INSIGHT

Q3-2018 Dental Services Update

Following a strong second quarter within the dental services sector, during the third quarter, consolidation activity remained elevated. The transaction activity during the third quarter was largely driven by strategic consolidators like North American Dental and CORDENTAL increasing their geographic density, each completing two and three add-on acquisitions respectively. Two new private equity platform transactions occurred as well. Granite Bridge Partners completed a recapitalization of Smiles Services, a DSO with 16 affiliated offices in Washington and Oregon. Leveraging the resources of Granite Bridge, Smiles Services will begin to aggressively grow throughout the Pacific Northwest marketplace. Senior Dental Care, a provider of dental services to long-term care facilities, announced its partnership with Serent Capital. The platform is expected to expand its base of operations within Florida and Kansas through the transaction. The strong third quarter of M&A points to continued consolidation and investment throughout the remainder of 2018 in the dental services sector.

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.
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