November 2, 2021
MIAMI, Nov. 2, 2021 – United Dental Corporation (UDC), whose Dental Partnership Organization (DPO) model has had a 98% retention rate in Australia, New Zealand and Canada, today announced it has raised a Series B Round of $5 million led by High Speed Ventures.
The round includes approximately $4 million in capital from 61 dentists and individual investors through High Speed Ventures, which brings early and mid-stage investment opportunities to the clients of High Speed Alliance (HSA). HSA is a Registered Investment Advisor that serves as a Family Office for entrepreneurial dentists and doctors across the U.S. The remaining $1 million is from private individual investors.
This new round of capital brings to more than $6 million the amount raised by UDC to date.
“The investment by so many doctors is another validation of our powerful DPO business model,” said Dr. Ray Khouri, Founder & CEO of United Dental Corporation. “Not all Dental Service Organizations (DSO) are the same. UDC’s model enables doctors to accelerate growth and maximize compensation while retaining complete autonomy and gaining an equity stake in UDC, if they so choose.
Dr. Forrest Bryant, CEO of High Speed Ventures said: “As a dentist who sold his own business in a private equity transaction, and as an Advisor for many of our clients’ successful exits, I have carefully evaluated many DSOs. UDC’s proven partnership model is clearly the best I’ve seen. It truly provides the autonomy doctors should demand, while realizing the full potential and value of a practice. This is a rare opportunity for our dentist investors to be in the capital stack so early in the process.”
Sean Cortis, Co-Founder and Chief Financial Officer of UDC said, “High Speed Ventures is a strategic investor that understands the power of our model and is committed to our vision. We look forward to Dr. Bryant’s service on our advisory board and to benefit from the expertise and intellectual capital of the entire High Speed Ventures team.”
UDC pioneered its business model in Australia and New Zealand, where Khouri launched and then sold Dental Corp. to Bupa Dental Corp. – now the largest dental network in both countries – for $600 million 2013. The model was then replicated in Canada, where Dental Corp. was launched and sold for $400 million to Canada’s pension fund. The company was subsequently sold to the private equity firm L Catterton for $1.6 billion in 2019 and today is listed on Canada’s stock exchange with a current market cap of approximateley $2.9 billion as of Nov. 1, 2021.
The new capital is intended to support UDC’s growth target of acquiring 100 practices over the next 12 months and serving a U.S. market that generates more than $123 billion a year in revenue by 200,000 dentists. The company is focused on the top 10% to 20% best performing doctors in their fields who generate $2 million to $50 million or more in revenue.
UDC supports top-tier doctors by providing capital, technology, marketing, procurement, human resources, legal, and accounting services. If you’re a dentist, investor or both, click here to contact UDC.
United Dental Corporation (UDC) is a Dental Partnership Organization (DPO) that partners with high-performing dentists seeking to maximize the value of their practice. Founded by Dr. Ray Khouri, UDC provides doctors with full autonomy to run their business with support from a nationwide professional services organization that delivers complete support for non-clinical functions. UDC is based on the same business model that has resulted in a 98% doctor retention rate in Australia, New Zealand and Canada. For more information about UDC, visit us at udc.dental.
Greg Berardi, Blue Marlin Partners