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Dental Management Service Organization Plans to Expand Family-Run Group With PE Investment

Waterbury, Connecticut Family Dental team. Photo courtesy Dr. Dental

Dr. Julia Faigel

Alex Faigel

In 2004, a brother and sister team opened their first dental practice in Massachusetts. Alex Faigel, CEO, and Dr. Julia Faigel, DMD, clinical director, had a simple vision: to provide quality dental care and great service so that patients would want to come back time and again.

In its first year, their small neighborhood dental office with its three employees had over 1,000 patients. Not only were patients appreciative of the convenient hours so they did not have to take time off from work, but most importantly, they were grateful to have access to dental care that they could trust.

At their first Christmas gathering, the dental team laughed over turkey and wine about how great it would be to provide this quality care and great service to other families all over Massachusetts.

With that simple idea in mind, and the motto, “From Our Family to Yours,”  they began opening trusted neighborhood family dental offices throughout Massachusetts. Making access easy and affordable were the most important factors when thinking about expanding. Each office location was carefully chosen to provide the most convenience.

Another motto they utilize is, “Smile More, Spend Less.” From credit cards to multiple insurance plans and flexible payment plans—they try to make it simple no matter what the patient’s budget. También hablan español.

Since then, the family-owned group, Framingham, Massachusetts-based dental management service organization, Dr. Dental Management, LLC, has grown the organization from a single location to 44 locations with 250 operatories throughout Massachusetts, Connecticut, New Hampshire and New Jersey.

Dr. Dental has a unique playbook for growth, successfully scaling the company exclusively through new site openings to become one of the largest dental management service organizations in New England, with 100 active dentists treating over 250,000 patients a year.

In order to drive growth and expansion, Abry Partners a Boston-based private equity firm, announced that it has completed a strategic investment in Dr. Dental.

With this infusion of capital from Abry, Dr. Dental will continue to expand organically by opening new locations but will now also target strategic acquisitions of dental practices and groups throughout the Northeast.

The funds will also be used to hire additional management and administration staff, and expand marketing and brand awareness for Dr. Dental and its affiliates. Dr. Julia Faigel and Alex Faigel will continue in their current management roles and run day-to-day operations.

“Abry’s investment in Dr. Dental is a true testament to our company and the dedication of our doctors and their loyal patients. We’re excited to build on our recent growth with Abry Partners and look forward to all that we can achieve together. By combining our first-rate reputation and expertise in organic growth with Abry Partners’ resources and guidance for strategic acquisitions, we see Dr. Dental achieving record growth and rapidly expanding its footprint over the next few years.” Alex Faigel, Co-founder and CEO, Dr. Dental

Since its founding in 1989, Abry has completed over $80 billion of transactions, including leveraged buyouts, growth financings and recapitalizations. Currently, Abry manages over $12.0 billion of capital in its active funds.

“We see a very bright future for Dr. Dental. Alex, Julia and their team have built a strong business ripe for further growth. This investment perfectly aligns with Abry’s multi-site healthcare specialty platform – including dermatology, dental, autism and urgent care – and we look forward to leveraging our expertise to help accelerate growth organically by expanding with new locations and through acquisitions.” -T.J. Rose of Abry Partners

 

Sources: Abry PartnersKLKN-TV, Dr. Dental, BusinessWire


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