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.