Dental
Dental offices, orthodontics, and dental support organizations
What PE Ownership Means for This Industry
Multiple AG investigations
PE-backed dental chains face wave of fraud and malpractice lawsuits
State attorneys general in multiple states have investigated PE-backed dental chains for recommending unnecessary procedures, particularly targeting patients with Medicaid coverage.
Source: FTC, State AGs, 2022-2024
35% fewer rural practices
Dental consolidation is reducing access in rural areas
As PE firms acquire and consolidate dental practices, many rural locations are closed in favor of high-volume suburban offices, reducing access for underserved communities.
Source: ADA Health Policy Institute, 2023
PE-Owned Brands
Affordable Dentures & Implants
Owned by Shore Capital Partners
Over 400 denture-focused practices, acquired by TAG/Shore
9 locations tracked
Aspen Dental
Owned by Leonard Green & Partners
Over 1,000 dental offices across 45 states
9 locations tracked
Benevis (formerly Kool Smiles)
Dental chain formerly known as Kool Smiles, settled fraud allegations for $23.9M. Primarily serves Medicaid patients
9 locations tracked
Dental Care Alliance
PE-backed DSO with 400+ affiliated practices across 25 states
6 locations tracked
Heartland Dental
Owned by KKR (Kohlberg Kravis Roberts)
Largest dental support organization (DSO) in the US supporting 1,700+ offices
3 locations tracked
Mortenson Dental Partners
PE-backed DSO with 200+ practices across the Midwest and Southeast
9 locations tracked
North American Dental Group
Fast-growing DSO supported by Jacobs Holding with 250+ offices
10 locations tracked
Pacific Dental Services
Supports 900+ dental offices across 25 states
9 locations tracked
Smile Brands
Owned by Shore Capital Partners
DSO operating Bright Now! Dental, Monarch Dental, and other brands
6 locations tracked
Western Dental
DSO with 350+ offices primarily in California, Texas, and Alabama
8 locations tracked