Raleigh-based Affordable Care, LLC. announced Friday that it has acquires DDS Dentures + Implant Solutions, a group of supported dental practices, for an undisclosed amount.
No job losses are expected as a result of the deal. Both companies are to retain their current executives, who will instead take on new leadership roles in the combined company.
DDS Dentures + Implant Solutions is a group of support dental practices with 52 practices spanning seven Southern states. DSS supported practices offer complete-care dentistry, extractions and implant and denture services, at an affordable price to their customers.
Under the terms of the agreement, Affordable Care will serve as the dental service organization for both brands: Affordable Dentures & Implants and DDS Dentures + Implant Solutions.
Both companies are majority-owned by the Boston-based investment firm Berkshire Partners, an existing investor in Affordable Care.
Berkshire has raised nine private equity funds totaling over $16 billion, and has made over 125 investments in middle market companies since it’s founding in 1986. The company has a history of growing middle market companies, to profit on investment returns.
The company is currently operating out Berkshire Fund IX, a $5.5 billion capital fund raised in 2016, with the goal of investing $50 million to $500 million into each portfolio company.
With this deal, American Dentures and Implants will be the largest network of dental practices in the country, with more than 290 affiliates in 39 states.
“This acquisition combines two successful companies with a shared goal of expanding patient access to high-quality dental care and tooth replacement services,” said Gene Kirtser, CEO of Affordable Care. “We believe this combination enhances the growth prospects of both companies as well as the support services that we can offer our affiliated practices and dentists.”
Founded in 1975, Affordable Care is the largest dental support organization in America focused on tooth replacement and similar services. Each practice operating under the Affordable Dentures and Implants brand, is individually owned and operated by a licensed dentist to serve their local community.
The company operates a call center located in North Carolina’s Research Triangle Park, which provides business support and facilitates the practices non-clinical duties.