Q3-2021 Dental Services Update
The dental services market remained highly-active in Q3-2021, with additional successful investor exits and continued specialty transaction activity. In August 2021, three investor-backed dental platforms completed transactions to new investors – Dental365, DECA Dental, and Affordable Care. All three transactions generated strong returns for the exiting investors and dentist-owners, further substantiating the attractive valuation environment for professionalized, scaled, and growing platforms and investors’ interest in the dental services industry.
Large DSO transactions are expected to continue in the near-term at similar valuation multiples, which will drive increased interest from investors looking to partner with dentist-led DSOs and participate in the dental services market. In July, HealthEdge Investment Partners acquired Today’s Dental Network to form a new DSO platform, and other recently-formed platform proved their ability to execute on additional acquisitions.
Provident has also noted an increased focus on specialty care, highlighted by multiple oral surgery, endodontics, orthodontics, prosthodontics, and mobile/onsite transactions, led by both new investors and established DSOs.
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