Aligned Dental Partners (ADP), a consulting and advisory firm to emerging dental groups and DSOs, has just formed PiP Pediatrics and Orthodontics, a merger of four dental groups in Washington and Oregon. The new company was formed with seven founding partners and is being led by Dr. J. Kyle House as its CEO. The new doctor-owned, doctor-led company will operate 12 dental practices and provide pediatric and orthodontic services in the markets they currently serve. The group is capitalized and poised to grow strategically in both Washington and Oregon.
Dr. Cody Mast, PiP’s President, mastermind and driving force to the formation of this group, sought to find an alternative answer to seek the benefits, synergies and valuations of a dental support organization (DSO) while staying private, doctor-owned and doctor-led. The formation of this dental group is yet another alternative answer to the changes the dental industry is facing with consolidation.
“We chose ADP upon recommendation because we realized our approach wasn’t working. Prior to bringing on ADP, we had spent 18 months and a large amount of money with great intentions but poor execution simply because we didn’t know what we didn’t know. ADP was integral in forcing us to, as Dr. Alex Giannini likes to say, “back the truck up” to get the fundamentals in place before we headed down the wrong path and spend more money in areas that weren’t effective in building a true DSO. I have no doubt their systematic approach helped us identify the necessary ingredients and match those with a schedule of responsibilities and deadlines that pushed us toward success. We were able to see the project through not only under budget but faster than where we would have otherwise been going it alone. It’s still early in our formation, but so far I do think it was a good choice and I’d do it again knowing what I know now. I just might start with them earlier to save time, money and frustration.” -Dr. Cody Mast, President, PiP
PiP initially conceptualized becoming a dental support organization in 2016. It took several years of careful and deliberate planning, assembling the right doctor partners, locations, and personnel. In late 2018 the company’s momentum had briefly stalled and they were searching for an advisor to help get the company launched. Aligned Dental Partners was brought in to provide strategic advisory and guidance to launch the company and build their operating platform. On July 1, 2019, the group’s vision became a reality and officially emerged as Pip Pediatrics and Orthodontics (PiP).
“Pre-merger, each of the respective companies had strong historical performance both financially and operationally, yet had their own individual strengths and opportunities from a management perspective. This unique consolidation of founder/owner doctors allowed for leaders to emerge based on areas in which they individually excelled. The newly formed company’s executive team is almost entirely organic to the legacy companies, with founding members each fulfilling a different managerial role based on their strengths, from middle management all the way up to CEO. -Chris McClure, Chief Operating Officer, Aligned Dental Partners
The name “Pip” means the small seed of a fruit. The founders thought it was the perfect symbol of the focus in the work that they do; they concentrate on the child as an individual and partner with parents in helping them to get a great start in oral care and in learning good lifelong habits.
PiP, based in Seattle, WA has now invested in 12 dental offices and provides support services to the affiliated practices in Washington and Oregon. The company will offer operational and management support to the affiliated dental practices in all non-clinical aspects of dentistry including staffing, human resources, patient scheduling, billing and collections, financial reporting and analysis, and marketing among other support functions.
“The founders of this group were aligned philosophically. Pulling them together into one group afforded them the ability to improve profitability at each office, grow by adding services, take advantage of synergies and dramatically increasing their ownership value.” -Dr. Alex Giannini, Chief Strategy Officer, Aligned Dental Partners
ADP works exclusively with emerging DSOs, group practices, and entrepreneurial dentists. Practitioners work with ADP to develop their platform, increase EBITDA, and grow their company’s value. ADP helps dental companies centralize their non-clinical functions and supports their management teams, allowing dentists and specialists to focus on patient care.
Aligned Dental Partners’ leadership team has successfully worked with 1,000s of practices, groups, and DSOs throughout North America in both management and consulting capacities. ADP’s team has been supporting the business of dentistry for over 30 years and has successfully built, operated, and transitioned dentist-owned and dentist-led groups to accomplish their goals while achieving premium valuations.