DSO Spotlight
SPG Dental Implant Centers, a nationwide provider of dental implant services, announced that it has closed on a new financing package with KeyBank National Association to support the company’s continued expansion and operations.
The financing package includes the refinancing of existing debt, a committed revolving credit facility and dedicated equipment financing. According to SPG Dental, the refinancing secured improved terms and a lower cost of capital, enhancing cash flow and strengthening the company’s balance sheet. The revolving line of credit provides additional liquidity to support working capital needs and future center expansion, while the equipment financing will support continued investment in advanced implant and diagnostic technology.
For SPG Dental, the new KeyBank relationship represents more than a balance sheet improvement. It gives the company greater ability to pursue both external and internal expansion, including expansion into high-impact markets, investments in new technology and the buildout of additional physical clinic capacity.
“We’ll be able to more flexibly and more nimbly pursue not only external growth opportunities into high-impact markets that we’ve identified, but also internal growth initiatives by investing in new technology and in growing physical clinic capacity.” — Dr. Alex Sharp, CEO, SPG Dental Implant Centers
Dr. Sharp described the new facility as a “grown-up” arrangement that companies earlier in their development typically do not qualify for. He said the structure will allow SPG Dental to focus on both consistent same-store improvement and expansion into new markets.
Inside SPG’s De Novo Model
That dual focus is important as SPG Dental continues to grow as a de novo platform. Unlike acquisition-heavy dental service organizations, SPG Dental’s model centers on building practices around a consistent operating playbook, clinical philosophy and full-arch fixed dentistry platform.
The revolving credit facility is also expected to help SPG Dental plan new practice openings with greater predictability. Dr. Sharp said the additional financial flexibility allows the company to map expansion further into the future and improve what it can deliver to doctors, teams and patients.
“KeyBank’s flexibility and consistency allow us to confidently plan for the future, which increases the quality of what we can deliver for our SPG Docs, teams and patients.” — Dr. Alex Sharp, CEO, SPG Dental Implant Centers
SPG Dental also plans to continue investing heavily in technology. Dr. Sharp said the organization is focused on equipping its doctors with cutting-edge tools that elevate clinical excellence, improve the doctor experience and enhance patient care.
“We unapologetically invest in providing our SPG Docs with the latest cutting-edge technology, which directly increases our level of clinical excellence, our SPG Docs’ experience working with SPG, and the caliber of patient care we provide,” Dr. Sharp said.
George Hausler, Senior Relationship Manager in Key Commercial Bank’s Healthcare Group, said SPG Dental has built a scalable platform within the dental implant sector.
“SPG Dental has built a strong, scalable platform in the dental implant sector, supported by a clear growth strategy and commitment to clinical excellence,” Hausler said. “We’re pleased to provide a financing solution that enhances their flexibility and supports their continued expansion.”
The financing comes as the broader DSO sector continues to evolve after years of rapid consolidation. Dr. Sharp said many DSOs are now facing challenges tied to overpaying for acquisitions and failing to fully integrate practices into a consistent operating model.
In contrast, Sharp said SPG Dental benefits from being dentist-founded, dentist-led and built around a de novo strategy.
“At SPG, we align ourselves around a simple precept: we aim to maximize our impact,” Sharp said. “Being dentist-founded and dentist-led, we care about the future of our noble profession. We win through being different. We go where others won’t to treat the patients who’ve been dentally disenfranchised. We give our patients their lives back through the power of full-arch fixed dentistry.”
About SPG
Shared Practices Group is a full-arch implant-focused DSO founded in 2021 by its founding dentist partners through the merger of their existing practices.
The organization launched with 10 dental practices and has since grown to nearly 50 locations in 26 states. SPG originated as an offshoot of the Shared Practices podcast, Full Arch Podcast, and continues to support the dental community through coaching, dentist education and seminars.
The group was also named to Group Dentistry Now’s prestigious Emerging Dental Groups to Watch list in 2023.
Key executives:
- Dr. Alex Sharp, Co-Founder & CEO
- Dr. Matt Guarino, Co-Founder & COO
- Dr. Matt Ford, Co-Founder & CDO
- Dr. Austin Davis, Co-Founder & CMO
- Dr. George Hariri, Co-Founder & Lead Partner at Shared Practices, LLC
Watch Dr. Alex Sharp on the Group Dentistry Now podcast:
