After adding more than 150 offices to its network in 2020, Heartland Dental said that it has ambitious plans for further group practice affiliation opportunities across the nation in 2021.
According to the company, this expansion will include de novo and single offices as well as group practices and regional dental support organizations (DSOs). Heartland Dental further said that it is working with owner doctors as well as brokers, investment bankers, and financial advisors in making these partnerships.
Heartland Dental now supports more than 1,800 dentists in more than 1,150 offices in 38 states, with 2020 milestones including:
- Tru Family Dental in Illinois and Michigan, including 23 supported offices
- Mosaic Dental in Minneapolis, Minnestoa, adding four supported offices
- Forum Dental in Missouri, which included six supported offices in the state
- Research Triangle Dental in Durham, North Carolina
Several of these and other opportunities were referred to Heartland Dental by intermediaries, Heartland Dental said.
“Based on our success in selling dental practices, we knew Heartland Dental’s strong culture, doctor-led approach, and deep experience affiliating with private practices was ideally aligned with our client’s specific transition needs,” said Ryan Buckley, partner at Livingston, which advised Research Triangle Dental on its recent affiliation with Heartland Dental.
“Within 65 days from first contact to closing, Heartland’s affiliation team provided a solid valuation of both the non-clinical and clinical assets, developed rapport with RT Dental’s providers and employees, and executed an efficient, non-disruptive diligence investigation. Our client was proud to have completed a transaction with the industry’s largest DSO,” Buckley said.
“Our doctor-led culture and full range of support positions us as the leading transition solution for successful dental practice owners,” said Mark Greenstein, executive vice president and chief growth officer for Heartland Dental.
“We’re finding one of the biggest pain points for doctors and group owners is growing infrastructure to scale, namely day-to-day operational challenges such as talent acquisition, employee management, clinical education offerings, and marketing services,” Greenstein said.
“For over 20 years, Heartland Dental has invested in developing world-class capabilities in these areas and is the best option for dentists and sellers to realize the full value of their work while providing growth opportunities to their associates and teams,” Greenstein said.
“Our business model provides all supported doctors an opportunity to not only gain immediate relief from their day to day non-clinical administrative burdens, but also the ability to utilize our proven systems and processes so they can deliver exceptional oral care to their patients and maximize their own clinical and economic growth now and into the future,” he said.
“We were attracted to Heartland Dental because of its commitment to our dental team and to continuing our 30-year mission of community service,” said Dr. John Mittelsteadt of Mosaic Dental. “Affiliating with Heartland has also brought us standout advantages including expanded benefits and enhanced continuing education and leadership opportunities for supported doctors and teams.”