Mid-Atlantic Dental Partners to Acquire Birner Dental Management Services, Inc.

Birner Dental Management, Inc. Shareholders to Receive Total Cash Consideration of up to $10.75 per share

Transaction expands Mid-Atlantic Dental Partners’ geographic footprint into the Rockies and Southwest

Plymouth Meeting, PA and Denver, Colorado – October 3rd, 2018 – Mid-Atlantic Dental Service Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (“DSO”) dedicated to improving the delivery of dental services for dentists and their patients and a portfolio company of S.C. Goldman & Company, LLC (“S.C. Goldman”), announced today that it has entered into a definitive agreement to acquire Birner Dental Management Services, Inc. (OTCQX: BDMS) (“Birner”). Under the terms of the agreement, an affiliate of Mid-Atlantic Dental Partners will purchase all of the outstanding shares of Birner Dental Management Services for $10.62 in cash. Shareholders will also receive one Contingent Value Right (CVR) per share of Birner common stock owned. The CVR entitles shareholders to an additional cash payment of up to $0.13 per share under certain circumstances following the closing of the transaction. The total consideration payable to Birner’s shareholders (assuming full payout of the CVR) represents a 105% premium to Birner’s closing share price of $5.25 on October 2, 2018.

Birner was founded in 1995 and operates dental practice affiliates under the Perfect Teeth® brand throughout Colorado, Arizona, and New Mexico. With more than 100 dentists, Perfect Teeth’s philosophy of “letting dentists be dentists” melds perfectly with the “dental partnership” approach that has defined the business philosophy for both owners and associate dentists of Mid-Atlantic Dental Partners.

Founded in 2016, Mid-Atlantic Dental Partners offers dentists a DSO model that supports dental professionals by providing marketing, financial, practice information and other business services so dentists can focus on delivering the highest quality care to their patients. In addition, Mid-Atlantic Dental Partners offers associate dentists an opportunity to participate in the financial success of the practices. Over the last two years, Mid-Atlantic Dental Partners has built an exceptional management team with deep dental, operational, and entrepreneurial experience.

The acquisition will increase Mid-Atlantic Dental Partners affiliate offices projected annual revenues to more than $100 million.

“Taking the Birner platform to the next level is a truly exciting step in the continued development of Mid-Atlantic Dental Partners into a nationally recognized DSO,” said Mitchell Goldman, Chief Executive Officer of Mid-Atlantic Dental Partners. “We look forward to partnering with Birner to accelerate the redevelopment of all of the Perfect Teeth-branded practices through investment in technology. Dentists, hygienists, dental assistants and office staff are the true assets of our practices, and we will strive to raise the importance of all dental professionals in improving the overall health care of patients and populations. We intend to make substantial investments in the people, equipment and technology of these dental practices,” Mr. Goldman continued.

“The Mid-Atlantic Dental team and organization is a fantastic cultural fit with the business we have built over 23 years at Birner,” said Fred Birner, Chief Executive Officer of Birner. “Mid-Atlantic’s ability to provide the additional resources we need to continue to build and expand our brand while investing in our providers will allow Birner to provide better services to all of its patients. Perfect Teeth shares Mid-Atlantic’s belief that our dental professionals are the backbone of the company and our most valuable asset.”

Birner will become Rocky Mountain Dental Services Holdings, a wholly-owned subsidiary of Mid-Atlantic Dental Services Holdings, at closing of the transaction. Birner will continue to be based in Denver, Colorado and will be locally managed. The newly acquired locations will continue to do business under the Perfect Teeth brand.

Houlihan Lokey served as the exclusive financial advisor and Duane Morris LLP, DLA Piper LLP and Waller LLP served as legal advisors to Mid-Atlantic Dental Partners. DLA Piper LLP served as legal advisors to S.C. Goldman & Company. Cain Brothers, a division of KeyBanc Capital Markets Inc.. served as the exclusive financial advisor and Faegre Baker Daniels LLP served as legal advisor to Birner Dental Management Services, Inc.

About Mid-Atlantic Dental Partners

Founded in 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care by elevating the importance of dental care in the overall health care of patients and their communities. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental Partners alleviates administrative burdens and allows dentists to focus on their patients.

For more information, visit www.mid-atlanticdental.com

About S.C. Goldman & Company, LLC

Founded in 2011, S.C. Goldman & Company is a family partnership which acquires North America-based middle-market companies with leading market positions in healthcare, services, and industrials. The firm’s permanent capital structure allows for efficient decision making and real-time flexibility to structure transactions. Through partnership with its management teams, S.C. Goldman aims to create long-term partnerships capable of building enduring value, for both shareholders and their employees.

