Roseville, Minn.-based Park Dental Partners has agreed to acquire Village Family Dental DSO in a deal worth up to $46M.
The Fayetteville, N.C.-based DSO is affiliated with Village Family Dental, a multi-specialty dental group. The deal would mark Park Dental’s entry into its fourth state, adding 12 practice locations and 48 doctors to its network, according to an Aug. 10 news release.
The transaction is valued at $39.1 million in base consideration, including 474,535 restricted shares of Park Dental Partners common stock valued at $9.2 million, according to an Aug. 7 8-K filed with the SEC. The sellers may also receive up to $6.9 million in additional consideration based on EBITDA performance and employment contingencies, bringing the potential aggregate consideration to up to $46 million.
Village Family Dental DSO will operate as a subsidiary of Park Dental Partners following the transaction, which is expected to close later this year. Village Family Dental practices are also expected to continue operating under their existing name.
Park Dental Partners currently supports 222 affiliated doctors across 87 practice locations in three states.
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