140-office DSO raises $12M

Dental service organization Mortenson Dental Partners has raised a $12 million equity offering from the sale of its common stock, the company announced June 1.

The offering, which adds 30 new investors, was only available to MDP doctors, team members and its Employee Stock Ownership Plan.

MDP is entirely employee-owned and does not have private equity or institutional investors. The company exceeded its $10 million expected amount with the help of 51 investors spending an average of $235,000. The money will be used toward strengthening the company, paying down debts and providing new ownership opportunities for doctors.

MDP was founded in 1979 and is based in Louisville, Ky. It supports 140 offices across nine states.

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