About Birner Dental Management Services, Inc.

Perfect Teeth is a group of dental offices dedicated to providing gold standard patient care and services to every patient, every day. Since opening the doors in 1995, Perfect Teeth dental practices have provided family-friendly dental care for patients of all ages in Colorado, New Mexico and Arizona.

For more information, visit www.perfectteeth.com

Additional Information and Where to Find It; Participants in the Solicitation

In connection with the proposed transaction, Birner intends to file relevant materials with the United States Securities and Exchange Commission (the “SEC”), including a proxy statement on Schedule 14A. Following the filing of the definitive proxy statement with the SEC, Birner will mail the definitive proxy statement and a proxy card to each shareholder entitled to vote at the special meeting relating to the proposed transaction. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by Birner with the SEC, may be obtained free of charge at the SEC’s website (http://www.sec.gov), at Birner’s investor website (https://www.perfectteeth.com/about/investor-relations), or by writing or calling Birner at Birner Dental Management Services, Inc., 1777 S. Harrison Street, Suite 1400, Denver, CO 80210 or at (303) 691-0680. Shareholders should read carefully the proxy statement and any other relevant documents that Birner files with the SEC when they become available before making any voting decision because they will contain important information.

This communication does not constitute a solicitation of proxy, an offer to purchase, or a solicitation of an offer to sell any securities. Birner, its directors and executive officers are, and certain employees may be, deemed to be participants in the solicitation of proxies from shareholders in connection with the proposed transaction. Information regarding the names of such persons and their respective interests in the transaction, by securities holdings or otherwise, will be set forth in the definitive proxy statement when it is filed with the SEC. Additional information regarding these individuals is set forth in Birner’s Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on April 2, 2018, and the definitive proxy statement for its 2018 Annual Meeting of Shareholders, which was filed with the SEC on April 30, 2018. To the extent Birner’s directors and executive officers or their holdings of Birner securities have changed from the amounts disclosed in those filings, to Birner’s knowledge, such changes have been reflected on initial statements of beneficial ownership on Form 3 or statements of change in ownership on Form 4 on file with the SEC. These are (or, when filed, will be) available free of charge at http://www.sec.gov and https://www.perfectteeth.com/about/investor-relations/.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the transaction, including the risks that (a) the transaction may not be consummated within the anticipated time period, or at all, (b) the parties may fail to obtain shareholder approval of the transaction, (c) other conditions to the consummation of the transaction may not be satisfied, (d) all or part of Mid-Atlantic Dental Partners’ financing may not become available, (e) the risk that regulatory, licensure or other approvals required for the consummation of the transaction are not obtained or are obtained subject to terms and conditions that are not anticipated, (f) the significant limitations on remedies contained in the merger agreement may

limit or entirely prevent Birner from specifically enforcing Mid-Atlantic Dental Partners’ obligations under the merger agreement or recovering damages for any breach by Mid-Atlantic Dental Partners, and (g) that all or any portion of the CVR is not paid to Birner’s shareholders, (2) the effects that any termination of the transaction may have on Birner or its business, including the risks that (a) Birner’s stock price may decline significantly if the transaction is not completed, (b) the transaction may be terminated in circumstances requiring Birner to pay Mid-Atlantic Dental Partners a termination fee of up to $2 million, or (c) the circumstances of the termination, including the possible imposition of a 12-month tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling effect on alternatives to the transaction; (3) the effects that the announcement or pendency of the transaction may have on Birner and its business, including the risks that as a result (a) Birner’s business, operating results or stock price may suffer, (b) Birner’s current plans and operations may be disrupted, (c) Birner’s ability to retain or recruit key employees may be adversely affected, (d) Birner’s business relationships (including, patients, dentists, and suppliers) may be adversely affected, or (e) Birner’s management’s or employees’ attention may be diverted from other important matters; (4) the effect of limitations that the merger agreement places on Birner’s ability to operate its business or engage in alternative transactions; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the transaction and instituted against Birner and others; (6) the risk that the transaction may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and/or tax factors; and (8) other factors described under the heading “Risk Factors” in Part I, Item 1A of Birner’s Annual Report on Form 10-K for the year ended December 31, 2017. The Company disclaims any obligation to update these forward-looking statements.

