🠈  Rocky Mountain Dental Group  🠊

Perfect Teeth / Rocky Mountain Dental Services Holdings

Rocky Mountain Dental Holdings, which is a subsidiary of Mid-Atlantic Dental, is a holding company for the Perfect Teeth franchise system. Perfect Teeth is a network of dental practices in Colorado, New Mexico and Arizona.

Dental Works is a brand of dental offices from the Dental One side of the merger.

Mid-Atlantic was created by S.C. Goldman & Company which is a private equity firm created by SC Goldman who was attorney with Duane Morris LLP. Mr. Goldman is a leading expert on the Affordable Care Act with the inside scoop on the workings of the new bureaucracy. Realizing that the Affordable Care Act would end the tradition of private medical practices, Goldman sought to create a platform for rolling up dental practices.¹. SC Goldman received its financing from a large private equity firm called the CRG Partners.

Corporate History

Since Mid-Atlantic is the owner, I will present the corporate history from that perspective with Birner nested as an acquisition.

• 2011: SC Goldman founded.
• 2016: Goldman created Mid-Atlantic Partners in Philadelphia.¹
• 2019: CRG Partners committed $70 million to Mid-Atlantic.²
• 2018: Mid-Atlantic acquired Birner Dental Management Services, Inc..³

  History of Birner

  • 1995: Birner was founded in Denver with goal of rolling up dental practics into a publicly traded company.
  • 1998: Birner held its IPO on the NASDAQ with the symbol: BDMS.
  • 2018: Birmer was rebranded as Rocky Mountain Dental Group.
• 2019: MA acquired DentalOne based in Texas which had over 150 practices in 13 states

  History of Dental One Partners

  It appears that Dental One Partners is largely the creation of private equity firms acting on a belief that the fragmented dental industry must be rolled up into a national corporate structure. The two primary players appear to be North Peak Capital and MSD Capital which holds the funds of Michael Dell.

  It is possible to present the chain as a growth of Sears Family Dentistry.

  • 1981: Dr. Edward Meckler opened Sears Family Dental service Co to offer dentistry in conjuction with Sears and Roebuck stores
  • 1998: Sears Family Dental acquired DentalWorks which had 12 practices bringing Sears to 50 practices
    • 1989: Dental Works opened in Raleigh, NC.
  • 2007: North Peak Capital (NPC) and MSD Capital acquired Dentals Works and Sears Dental.⁶
  • 2008: NPC and MSD acquired DentalOne from SMM Ventures⁷
    • 1996: DentalOne opened in Dallas, Tx
    • ????: SMM Ventures acquired Dental One.
  • 2011: DentalCare Partners and Dental One (both owned by NCP and MSD) merged to create DentalOne Partners.
    • 1997: Key Equity and Health Equity funded DentalCare Partners which grew to 38 practices.

Understanding the layers of the company:

The Arizona practices are apparently part of a subsidiary called Glendale Dental Holdings. If you are in Phoenix then your dentist is a subsidiary of a subsidiery which is held by a small private equity firm which is owned by a large private equity firm.

I loved the old style practice in which dentists owned their firm. In this old structure, the owner of the company would stick his fingers in my mouth to clean my teeth. In this new paradigm there are five corporate layers between the patient and owner of the firm.

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References:

1. Group Dentistry Now - New DSO in the City of Brotherly Love (Drawn 11/7/2019)
2. PE Hub - CRG Commits $70 million to CRG (Drawn 11/7/2019)
3. Mid Atlantic Press Release - MA Completes Acquisition of Birner (Drawn 11/7/2019)
4. Mid Atlantic Press Release - MA Acquired DentalOne (Drawn 11/7/2019)
5. SEC - Birner filings (Drawn 11/7/2019)
6. Web Denistry - DentalCare Partners Acquired by MSD (Drawn 11/8/2019)
7. PE Hub - Dental One Switches Sponsors (Drawn 11/8/2019)

Directory Listings:

• Phoenix Color - Dental: Perfect Teeth
• Phoenix Color - Dental: West Valley Family Dental
• Pima County - Health: Perfect Teeth
• Boulder Color - Dentist: Perfect Teeth
• Colorado Springs Color - Dental: Perfect Teeth
• Denver Color - blogs: Perfect Teeth - Blog
• Denver Color - Dentistry: Perfect Teeth
• Denver Color - Dentistry: https://dentalworks.com/
• Fort Collins Color - Dental: Perfect Teeth

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