DSO Industry Mergers & Acquisitions
According to Grand View Research’s U.S. Dental Service Organization Market Report, the DSO market was valued at $26.9 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2030, reaching an estimated $76.2 billion by the end of the forecast period.
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Here is GDN’s exclusive list of DSO and emerging group M&A for May:
Guardian Dentistry Partners announced their newest partners:
- Lynn Haven Dentist, led by Dr. Derek Wall and located in Panama City, FL
- Drs. Belton & Schrimper General Dentistry, led by Dr. Hunter Perry, Rocky Mount, NC
Arkansas Dental Centers recently opened Rogers Dental Center in Rogers, AR. It’s the company’s 11th location in Arkansas. The new clinic is led by Dr. Matthew Harrison. Arkansas Dental Centers is a family-owned network, and each office operates independently. Dr. Chad Matone founded Arkansas Dental Centers in 2014.
MB2 Dental welcomed three new doctor partners and three new practices across three different states in May, bringing their 2025 total practice count to 26.
- Williams Family Dentistry in Denver, CO, Acquisition
- Dentistry at The Ten in Eugene, OR, Acquisition
- Andrew Sheng Dental in San Pedro, CA, Acquisition
The Smilist announced its affiliation with BrookBeam Dental, a 16 location Dental Partnership Organization based in New York’s Hudson Valley. BrookBeam Dental was formed as a Dental Partnership Organization (DPO) by Brett Fliegler in December 2015. The group is focused primarily in the Hudson Valley and Albany regions of New York. This strategic affiliation brings The Smilist’s total footprint to over 100 locations in the Northeast. The Smilist was founded in 2014 and now supports over 1,700 employees in seven states. The DSO also recently announced the appointment of Axel Lapica as its new Chief Executive Officer.
Trivest Partners and Vibrant Equity have formed dentist-founded True North Dental Partnership Organization. True North begins with an initial group of eight dental practices located across Ontario, Canada. True North is based in Toronto as is Vibrant Equity. Dr. Miyen Kwek is the Chief Clinical Officer. He is also the Co-Founder of Dentistree Academy.
Specialty Smile Partners, a management services organization supporting the orthodontics and pediatric dentistry sectors, announced the acquisition of Little Gators Pediatric Dentistry. Little Gators is led by Dr. Jason Sotto and serves Winter Garden, Florida. Headquartered in Eau Claire, WI, Mark Musso is the CEO of Specialty Smile Partners.
Straine Dental Management (SDM) is elevating its California footprint with the strategic addition of Regents Dental Group to its network. The La Jolla-based practice is led by Drs. Stephen Eskeland and Stephen Lockwood.
OMS360 announced its expansion into Pennsylvania through a new partnership with Pittsburgh Oral Surgery which has four locations in Shadyside, South Hills/Bethel Park, Monroeville, and Tarentum. Pittsburgh Oral Surgery is led by Martin E. Eichner, D.D.S., Eric R. Smiga, D.M.D., Sarah D. Davies, D.D.S., M.D., Neil A. Robertson, D.M.D., and Bryce Hartman, D.D.S.
They also just announced their expansion into Central Florida through a new partnership with Winter Haven Oral Surgery. Winter Haven Oral Surgery is led by Rigo Cornejo, DMD, MD.
In conjunction with these new partnerships, OMS360 announced a growth recapitalization transaction, featuring a new credit facility provided by TPG Twin Brook Capital Partners.
Imagen Dental Partners announced the following partnerships:
- Silvera Dental Corp, led by Dr. Albert Silvera and located in Beverly Hills, California
- NW Digital Dentistry, led by Dr. Nathan Wong and located in San Luis Obispo, California
Heartland Dental affiliated with three practices:
- London Bridge Smiles (VA)
- Line Creek Dental Care (GA)
- Davie Dental (FL)
Heartland Dental also opened seven new de novo offices across five states:
- Cardinal Dental Care (TX)
- Dental Care at Wellen Park and Dental Care at Plantation Square (FL)
- Dental Care at Chancellor Crossing (VA)
- Unbridled Dental Care (KY)
- Brighton Park Dental Care (SC)
U.S. Oral Surgery Management (USOSM) announced new partnerships with two practices: Sierra Foothills Oral & Maxillofacial Surgery in California and Shenandoah Oral & Facial Surgery in Virginia.
Sierra Foothills Oral & Maxillofacial Surgery operates four locations in the Sacramento area—Roseville, Auburn, Folsom, and Natomas—and is staffed by three board-certified oral and maxillofacial surgeons: Brian C. Harris, DDS, MD; Wes L. Hill, DDS, MD; and Brandon Christensen, DMD.
Shenandoah Oral & Facial Surgery, led by Aaron E. Quitmeyer, DDS, is based in Harrisonburg, located in Virginia’s Shenandoah Valley region.
PDS Health added two new dental practices in May. The integrated healthcare support organization added a total of 63 practices in 2024, demonstrating steady growth and continued expansion. PDS Health now supports more than 1,000 offices in 24 states.
