In 2022, Heartland Dental supported the merger of three Canadian DSOs — 123Dentist, Altima Dental and Lapointe Group — to create the largest DSO in the country.
Travis Franklin, CFO of Heartland Dental, recently connected with Becker's to discuss the DSO's decision to enter into its first strategic partnership outside the U.S.
Question: What influenced Heartland Dental's decision to enter the Canada market?
Travis Franklin: The dental and DSO industries in Canada hold many similarities to the U.S. market. When 123Dentist, Altima Dental and Lapointe Group decided to merge earlier this year, Heartland Dental saw the opportunity to extend our support model to a like-minded DSO in our neighboring country. Heartland Dental has always respected the doctor-led success of 123Dentist and Altima Dental and were confident this would be a successful partnership, and it has proven successful thus far.
Q: What role does private equity play in Heartland Dental's growth model?
TF: Heartland Dental has worked with a number of investors over the years. KKR has been Heartland Dental’s investor since 2018, and they continue to be a great sponsor who is aligned with our core values and doctor-led culture.