Thurston Group Exits U.S. Oral Surgery Management

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Nov 22, 2021, 09:30 ET

CHICAGO, Nov. 22, 2021 /PRNewswire/ -- Thurston Group ("Thurston"), a private equity firm focused on investments in healthcare services companies, announced the sale of U.S. Oral Surgery Management ("USOSM") to Oak Hill Capital ("Oak Hill").

Thurston, following its highly successful exit from Smiles Doctors, founded USOSM in November 2017 through the combination of two premier oral surgery practices in Austin and Dallas. Since its formation, USOSM has grown from 17 oral surgeons to 141 oral surgeons with 124 locations in 18 states at the time of the exit. In addition to providing the initial equity, Thurston provided the senior debt facility to close the transaction. Thurston and its affiliates received an IRR of over 92% from this investment.

Patrick J. Haynes, III, Chairman and CEO at Thurston Group, stated, "Thurston's philosophy of partnering with the highest quality of clinical professionals, leveraging first mover advantage and building a world class management team resulted in superior returns and a sustainable business model for all of our stakeholders."

Rick Hall, USOSM's President and CEO, stated, "Pat Haynes, our founder, developed the model that would appeal to oral surgeons. He, along with Thurston's Managing Director, Dan Davis, secured our founding practices and were the architects of the relationship with our other private equity sponsors. Thurston built the team, the infrastructure, and the service culture to execute on their strategy and vision. Thurston's ongoing involvement and support have been key to our collective success."

Dr. Tom Weil, MD a Managing Partner of Austin Oral and Maxillofacial Surgery stated, "Thurston's scalable infrastructure and laser like focus on attracting top tier clinicians created the premier and first oral surgery platform in the US."

Moelis & Company acted as the financial advisor to USOSM.

About Thurston Group

Thurston Group is a Chicago-based private equity firm that focuses on building industry-leading companies in the healthcare and related business services sectors. Thurston has an extensive history of partnering with physicians and building fast-growing healthcare businesses, including Smile Doctors, U.S. Endodontics Partners, US Oral Surgery Management, South Georgia Dental Management, U.S. Orthopaedic Partners, Gen4 Dental Partners and ARC Health, among others. Over its thirty-five-year history Thurston Group has returned over $4B of invested capital. For additional information about Thurston Group, please visit Thurston Group's website at www.thurstongroup.com.

Media Contact: Dana Hayes III, 312-255-0077

SOURCE Thurston Group