Many DSO executives are expecting an increase in M&A deals in the years to come amid shifting economic factors and pent up demand.
Here is what five leaders are expecting in 2026 and beyond for M&A in dentistry:
Matt Hendrick. Co-Founder of Elevate Dental Partners (Denver): The first wave of consolidation proved that scale could be achieved. The next phase will test which organizations can translate that scale into durable operating models. Groups that balance growth with strong clinical leadership, disciplined financial structures and genuine support for dentists will likely outperform those focused primarily on expansion alone.
Mike Rice. CEO of Phase 1 Equity (Chicago): The current environment is very different from 2021 when the cost of capital was lower and that continues to impact the number of transactions and their respective pricing. However, we believe the macro environment will continue to thaw out over the next few years.
Scotte Hudsmith. CEO of Specialized Dental Partners (Franklin, Tenn.): Toward the end of [2025,] there was an acceleration. Many of the groups had a really good last quarter of the year, and I’ve talked to several who are having a great January so far. I think there’s a little more calmness [about] the economy. Interest rate cuts certainly have helped. Some of the fear around tariffs and what the impact was going to be has calmed down. So, I think we’re returning a bit to normalization where at a period of time, I think people maybe pulled back for a little bit and came out a bit stronger.
Alisa Ulrey. COO of U.S. Oral Surgery Management (Irving, Texas): Maintaining high standards in M&A and ensuring smooth transitions for new partners is always important. Finally, standardizing operational processes across their organization will allow practices to operate more consistently and efficiently at scale.
We expect M&A activity to pick up. With lower interest rates and pent‑up demand, we expect more groups to come to the table, creating increased opportunities for partnership across our space.
Francesca Pregano. COO of Smile Makers Dental Center (Tyson’s Corner, Va.): I believe M&A activity in the dental industry is likely to increase in 2026. However, I also believe the nature of acquisitions will continue to evolve. In my view, buyers will place greater emphasis on practices that deliver an exceptional patient experience and have strong, scalable systems in place, rather than focusing solely on size or topline revenue. Based on what we’ve seen over the past few years, those foundational elements often determine success or failure post-acquisition. As a result, I believe operational maturity, leadership depth and consistency of performance will be key differentiators in determining which practices are most attractive in the market.
At the Becker's 5th Annual Future of Dentistry Roundtable, taking place September 14-15 in Chicago, dental leaders and executives will gain insights into emerging technologies, practice growth strategies and the evolving landscape of dental care delivery, with a focus on innovation, patient experience and operational excellence. Apply for complimentary registration now.
