Dallas-based MB2 Dental and Henderson, Nev.-based PDS Health hit major practice milestones this year, reaching 700 and 1,000 supported offices, respectively.
Here is how each DSO reached these accomplishments:
MB2 Dental
The 700-practice milestone came on the heels of a notable year of growth for the company in 2023. MB2 Dental started 2023 with more than 500 practices and hit 600 offices in August 2023. That same year, the dental partnership organization fueled further growth by securing a $150 million loan and raising an additional $20 million through an internal investment fundraiser from its doctor partners.
In 2024, the company closed on a $2.34 billion unitranche debt facility to fund acquisitions and future growth, helping to propel the DPO to hit 700 offices in March. It has since entered several new states.
Jeff Cellucci, the chief strategy officer at MB2 Dental, attributed the DPO's growth in 2024 to its "scrappy mentality" and staying close to its doctor partners and team members. He added that the company plans to use the funds from its most recent $525 million recapitalization event to support its growth in 2025.
"We are focused on building out more density in many of [our] existing key markets across the country," he told Becker's. "As the largest multispecialty dental group in the U.S., we have the unique ability to continue expanding both our general and specialty networks in these areas. By leveraging our robust referral network, we can strengthen collaboration between practices, which ultimately leads to better patient care."
PDS Health
PDS Health marked its 30th anniversary in June with the opening of its 1,000th practice.
The DSO started 2023 with more than 900 offices in its network, and went on to open nearly 20 practices by April 2023. The company ended the year with growth in 18 states. Founder and CEO Stephen Thorne IV described 2023 as "the best year in the history of the company," attributing the DSO's success to its operational innovations and patient-centric mindset.
Mr. Thorne told Becker's that in 2024 the DSO would be focused on establishing new business units in several areas, including dentistry and medicine.
During 2024, PDS expanded its network in several states through doctor partnerships and de novo office openings. It also added three specialty dental groups.