How Private Equity Is Buying Up Independent Dental Practices

Episode notes

Private equity has quietly consolidated the dental industry over the past decade. Today, Lucas and Luna examine how dental support organizations (DSOs) backed by PE firms now control roughly 15% of U.S. dental practices. They break down the economics of a typical roll-up: a PE firm acquires a regional DSO, then uses debt to buy individual dentist offices at 4-6x EBITDA, centralizes back-office functions, and pushes for higher-margin procedures. The hosts discuss the tension between efficiency gains and patient care, citing the departure of Heartland Dental's CEO in 2025 amid quality concerns. Specific numbers include $8 billion in total PE investment in dental since 2015 and the typical dentist's exit multiple of 6-8x. A concrete look inside a hot roll-up sector. #PrivateEquity #DentalPractices #DSO #RollUp #HealthcarePrivateEquity #HeartlandDental #DentalConsolidation #Business #Finance #HealthcareBusiness #MergersAndAcquisitions #PEBackedDSO #DentalEconomics #IndependentDentist #EBITDA #FexingoBusiness #BusinessPodcast #TheBuyoutShow Keep every episode free: buymeacoffee.com/fexingo

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