Mid-Atlantic Dental Partners Announces COO, Board Addition

Philadelphia, PA – September 24, 2017 – Mid-Atlantic Dental Service Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (“DSO”) dedicated to improving the delivery of dental services for dentists and their patients, today announced the hiring of Leigh Feenburg as the company’s Chief Operating Officer.

As COO, Mr. Feenburg will be responsible for all dental operations and achievement of the company’s operational and financial goals. Previously, Mr. Feenburg was a Vice President of Operations in Florida and Texas for Great Expressions Dental Centers, one of the largest networks of dental care providers in the U.S. with more than 290 practices in ten states. In this capacity he resolved critical operation issues while generating substantial profit gains, directed complex, multi-site operations, and fostered long-term value.

“I am excited about the opportunity to guide the growth of Mid-Atlantic Dental Partners,” said Feenburg. “The company has grown quickly as its dental partnership model catches on. I look forward to bringing my operational experience to build an effective management team to support our dental practices and their patients.”

In addition, Mid-Atlantic Dental Partners announced that Dr. Rob Samit will be joining the company’s Board of Directors. Dr. Samit is the founder of MyEyeDr.com, an organization that assists optometry practices in delivering the highest quality vision care and customer service. Dr. Samit grew the company to over 2500 employees in 175 locations in ten states before selling it in 2015 to a private equity firm. Dr. Samit is currently an investor in the healthcare space.

“We are thrilled to bring onboard two seasoned leaders in their respective healthcare fields,” said Mitchell Goldman, Chief Executive Officer of Mid-Atlantic Dental Partners. “Both Leigh and Robert bring insight and expertise into successfully growing multi-site healthcare businesses operations across a number of states. We look forward to harnessing their expertise to duplicate their success here at Mid-Atlantic Dental Partners in the coming months and years.”

Founded in March of 2016, Mid-Atlantic Dental Partners is a fast-growing dental support organization with more than 10 offices in three states. The DSO most recently signed equity commitments for up to $12.5 million in growth equity to expand their successful model into the South Jersey, Baltimore, and D.C. suburbs.

About MidAtlantic Dental Partners 

Founded in 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com 

Mid-Atlantic Dental Partners Raises $12.5 Million

DSO Plans Expansion into Southern New Jersey, Baltimore, Washington, D.C.

PHILADELPHIA–Mid-Atlantic Dental Service Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (“DSO”) dedicated to improving the delivery of dental services for dentists and their patients, announced today that it has signed equity commitments for up to $12.5 million in growth equity led by S.C. Goldman and Company, LLC. Since the company’s launch in March of 2016, Mid-Atlantic Dental Partners has performed significantly ahead of its business plan, with eight existing offices, and seven new offices in the process of closing. The additional equity will be used to expand their successful model into the South Jersey, Baltimore, and D.C. suburbs.

“Our unique partnership model, where selling dentists retain a portion of the ownership of the company and build personal wealth over time, has proven to be an overwhelming success,” said Mitchell Goldman, Chief Executive Officer of Mid-Atlantic Dental Partners. “In our first year we partnered with eight dental practices in Pennsylvania and Maryland, and are now looking to expand our footprint and bring this partnership model to dentists in the southern New Jersey, Baltimore, and Washington, D.C. communities. By the end of 2017 we anticipate 15 practice partnerships and $20 million in run-rate revenue.”

Mid-Atlantic Dental Partners offers dentists a new DSO model that supports dental professionals by providing marketing, financial, practice information and other business services so dentists can focus on delivering the highest quality care to their patients.

The success of Mid-Atlantic Dental is due in part to the consistent growth of the U.S. dental care industry, driven largely by the aging Baby Boomer population, paired with an increasing number of dentists looking to reduce practice administrative burdens. These factors have positioned Mid-Atlantic Dental’s partnership model as a win-win solution.

About Mid-Atlantic Dental Partners

Founded in 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com

About S.C. Goldman & Company, LLC

Founded in 2011, S.C. Goldman & Company is a family partnership which acquires North America-based middle-market companies with leading market positions in healthcare, services, and industrials. The firm’s permanent capital structure allows for efficient decision making and real-time flexibility to structure transactions. Through partnership with its management teams, S.C. Goldman aims to create long-term partnerships capable of building enduring value, for both shareholders and their employees.

