DSO Deal Roundup – January 2022

Our DSO Deal Roundup keeps you up to date on the latest DSO deal activity and includes an exclusive synopsis.  January 2022 activity has certainly not disappointed as DSO growth has started off with a bang!

January 2022

Emerging Dental Group to Watch in 2022, Oakpoint, Partners with Another Emerging Dental Group
Oakpoint has recently announced that Royal Oak Dental Group, with seven North Carolina locations, has joined the emerging dental group.  Founded by Mick Janness and Erik Strang, the group’s goals for 2022 is $100 million of affiliated practice revenue and 10+ newly affiliated practices. PE-backed, Oakpoint’s long term growth plan for the next five+ years is to support 150 doctors and clinical teams across an integrated platform.  Learn more about the group HERE.

Spark Dental Management Announces Acquisition of Children’s Dental Management
Spark Dental Management is back by Rock Mountain Captial, and it has acquired Children’s Dental Management (CDM) and its 35 locations in three states. This acquisition expands Spark’s footprint to 74 locations in seven states. Dr. Jason Hartman, founder of Spark Orthodontics, was named President and Michael O’Donnell, CEO of CDM, was appointed CEO. In the fourth quarter of 2021 Spark closed on five other acquisitions. Spark was founded as Spark Orthodontics in 2010 by Jason M. Hartman, D.M.D., M.S.

Southern Orthodontic Partners Partners with Hess Orthodontics
Dr. Michael Hess of Hess Orthodontics is the specialty DSO’s newest partner. Hess Orthodontics was created in 2004 and is comprised of five locations throughout the greater Tampa, Florida area – Riverview, Lithia, Apollo Beach, Parrish, & Sarasota. Dr. Hess will join the SOP Board as their fifth board doctor. Based in Nashville, TN, SOP is led by John Nelson, CEO, and has non-branded locations throughout Texas, Missouri, Georgia, Virginia, Tennessee, and Florida.

From San Diego to San Francisco, Beacon Oral Specialists Continues to Grow Across California
Based in Dallas, TX, Beacon Oral Specialists is an oral surgery management services organization which was founded in 2020. They have just announced their latest partnership with Dr. John Tillner of Chula Vista Oral & Maxillofacial Surgery Center. Dr. Tillner has served the San Diego community since 2009. Beacon’s affiliated practices include providers like Bay Area OSM, Atlanta Oral & Facial Surgery, Fairfax Oral & Maxillofacial Surgery, Orange County Centers for Oral Surgery and Dental Implants, and Desert Oral Surgery with more coming soon.

Gen4 Dental Partners Acquires Accelerate Dental, Harris Dental and Smile One Services.
Gen4 Dental Partners recently acquired Accelerate Dentistry, a growing, multi-practice platform with locations throughout Kansas, led by Dr. Marvin Heinbach, D.D.S. This partnership will further drive the Gen4 Dental Partners’ expansion in KS. Gen4 Dental Partners, headquartered in Tempe, AZ, is led by CEO Lamonte Jensen, and CCO Dr. Mitch Ellingson. Harris Dental, a nationally recognized leader in cosmetic dentistry based in Phoenix, AZ draws patients from around the country, and has been providing dental care for 40 years. Smile One Services is Michigan’s first multi-specialty dental organization out of Grand Haven, Mich. The move expands Gen4 Dental Partner’s reach into Michigan.

Guardian Dentistry Partners Ends 2021 with Monumental Growth, Doubling in Size for the Year and Adding 30 More Practices, Three New States in Fourth Quarter
When Guardian Dentistry Partners (GDP) secured more than $100 million in debt financing from Twin Brook Capital Partners this past September, it pledged the financing would help the company grow even faster. Today, that pledge rings true as GDP announced partnerships with dental practices in New York, Pennsylvania, Texas, Alabama, Michigan, North Carolina, South Carolina and Virginia. The latest announcement of new partnerships adds 30 more locations into the Guardian family and brings GDP’s total practice count to 84. The Dental Partnership Network has seen its partnerships across the country grow exponentially since its founding in 2018 and now has a commanding presence in 10 states.

