By UNCLLS payday loans
Written by Dentistry Today Monday, 10 September 2012 20:50
A dental company may be sold for in excess of $1 billion.
Heartland Dental Care, one of the largest practice management companies in the country, could be sold for as much as $1.4 billion, according to sources.
The company—which Chicago-based private equity firm CHS Capital Partners has a stake in—hired investment banks Jefferies and Moelis to find a buyer. It has mostly gotten interest for other buyout firms.
Heartland Dental has roughly $120 million in annual earnings before tax, deprecation and amortization.
The auction is in the second round and the final bids will happen in roughly one month.
Effingham, Ill.-based Heartland Dental manages more than 350 dental practices in 19 states. It provides dentists with essential administrative services like personnel staffing, purchasing, financial, marketing and technology support.
The company was founded by a dentist, Rick Workman.