PHILADELPHIA--(BUSINESS WIRE)--Mid-Atlantic Dental Service Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (DSO) dedicated to improving the delivery of dental services for dentists and their patients, announced today that it has closed on its eighth affiliated dental practice, just in time to mark the company’s one year anniversary.
With its unique partnership model, Mid-Atlantic Dental Partners 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.”
Mid-Atlantic Dental Partners offers dentists a new DSO model that supports dental professionals by providing marketing, financial, practice information, and other business services so dentists can focus on delivering the highest quality care to their patients. In addition, all of our associate dentists have a significant opportunity to expand their professional skills and to be part of our path to ownership program.
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 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.
“The deep bench of dental industry expertise of our management team demonstrates the caliber of support services dental practices receive when they partner with Mid-Atlantic Dental Partners. We are enthusiastic about changing the delivery of dental care,” added Goldman.
Mid-Atlantic Dental Partners continues to seek partnerships with leading dentists in the mid-Atlantic region comprising Pennsylvania, New Jersey, Maryland and Delaware.
In March of 2016 Mid-Atlantic Dental Partners announced an initial round of financing with up to $15 million in capital commitments led by S.C. Goldman and Company, LLC and 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. These factors, coupled with relatively stable medical reimbursement rates and robust regional markets, offer an active acquisition pipeline for Mid-Atlantic Dental Partners.
About Mid-Atlantic Dental Partners
Founded in March of 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com