The most recent partners to join the Guardian family include:

  • Drs. Art Steineker, Bubba Waters, David Lieux and Darren Dillon with their Alabama/Florida platform, Gendus Dental Partners, supporting seven practices that span from Birmingham, AL, to Panama City, FL
  • Dr. Marc Liechtung, with five practices located in the New York City area
  • Dr. Jonathan Penchas, with his Midtown Dentistry, comprising five locations in Houston
  • Drs. Raphael Goldstein and Steven Jaffe, with three offices in Novi, Dearborn and Brownstown, MI
  • Drs. David Deeb and Michael Fanning, located in Calabash, NC
  • Rhett Duleba, who has two dental practices in Columbia and Sumter, SC
  • Drs. TJ Patel, Vivek Kashyap and Jay Shukla, located in Matthews, NC
  • Dr. Eric Grimes, located in Lenoir, NC
  • Dr. Michael Rogers, located in Arlington, VA
  • Dr. David Strassman, located in Allentown, PA
  • Dr. Charles Wolfe, located in Easton, PA
  • Dr. Michael Parthum, located in Clawson, MI

Allied OMS Enters Southern California Market, Partners with Rancho Oral and Facial Surgery and Corona Oral Surgery & Implant Center
Allied OMS – a management services organization in the oral and maxillofacial surgery space – has announced that it has entered the southern California market with two new partnerships. Rancho Oral and Facial Surgery has three locations in Inland Empire and Corona Oral Surgery & Implant Center serves patients in Corona, CA. Ryan Graham is the Founder and COO of OMS.

Smile Brands Announces Two New Affiliate Partnerships: Riley Dental Group and Dr. Richard Crossland
Dr. Paul Riley and Dr. Vivek Solanki lead a team of 18 from their growing San Fernando, California location. The practice began in 1954.  Dr. Richard Crossland began his practice in 1989 and look to expand his perio program and grow his team by partnering with Smile Brands. The DSO, based in Irvine, California, is one of the largest providers of dental support services in the United States. The company supports nearly 700 affiliated practices, with more than 7,500 dedicated team members across 30 states. Smile Brands supports a portfolio of over 75 brands including well-known regional brands: Bright Now! Dental, Castle Dental, Merit Dental, Midwest Dental, Monarch Dental, and Mondovi Dental.

Marquee Dental Partners Continues to Expand its Florida Footprint with Multi-Office Acquisition
Marquee recently announced its partnership with Advanced Dental Arts and their four Tampa-area offices. With this deal, Marquee Dental furthers its expansion into the Florida market, increasing its presence there to 20 offices across 11 leading dental brands. The DSO, headquartered in Brentwood, TN and led by CEO Fred Ward, has more than 60 locations in the southeast United States: KentuckyTennesseeArkansasAlabama and Florida. The group also recently opened a new office in Smyrna, GA.

Heartland Dental Celebrates DSO Record Growth in 2021
Heartland Dental, the nation’s largest dental support organization, announced the company experienced unprecedented growth in 2021 by adding 424 new practices to its footprint across its 38 states. Through the addition of 54 de novos, 92 Affiliations and 278 office locations through its acquisition of American Dental Partners, Heartland Dental now supports more than 2,300 doctors in more than 1,550 offices representing an increase of well over 150% in supported locations over 2020. In 2022 Heartland Dental, will focus on advancing single-office affiliation growth at higher levels, while also adding group practices and regional dental support organizations (DSOs) which may offer oral care specialties. Heartland Dental also anticipates 100% growth in de novos with plans to open 107 DeNovo offices in 2022 across FloridaIdahoGeorgiaNorth CarolinaTexas, and more.

Absolute Dental Adds 5 Additional Affiliated Practices in Q4 and Concludes 2021 Growth Plan
Nevada’s largest DSO completed the acquisition of two dental practices in northern Nevada along with opening 3 new practices in southern Nevada, bringing the organization to a total of 37 affiliated dental practices throughout the state.  These five additional practices complete Absolute Dental’s 2021 defined growth plan of adding 13 additional practices throughout the year, which included a total of 6 new practices and 7 acquisitions, resulting in a 54% increase in total number of affiliated practices. Headquartered in Las Vegas, Absolute Dental is positioned to continue its growth trajectory in 2022 through additional acquisitions, new openings, existing practice expansions and maturation of all 2021 growth initiatives. Watch or listen to CEO, Dave Drzewiecki on the Group Dentistry Now Show podcast.

ApZme is excited to announce a new Dental Partnership Organization, with a focus on Dental Sleep Medicine
The initial ApZme platform is a combination of group practices with locations in Texas, Florida, and Georgia.  They plan to grow dental sleep medicine practices in conjunction with traditional dental practices. Dr. Kent Smith DDS, D-ABDSM, D-ASBA and Dr. Jeff Rodgers DMD, D-ABDSM, D-ASBA will be the as clinical directors. The group will be in 10 locations soon, with a goal of 30 locations by end of 2022, by adding partners who are focused on growing their Dental Sleep Medicine practice.

