Heartland Dental Announces Strategic Transaction with American Dental Partners Incorporated

This transaction brings together two industry leaders in doctor-led dental service organizations, leveraging complementary strengths to enhance support of doctors in building successful dental practices

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Heartland Dental

May 14, 2021, 15:40 ET

EFFINGHAM, Ill., May 14, 2021 /PRNewswire/ -- Heartland Dental, the nation's leading dental support organization (DSO), today announced that it has signed an agreement to enter into a strategic transaction with American Dental Partners Incorporated (ADPI). Based in Wakefield, Massachusetts, ADPI is a leading DSO that supports 23 dental group practices spanning 278 locations across 21 states.

The strategic transaction expands the community of doctor leaders within the Heartland Dental community and the ability for such leaders to gain support while providing high-quality oral health care to more patients. Through the strategic transaction, Heartland Dental and ADPI will have a combined network of over 2,300 supported dentists, in more than 1,400 locations across 38 states nationwide.

"We are thrilled to bring together two historic industry leaders to further doctor-led, high-quality oral health care," said Patrick Bauer, Heartland Dental President and CEO. "Heartland and ADPI share a mission to support dentists and their teams in delivering the highest quality patient care and experiences to the communities they serve. Together, we will have expanded geographic reach and operational resources to deliver unparalleled value and support to doctors."

Heartland Dental and ADPI are two leading DSOs with complementary missions, cultures, and organizations. ADPI brings an expansive platform of high-quality practices, including many that are accredited by the Accreditation Association for Ambulatory Health Care (AAAHC). Heartland Dental is well known for the extensive resources and support it provides to dental practices, including the nation's best CE and leadership training with state-of-the-art equipment, efficient purchasing methods, and technology.

Notably, upon closing ADPI doctors and team members will gain immediate access to Heartland Dental's educational offerings, including CE and leadership training, providing opportunities for supported doctors and team members to enhance skill levels and career advancement.

"We are excited to be joining Heartland Dental's network, which offers expansive resources to our supported doctors and team members, strengthening their dental practices and enabling the best care to their patients," said Kevin Trexler, ADPI CEO. "Our culture compatibility—dedicated to supporting doctors and our team members—is the basis for supporting dental providers as the nation's leading DSO."

The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. Heartland has entered into a commitment letter (the "Commitment Letter"), dated as of May 12, 2021, with Jefferies Finance LLC, KKR Capital Markets LLC and KKR Corporate Lending LLC (collectively, the "Commitment Parties"), pursuant to which, subject to the terms and conditions set forth therein.

Ropes & Gray LLP is acting as legal advisor to Heartland Dental in the transaction.

ADPI is being advised by Harris Williams.

Heartland Dental

About Heartland Dental
Heartland Dental was founded in 1997 by Rick Workman, DMD. Today, the Effingham, IL-based company is the nation's largest dental support organization providing non-clinical, administrative support services to over 1,150 dental offices across 38 states. Heartland Dental supports dentists as they deliver high quality care across a spectrum of dental services, and is majority owned by KKR, a leading global investment firm. For additional information, please visit the company online at heartland.com.
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Media Contacts:

Heartland Dental
Christy Hakman, Company Communications
(217) 821-5287 or [email protected]

American Dental Partners, Inc.
Mark Rutherford, Vice President, Marketing
(781) 213-0268 or [email protected]

SOURCE Heartland Dental