- Dentists of Maitland in Maitland, Florida.
- Santa Fe Springs Modern Dentistry in Santa Fe Springs, California.
The DSO recently acquired properties in the Arlington and Southside areas of Jacksonville, Florida, through LLCs. A city permit was issued for the tenant build-out of a PDS Health dental office in Regency Park Shopping Center. The 3,806-square-foot space will be converted into a dental clinic with 14 exam rooms. This location is one of at least three properties leased for PDS Health. In addition, PDS Health will lease two more properties in Jacksonville that were purchased by the Nevada-based company. The initiative is led by Covenant Real Estate Group. Stephen E. Thorne IV, founder of PDS Health, also serves as the founder, president, and CEO of Covenant Real Estate Group.
Dental365 announced the following acquisitions:
- Kaiser, Rosen & Kurman, which is located in Philadelphia, PA
- Nashua Dental Associates, which is located in Nashua, NH
- Stiles Family Dentistry, which is located in Salem, NH
- Dentistry By Design, which is located in Andover, MA
Orthodontic Experts opened a new location in Greenfield Indiana at the end of May. This marks the group’s 30th location and the first out of the three Indianapolis area locations planned for this year. Orthodontic Experts is a doctor-owned OSO founded in 2013 by Dr. Yaroslav Yarmolyuk, and operating orthodontic clinics in Illinois, Wisconsin, and Indiana.
Silver Creek Dental Partners affiliated with Dr. Karina Gregg and her team at San Elijo Dental, which is located in San Marcos, CA. Silver Creek Dental Partners is a non-branded boutique Dental Support Organization (DSO) providing management services to general dentistry practices throughout California. This acquisition brings their total to 12 supported locations.
Rock Dental Brands welcomed:
- Cabot Children’s Dentistry, led by Dr. Ashley Fields and Dr. Jordan Marsh
- Fields Family Dentistry, led by Dr. Patrick Fields, Cabot, Arkansas
- Helena, MT: Led by managing clinical director, Trevor Given, DMD.
- Wichita, KS: Led by practice owner Breanna Wiles, DDS.
- Garner, NC: Led by practice owner Mohammad Spouh, DDS, and managing clinical director Kristen Fields, DDS.
ClearChoice Dental Implant Centers:
- ClearChoice Dental Implant Centers welcomed the 106th center in its network in East Lansing, MI. The new center will be led by Prosthodontist Hasan Al Yousef, DDS, MS who is also an Adjunct Clinical Supervisor at the University of Michigan School of Dentistry.
dentalcorp reported on their first quarter 2025 results. Robust revenue growth and continued margin expansion maintain track record of double-digit growth in adjusted EBITDA and adjusted Free Cash Flow per Share. Highlights include:
- Revenue of $409.4 million, an increase of 9.9% from the first quarter of 2024, with Same Practice Revenue Growth (“SPRG”) of 4.6%.
- Adjusted EBITDA of $75.9 million, an increase of 11.5% compared to the same period in 2024; Adjusted EBITDA Margin of 18.5%, an increase of 20 basis points over the same period in 2024.
- Adjusted Free Cash Flow and Adjusted Free Cash Flow per Share of $44.3 million and $0.22, an increase of 25.9% and 15.8%, respectively, over the same period in 2024; Adjusted Net Income of $20.7 million.
Oakpoint’s Nu Image Surgical expanded into Durham, NC. This marks Nu Image Surgical’s seventh location. Oakpoint is headquartered in Raleigh, NC and was founded in 2019. It currently serves a network of practices in North Carolina and across the Southeast region.
Singapore-based Royce Dental Group acquired Eastwood Dentalcare. This brings the total of locations to five. All practices are in Singapore. The dental group is led by Kok Beng Yeo.
Dr Joy Dental Clinic added another location to its Dubai-based dental group. The group was founded 20 years ago by Dr. Joy Antony, employing 85+ dentists, and has 14 locations in Palm Jumeirah, Umm Suqeim, Jumeirah, Beach Road (Jumeirah), Dubai Marina, JVC, Dubai Hills Mall, BurJuman, Mirdif Sport Society Mall, Mirdif, and now Jumeirah Golf Estates.
Phase 1 Equity, a doctor-owned, doctor-led, and doctor-governed platform for orthodontists and pediatric dentists, welcomed an undisclosed multi-site and multi-doctor orthodontic practice based in Tennessee to its growing network.
Qualitas Dental Partners announced the addition of an undisclosed general dental practice in South County, Rhode Island to its network.
The DSO Deal RoundUp is sponsored by TUSK Practice Sales, the premier M&A Advisor for healthcare practices looking to maximize their value in a sale. With an in-depth understanding of the marketplace, collective experience of over 125+ years, and access to hundreds of buyers nationwide, TUSK helps their clients confidently pursue M&A transactions that maximize their long-term value. They offer their clients solutions that help them achieve their strategic and financial objectives. If you’re interested in knowing the true value of your practice, click here for a complimentary practice valuation.