vice President of Marketing of the Institute. "Amy, Harriola, and Geoff are like members of our family. They have had key leadership roles in the company for many years. During my father's illness, they not only continued to conduct business as usual, but they enhanced curriculum and programs, grew the company, and improved profits, as well."
"We're very excited to be finalizing the transition plans that we had been working on with Dr. Pride," said CEO Amy Morgan. "We will continue to spread his sound practice management principles developed over 40 years in dentistry and his values, as well as to expand the company with new programs, alliances, and enhanced curriculum."
The Institute's 2005 calendar of seminars will be available shortly, offering a full roster of 37 continuing education opportunities for dentists and dental teams. The company's acclaimed two-year management training program, transition services division, university curriculum, and other programs also will continue to evolve and expand. Located just north of San Francisco, Pride Institute employs 24 full- and part-time employees and seven adjunct trainer dentists.
In the past three years, based on its successful program at the University of the Pacific School of Dentistry, Pride Institute has begun teaching practice management for dental students at Marquette University School of Dentistry and Indiana University School of Dentistry. Its publishing division also has launched a new product, "Take Pride in What You Pay," a four-module series of CDs and handbooks that is a comprehensive guide to staff compensation. In its ongoing efforts to provide a full range of services and expertise to dentists, the Institute continues its close relationship with Hufford Financial Advisors and is developing a new alliance with Practice Builders.