DSO Closes on Eighth Practice at One Year Mark

A year ago, GDN reported that a new DSO, Mid-Atlantic Dental Partners, was launched in the city of brotherly love. [Read article here.]   Just in time to mark the company’s one year anniversary, it has closed on its eighth affiliated dental practice. The eight practices are located in Newtown Square, PA, Chadds Ford, PA, Fairless Hills, PA, Silver Spring, MD, and the eastern shore of Maryland.

In March of 2016, Mid-Atlantic had completed its initial round of financing with up to $15 million in capital commitments led by S.C. Goldman and Company, LLC and has just recently completed a refinancing and extension of its secured debt facility.  Valued at more than $112 billion, the U.S. dental care industry has consistently grown at 3.5 percent per year, driven in large measure by the aging Baby Boomer population. At the same time, approximately 45 percent of dentists nationally are over the age of 54 and looking to reduce administrative burdens while continuing to provide quality care.

Mitchell Goldman

Mid-Atlantic Dental Partners’ partnership model allows selling dentists to retain a portion of the ownership in the company and gives them the opportunity to continue to participate in the monthly earnings of the company and in the future value of the company when the dentist retires.
“The affiliation process has been a significant validation of our partnership model, enabling us to perform significantly ahead of our business plan and to project accelerated growth in 2017,” said Mitchell Goldman, CEO of Mid-Atlantic Dental Partners. “Our model is not just for the dentist who wants to find a buyer for his or her practice, but for the practicing dentist who wants to own a piece of the company and build personal wealth over time.”

In addition to the recent acquisitions, the company has announced four new additions to the management team over the last year. Suzanne Baals, R.D.H. joins Mid-Atlantic Dental Partners as Director of Operations and Hygiene; Jared Ayes joins as Director of Practice Integration; Richard Rush, DDS, joins as Director of Quality Assurance and Compliance; and Deborah Kubas, CPA, joins as Director of Finance.

Source: Business Wire, Mid-Atlantic Dental Partners