Mid-Atlantic Dental Service Holdings, operating as Mid-Atlantic Dental Partners, has secured commitments for up to USD12.5 million in growth equity led by SC Goldman and Company.
Since the company’s launch in March of 2016, Mid-Atlantic Dental Partners has performed significantly ahead of its business plan, with eight existing offices, and seven new offices in the process of closing. The additional equity will be used to expand their successful model into the South Jersey, Baltimore, and DC suburbs.
“Our unique partnership model, where selling dentists retain a portion of the ownership of the company and build personal wealth over time, has proven to be an overwhelming success,” says Mitchell Goldman, Chief Executive Officer of Mid-Atlantic Dental Partners. “In our first year we partnered with eight dental practices in Pennsylvania and Maryland, and are now looking to expand our footprint and bring this partnership model to dentists in the southern New Jersey, Baltimore, and Washington, DC communities. By the end of 2017 we anticipate 15 practice partnerships and USD20 million in run-rate revenue.”
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.
The success of Mid-Atlantic Dental is due in part to the consistent growth of the US dental care industry, driven largely by the ageing Baby Boomer population, paired with an increasing number of dentists looking to reduce practice administrative burdens. These factors have positioned Mid-Atlantic Dental’s partnership model as a win-win solution.