Drilling down: Montco DSO ahead of schedule with eight dental practice deals in first year

JOHN GEORGE
Senior Reporter
Philadelphia Business Journal

A dental support organization (DSO) launched one year ago by former Duane Morris attorney Mitchell Goldman is well ahead of schedule in its goal of affiliating with and providing business support services to dental practices.

Mid-Atlantic Dental Partners of Plymouth Meeting, Pa., earlier their month closed its eighth deal.

“We think we’ll be at 20 practices at year’s end,” Goldman said.

The company’s early hope was to have eight practices from the Mid-Atlantic region on board by the end of 2017. The eight that it has deals with are all in either Pennsylvania or Maryland.

Goldman said the interest his DSO is getting from dental practices validates the market data he collected prior to launching the company, along with an affiliated organization that is acquiring a majority stake in the practices Mid-Atlantic Dental Partners is supporting. The company has spent between $8 million and $10 million on acquisitions, Goldman said.

“The numbers showed this is a buyers’ market that has a lot of older dentists wanting to sell and very few millennials wanting to buy,” he said.

The 2017 Dental Practice Survey conducted by TD Bank in Cherry Hill found 29 percent of the respondents said that they are considering selling or merging their practice in the next few years. Dan Croft, head of health care practice solutions at TD Bank, said he viewed the “modest uptick” in the expected supply of practices for sale “consistent with the nearly full recovery of financial losses incurred from plummeting retirement, investment and real estate values during the economic crisis.”

Goldman said his research found the U.S. dental services market is a $112 billion industry with 3.5 percent annual growth rate driven largely by the aging Baby Boomer population, while 45 percent of dentists nationally are over the age of 54 and looking to reduce their practices’ administrative burdens as they continue to care for patients.

Mid-Atlantic Dental Partners received capital commitments of up to $15 million in its initial round of financing. The financing was led by S.C. Goldman and Co., a private family investment partnership based in Philadelphia.

Under the company’s partnership model, Mid-Atlantic Dental Partners allows selling dentists to retain a portion of the ownership in their practice and gives them the opportunity to continue to participate in the monthly earnings of the company — and in the future value of the company when the dentist retires.

Mid-Atlantic Dental Partners supports dental professionals by providing marketing, financial, practice information, and other business services so dentists can focus on delivering care and not worry about the business operations.

“Were not the same old DSO model where somebody buys the practice, employs the dentist, cuts costs and lays off staff,” he said. “I never liked that model. We believe instead of laying off staff, you reposition them. Instead of focusing on cutting costs, you try to grow the business.”

Goldman said a big challenge his company faces is recruiting new dentists. They have created a “path to ownership” program to help associate dentists expand their professional skills. “Our model works because younger dentists graduate with very high debt — $300,000 to $400,000 and for them to go buy into a practice is very difficult — it could mean carrying a total of a million dollars in debt.”

Mid-Atlantic Dental Partners’ path to ownership program finances a young dentists buy-in and allows pay back of the debt over time. The program provides the dentist with an immediate minority ownership stake in the practice. Goldman said he was explaining the model to a potential new hire who said he’d rather have the company pay his student loan.

“I told him with 20 percent of the practice he’d get 20 percent of the monthly [profit] distributions, and he could use that to pay off the loan,” Goldman said. “He didn’t know what a distribution was. His training was all about improving his dental skills, and not on the minutia of the business side.”

Mid-Atlantic Dental Partners Closes on 8th Practice at One Year Mark

Philadelphia, PAApril 27, 2017 – Mid-Atlantic Dental Services Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (DSO) dedicated to improving the delivery of dental services for dentists and their patients, announced today that it has closed on its eighth affiliated dental practice, just in time to mark the company’s one year anniversary.

With its unique partnership model, Mid-Atlantic Dental Partners allows selling dentists to retain a portion of the ownership in the company and gives them the opportunity to continue to participate in the monthly earnings of the company and in the future value of the company when the dentist retires.

“The affiliation process has been a significant validation of our partnership model, enabling us to perform significantly ahead of our business plan and to project accelerated growth in 2017,” said Mitchell Goldman, CEO of Mid-Atlantic Dental Partners. “Our model is not just for the dentist who wants to find a buyer for his or her practice, but for the practicing dentist who wants to own a piece of the company and build personal wealth over time.”

Mid-Atlantic Dental Partners offers dentists a new DSO model that supports dental professionals by providing marketing, financial, practice information, and other business services so dentists can focus on delivering the highest quality care to their patients.  In addition, all of our associate dentists have a significant opportunity to expand their professional skills and to be part of our path to ownership program.

