United Dental Corporation (UDC), whose dental partnership organization (DPO) model has had a 98% retention rate in Australia, New Zealand and Canada, is breaking new ground in the U.S. with its maiden acquisition of seven high-performing dental practices in three targeted markets across the United States: Georgia, Arizona and California.
UDC pioneered its business model in Australia and New Zealand, where Dr. Ray Khouri launched and then sold Dental Corp. to Bupa Dental Corp. – now the largest dental network in both countries – for $600 million 2013.
UDC’s first wave of practices in the United States features a mix of specialty and general practice dentists. The practices included in the initial launch were selected to provide specific platform-level specialty and operations support to subsequent waves of acquisitions in UDC’s pipeline. UDC anticipates closing its second and third tranches of practices by March 2023.
UDC Chairman and Co-Founder Dr. Ray Khouri said, “Today’s announcement highlights the strength of our differentiated business model, which has historically resulted in up to a 98% doctor retention rate in Australia and New Zealand. We are delighted to partner with the successful owner-dentists who have placed their trust in UDC. We look forward to rapidly scaling UDC as it becomes the premier destination and partner for exceptional dental practices.”
The company is focused on the top 10% to 20% best-performing doctors in their fields who generate $2 million to $50 million or more in revenue.
Equity funding for the recent US growth was led by Doshi Capital Partners (DCP), the family office of Drs. Nitin and Leena Doshi. Dr. Nitin Doshi commented, “We are thrilled to support Ray and the UDC team. UDC’s model is unique to the DSO space, particularly its innovative and proven approach that attracts entrepreneurial dentists, enabling them to achieve even greater success while maintaining their autonomy. Given my experience as both an operator and investor across the dental industry, I look forward to my partnership with UDC as an engaged and active Board member and investor.”
White Oak Healthcare Finance LLC provided the debt financing for the acquisition.
High Speed Ventures, under the leadership of Dr. Forrest Bryant, bolstered UDC’s launch by investing in two rounds of funding from the dentists and individual investors that are clients of High Speed Alliance. HSV’s total investment of over $5MM to date, underscores their support of Dr. Ray Khouri’s leadership and the industry disrupting UDC team and business model.
Financial terms of the transaction were not disclosed.
UDC partners with high-performing dentists seeking to maximize the value of their practices while retaining their operational autonomy. UDC supports dentists by providing capital, growth expertise, advanced data and analytics, technology, marketing, procurement, human resources, legal, insightful financial reporting, and accounting services. Visit us at www.udc.dental.
About Doshi Capital Partners
Doshi Capital Partners is the family office of Drs Nitin and Leena Doshi. DCP and its affiliates have led and participated in equity and debt investments across a number of industries including dental, medical, real estate, technology, chemicals, and industrial businesses.
About White Oak Global Advisors
White Oak Global Advisors, LLC (WOGA) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers.
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