KKR to Acquire Majority Interest in Heartland Dental

Michael W. Davis, DDS


KKR & Co will acquire a majority interest in Heartland Dental, the largest dental support organization in the United States, from the Ontario Teachers’ Pension Fund. Under the terms of the deal, the Ontario Teachers’ Pension Plan will retain “sizeable ownership” with current shareholders, Heartland founder and executive chairman Rick Workman, DMD, and Heartland CEO Patrick Bauer.

“During this process, it was important for us to find an investor that was aligned with our core values and doctor-led culture,” said Workman. “We found that alignment with Ontario Teachers and know that it will continue with KKR.”

The agreement stipulated that Heartland’s current management team, including Workman and Bauer, would remain in place. Transaction finalization and closure is expected to occur in the second quarter of 2018, after regulatory approvals. Financial terms weren’t disclosed. 

KKR & Co is traded on the NYSE (KKR). This private equity firm is in the top five companies for assets under management worldwide. Because KKR is a publicly traded company, unlike most of its competitors, it is subject to more transparency due to United States Securities and Exchange Commission rules.

Dr. Davis practices general dentistry in Santa Fe, NM. He assists as an expert witness in dental fraud and malpractice legal cases. He currently chairs the Santa Fe District Dental Society Peer-Review Committee and serves as a state dental association member to its house of delegates. He extensively writes and lectures on related matters. He may be reached at mwdavisdds@comcast.net or smilesofsantefe.com.

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