The eight practices are located in Newtown Square, PA, Chadds Ford, PA, Fairless Hills, PA, Silver Spring, MD, and the eastern shore of Maryland.

In addition to the recent acquisitions, the company has announced four new additions to the management team over the last year. Suzanne Baals, R.D.H. joins Mid-Atlantic Dental Partners as Director of Operations and Hygiene; Jared Ayes joins as Director of Practice Integration; Richard Rush, DDS, joins as Director of Quality Assurance and Compliance; and Deborah Kubas, CPA, joins as Director of Finance.

“The deep bench of dental industry expertise of our management team demonstrates the caliber of support services dental practices receive when they partner with Mid-Atlantic Dental Partners. We are enthusiastic about changing the delivery of dental care,” added Goldman.

Mid-Atlantic Dental Partners continues to seek partnerships with leading dentists in the mid-Atlantic region comprising Pennsylvania, New Jersey, Maryland and Delaware.

In March of 2016 Mid-Atlantic Dental Partners announced an initial round of financing with up to $15 million in capital commitments led by S.C. Goldman and Company, LLC and just recently completed a refinancing and extension of its secured debt facility.  Valued at more than $112 billion, the U.S. dental care industry has consistently grown at 3.5 percent per year, driven in large measure by the aging Baby Boomer population. At the same time, approximately 45 percent of dentists nationally are over the age of 54 and looking to reduce administrative burdens while continuing to provide quality care. These factors, coupled with relatively stable medical reimbursement rates and robust regional markets, offer an active acquisition pipeline for Mid-Atlantic Dental Partners.

About Mid-Atlantic Dental Partners
Founded in March of 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com

Mid-Atlantic Dental Partners Announces Board of Directors

Philadelphia, PA – April 14, 2016 – Mid-Atlantic Dental Services Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (DSO) dedicated to improving the delivery of dental services for dentists and their patients, has announced the formation of its Board of Directors, which includes Denis F. Kinane, BDS, PhD, Dean of the University of Pennsylvania School of Dental Medicine; Jay Rosan, Co-Founder of Medovation and former Vice President of Health Innovation for Walgreens; Robert Healy, Principal of Healy Consulting and former Chief Financial Officer of Novacare; Charles Papy III, Of Counsel at Duane Morris; and Mitchell Goldman, CEO of Mid-Atlantic Dental Partners.

“Each member of our board was selected because of their recognized leadership in redesigning the healthcare delivery model,” said Mitchell Goldman, CEO of Mid-Atlantic Dental Partners. “Our diverse team uniquely positions Mid-Atlantic Dental Partners to help redefine the dental industry to improve the quality of dental care and the patient experience.”

As Dean of the University of Pennsylvania School of Dental Medicine, Denis Kinane brings more than 35 years of national and international academic, development, and dental leadership experience to Mid-Atlantic Dental. Since joining University of Pennsylvania in 2009, the School of Dental Medicine has drawn top faculty, risen in the research ranks and recruited top students, all while managing a fiscal surplus. Kinane has published more than 240 peer-reviewed papers and also holds appointments as Professor of Pathology and Periodontics and Professor of Otorhinolaryngology.

“Mid-Atlantic Dental combines an innovative model that allows dentists to focus on their patients and retain ownership in the practice while eliminating many administrative burdens,” said Kinane. “I’m excited to be a part of this exciting venture that should enhance the quality of dental health delivery.”

Jay Rosan is a seasoned healthcare innovator, bringing national retail healthcare experience from Walgreens and business consulting experience to the firm. He is the co-founder of Medovation, which provides intellectual capital, introductions, commercialization experience, and business expertise to dramatically reduce the risk of failure for healthcare startups. Previously, Rosan was Vice President of Health Innovation for Walgreens. The Health Innovation team was established in 2009 to help Walgreens develop a clear path in introducing successful innovative products and healthcare services, and to establish new partnerships with companies interested in building innovative growth businesses with Walgreens.

“My entire career has been spent identifying opportunities for innovation in healthcare. The dental industry is the next frontier, particularly in the delivery of quality care that will benefit patients and dentists alike,” said Rosan.

Rob Healy is the former Senior Vice President of Finance and Administration & CFO of Novacare and brings over 40 years of experience in finance, operations, business development, mergers and acquisitions in high growth environments. Healy has personally led numerous successful efforts in organization optimization, strategic and tactical operations and financial planning, business metrics and analytics, mergers, acquisitions, and internal business development.