Jefferson Dental & Orthodontics Expands Dallas-Fort Worth Footprint, Opening 72nd Location in Westworth Village
Jefferson Dental & Orthodontics opened its 72nd location in Westworth Village, TX, a Fort Worth suburb. This expansion marks the 36th Jefferson office in Dallas-Fort Worth, where the brand began 55 years ago. The first Jefferson Dental office opened in 1967 in the Oak Cliff neighborhood in Dallas, Texas, and the company has expanded its presence ever since. In 2019, they became the official dentist of the Dallas Mavericks.

Great Lakes Dental Partners Continues to Expand with Beverly Smiles Family Dental Affiliation
Great Lakes Dental Partners (GLDP) has announced the addition of Beverly Smiles Family Dental to its network of affiliated practices, growing its reach in the Chicagoland area. Dr. Nixon provides dental care in the Beverly and Evergreen Park neighborhoods. GLDP, a Shore Capital Partners portfolio company, provides practice management services to 30+ partner locations.

Sage Dental Announces Grand Openings of Four New Additional Practices in Central Florida
The DSO has expanded its presence in Central Florida with the opening of four new dental offices in Saint Cloud, Winter Haven, Plant City, and Lakeland. The new Lakeland office marks Sage Dental’s 71st practice, with an additional seven practices currently in development that are set to open in the first quarter of 2022.  Sage Dental Management, LLC is based in Boca Raton, Florida. It provides support services to over 70 affiliated Sage Dental practices in Florida and Georgia.

Rock Dental Brands Announces Expansion into Kansas City Market
Rock Dental Brands announced the acquisition of 10 clinics across Arkansas and Missouri, including a new expansion into Kansas City, Mo. Headquartered in Little Rock, Rock Dental Brands now has a total of 94 supported clinics across three states. The acquisitions were completed jointly with Rock Dental Brands’ doctor-owned affiliated professional dental practices in separate transactions over recent months. Rock Dental Brands provides support to general dentists and dental specialists affiliates, including Westrock Orthodontics, Leap Kids Dental, Rock Family Dental, Impact Oral Surgery and a host of other independent brands.

dentalcorp Announces $100 Million Bought Deal Offering of Subordinate Voting Shares and Provides 2021 Business Update
Canada’s largest network of dental practices announced that it has entered into an agreement with a syndicate of underwriters, led by CIBC Capital Markets, BMO Capital Markets and TD Securities Inc., who have agreed to purchase, on a “bought deal” basis, 6,135,000 subordinate voting shares of the Company from treasury at a price of $16.30 per Share for gross proceeds to the Company of approximately $100.0 million. The DSO intends to use the net proceeds of the offering to support its acquisition program, which accelerated in the latter half of 2021 and is expected to remain strong in 2022. During 2021, dentalcorp completed 62 acquisitions, representing 67 additional locations. Based on management’s preliminary estimates, these 62 acquisitions are expected to represent more than $43 million in 2021 PF Adjusted EBITDA. They expect fourth quarter 2021 revenue to increase by approximately 20% over the same quarter in 2020.

Western Dental Opens New Offices to Serve the Southern California Communities of Highland Park and Menifee and Northridge.
Western Dental & Orthodontics, a provider of accessible and affordable oral health care, announced the opening of new offices in Highland Park and Menifee and Northridge, the latest additions to its growing Southern California network of offices. The office in Northridge is one of the most diverse communities in Southern California and home to California State University, Northridge, and Northridge Fashion Center. The Western Dental network has added 55 offices in recent months, expanding access to care to 353 locations in California, Texas, Arizona, Alabama and Nevada. Western Dental (with its supported affiliates, including Brident Dental & Orthodontics and Vital Smiles) is one of the nation’s leaders in accessible, affordable oral health care, serving approximately 3 million patient visits annually in 353 affiliated offices throughout California, Texas, Arizona, Alabama and Nevada.

Dental Care Alliance (DCA), just celebrated its 30th anniversary. Over the past 12 months, DCA opened four de novo locations and completed 18 affiliations, adding 50 offices, and entering the state of Wisconsin. DCA currently supports 370 allied practices and more than 775 dentists across 21 states. DCA’s allied practices represent all dental specialties and treat patients under more than 140 brand names. The DSO is led by Jerry Rhodes, CEO. Watch or listen to David Pegg, CDO and James Nick, CRO of DCA on the Group Dentistry Now Show.