Charles Papy’s legal practice focuses on corporate and business transactions and has evolved into strategic legal planning for clients that have complex business execution issues. Papy is the former Chairman of the Dade County Health Facilities Authority.
Mid-Atlantic Dental recently raised $15M to support the firm’s new DSO model, which supports dental professionals by providing marketing, financial, human resources and other business services so dentists can focus on delivering the highest quality care to their patients.

“In the last 20 years, healthcare delivery models have changed drastically, and the dental industry is no exception,” added Mitchell Goldman, CEO of Mid-Atlantic Dental Partners. “To not only survive, but thrive, dentists need to adopt an agile, innovative dental platform that meets their business needs while improving the quality of dental care.”

Mid-Atlantic Dental Partners seeks to partner with leading dentists in the Mid-Atlantic region comprising Pennsylvania, New Jersey, Maryland and Delaware.

About Mid-Atlantic Dental Partners

Founded in 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com.

Mid-Atlantic Dental Partners Launches, Raises $15 Million to Support Regional Dental Practices

Philadelphia, PA – March 8, 2016 – Mid-Atlantic Dental Service Holdings LLC, operating as Mid-Atlantic Dental Partners, a dental support organization (DSO) dedicated to improving the delivery of dental services for dentists and their patients, announced today that it has closed on its initial round of financing with up to $15 Million in capital commitments lead by S.C. Goldman and Company, LLC. Mid-Atlantic Dental Partners will offer dentists a new DSO model that supports dental professionals by providing marketing, financial, practice information and other business services so dentists can focus on delivering the highest quality care to their patients.

“Mid-Atlantic Dental Partners will enable dentists to participate in improving the delivery of dental care by spending more time serving their patients instead of handling billing and other administrative tasks,” said Mitchell Goldman, CEO of Mid-Atlantic Dental Partners. “By providing state of the art practice management, health information and financial support services, Mid-Atlantic Dental Partners can help dentists improve both the quality of care and profitability. Our new model is not just for the dentist who wants to find a buyer for his or her practice, but for the dentist who wants to grow with the company and build personal wealth over time.”

Mitchell Goldman joins Mid-Atlantic Dental Partners as CEO and brings more than 37 years of entrepreneurial, leadership and health law experience to the firm. Mr. Goldman’s experience spans almost every part of the health care industry, including advising entrepreneurs on the transactional and regulatory aspects of health systems, mobile health and urgent care, as well as dental support organizations, dental practices and dental supply companies. Mr. Goldman, who most recently was a senior partner at the national law firm of Duane Morris LLP, is an expert in the Affordable Care Act and teaches health care finance at the Thomas Kline School of Law at Drexel University as an adjunct professor.

With its initial funding in place, Mid-Atlantic Dental Partners will seek to partner with leading dentists in the mid-Atlantic region comprising Pennsylvania, New Jersey, Maryland and Delaware. The firm will also announce its expanded leadership and management teams in the coming weeks.

“Our goal is to leverage our deep bench of dental industry expertise and resources to partner with dentists that are enthusiastic about changing the delivery of care while building enterprise value over time,” added Goldman. “Our regional approach ensures that we can be responsive to the unique needs of each practice while offering significant long-term benefits for our dental partners.”

Mid-Atlantic Dental Partners enters the dental market at a critical time. Valued at more than $112 billion, the U.S. dental care industry has consistently grown at 3.5 percent per year, driven in large measure by the aging Baby Boomer population. At the same time, approximately 45 percent of dentists nationally are over the age of 54 and looking to reduce administrative burdens while continuing to provide quality care. These factors, coupled with relatively stable medical reimbursement rates and robust regional markets, offer an active acquisition pipeline for Mid-Atlantic Dental Partners.

About Mid-Atlantic Dental Partners

Founded in 2016, Mid-Atlantic Dental Partners is a dental support organization dedicated to improving the delivery of dental care. By providing dentists with financial management, marketing and technology services, Mid-Atlantic Dental alleviates administrative burdens and allows dentists to focus on their patients. For more information, visit www.mid-atlanticdental.com

About S.C. Goldman & Company, LLC

Founded in 2011, S.C. Goldman & Company is private family investment partnership based in Philadelphia, PA, investing in the lower middle market of healthcare and industrial businesses alongside management teams to grow and create value for its principal investors. S.C. Goldman owns interests in a diverse group of companies, spanning industries including healthcare, banking, industrials and real estate.

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