Smile Doctors Receives Strategic Investment from Thomas H. Lee Partners
Smile Doctors, a large and fast-growing orthodontics-focused dental support organization (OSO) with more than 295 locations in 25 states, announced a strategic investment from Thomas H. Lee Partners, L.P. (THL). THL is investing alongside existing financial sponsor Linden Capital Partners in an equal partnership. Affiliated orthodontists will retain a significant ownership stake in the organization. The new partnership will support Smile Doctors’ efforts of continued growth and expanded service offerings.

Lane & Associates Opens New Location in Downtown Raleigh
For four decades, Lane & Associates has been providing dental care to patients in NC. Founded in 1980, the DSO has 39 locations and has served nearly 250,000 patients. Headquartered in Garner, NC, the group is an active participant in community activities. The group was founded and is owned by Dr. Don Lane.

US Endo Partners Grows
Based in Irving, TX, US Endo Partners has recently acquired Snow Endodontics, River Heights Endodontics and Endodontics of Greater St. Louis, West County and Arnold. Snow Endo was founded by Dr. Kendall Snow and is a partnership of endodontists in Monroe, NC.  River Heights Endodontics of Hudson, WI has also joined with Dr. Aaron Wachlarowicz, Dr. Benjamin Fravel. Endodontics of Greater St. Louis, West County and Arnold is led by Dr. Patrick Roach, Dr. Shelly Sarich, and Dr. Spencer Elmore. US Endo Partners considers themselves to be a specialty services partnership (SSP). The group is backed by investment partners. The Foundation for Endodontics, the philanthropic arm of the American Association of Endodontists, and U.S. Endo Partners are launching the Foundation for Endodontics’ & U.S. Endo Partners’ Domestic Access to Care Program. The new program will aid endodontic specialists in providing free access to important endodontic care to underserved patients within the United States.

DECA Dental Group Adds 25 Offices
DECA Dental Group, a DSO based in Dallas, TX, closed out 2021 by adding 25 offices in the month of December, further expanding their coast-to-coast national brand, Ideal Dental. Last year, DECA also reached milestones across the board in other key areas of their business. The organic growth led the company to expand their team by 61%. Their dental offices served more than 700,000 guests in 2021 including over 126,000 new guests. Entering 2022, DECA Dental Group will continue to expand their growing national footprint for the Ideal Dental brand through a combination of de novos and strategic acquisitions. DECA was founded in 2008 by DSO Influencer, Dr. Sulman Ahmed.

Investor ready to buy majority stake in largest Saudi dental chain
A Dubai-based investment company is close to buying a majority share in Saudi Arabia’s largest dental chain, according to media reports. The sale of ALMESWAK Dental Clinics, which runs around 85 clinics in 25 Saudi cities, indicates that healthcare investments in the kingdom are growing in appeal. Bloomberg reported that Gulf Islamic Investments (GII) is ready to purchase a 70% stake in ALMESWAK for around US$600 million (€530 million), citing unnamed sources familiar with the matter. The 70% stake has been owned since 2017 by private equity firm Jadwa Investment, and the remaining 30% of the shares are held by Emirati healthcare company United Eastern Medical Services. Saudi Arabia’s dental industry is undergoing a reset after a drive for “Saudization” of its dental workforce was confirmed in October last year. Saudi Arabia’s Minister of Human Resources and Social Development wants at least 60% of jobs in selected healthcare specialties, including dentistry, to be held by Saudi nationals. Effective from 11 April this year, the Nitaqat Saudization program applies to all privately operated dental clinics in the country that employ three or more dental professionals.

Affordable Care Expands
Since 1975, Affordable Dentures & Implants has served more than 7 million patients across the largest network of denture and implant service providers in the U.S. The DSO has recently celebrated the grand opening of Affordable Dentures & Implants in Maplewood, Minnesota, led by Dr. Lavanya Inampudi, Montgomery Village, Maryland and a Lynchburg, Virginia practice led by Dr. Jinghua Zhang.

P4D Welcomes Team Smile Charlotte
Located in Charlotte, NC, Smile Charlotte and its dentists, Drs. Menaker, Rodney, and Berman, join P4D. Keith Miller serves as President and Chief Operating Officer for Partnerships for Dentists. Watch the webinar recording of Cassy Tallon, Marketing Administrator of Partnerships for Dentists as she discusses aligning multi-practice marketing from the c-suite to the front desk.

Small Dental Group, Bright Choice Dental, Grows
Founded and led by Dr. Karandeep Brar, the Delaware County-based dental group has grown to five locations, including its two newest offices in Allentown, PA and Sicklerville, NJ.

 


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