Largest majority Canadian-owned network of dental practices continues to expand its platform across the country with strategic support and growth capital from Peloton Capital Management

– Press Release –

VANCOUVER and TORONTO – June 27, 2019 – 123Dentist, Canada’s largest majority Canadian-owned network of dental practices, today announced that it has raised $425 million, including $300 million in committed growth capital and a further $125 million accessible from both equity and debt partners. The funds received, which will be used to accelerate 123Dentist’s expansion program, include an equity investment from private equity firm Peloton Capital Management and a refinancing of 123Dentist’s existing syndicated credit facilities co-led by Royal Bank of Canada and Bank of Montreal.

With this injection of strategic capital, 123Dentist will accelerate its expansion across Canada to complement its existing network of over 70 practices in Ontario, British Columbia, Alberta,       Manitoba, and Quebec; and further strengthen its back office, marketing, and operational capabilities for its partners.

“Our vision since day one was to establish 123Dentist as a national network built by dentists for dentists. That is why we encourage clinic level ownership for dentists to ensure both the continued success of their practice and optimal care for their patients,” said Dr. Amin Shivji, CEO and practicing dentist at 123Dentist.

“We have been successful in executing our vision because we have stayed true to the needs of the dental community. In an increasingly complex profession, our dentist first, patient focused strategy resonates with practicing dentists intent on doing what they love – dentistry. We align with the individual needs of our dentist partners and deliver on our core promises of practice-by-practice flexibility and long-term partnership solutions that reflect the unique needs of each of our dentist partners. As a result, we continue to exceed our growth projections. We have created what we believe is Canada’s best model and platform for dental practice partnerships. With Peloton and our banking partners, we are now well capitalized to accelerate our growth strategy,” said Dr. Shivji.

123Dentist delivers its support services through a decentralized approach that provides dentists in its network the flexibility to create a customized partnership that addresses their preferred level of assistance and contribution by 123Dentist. The company employs a network of regional managers with deep industry experience that are empowered to make decisions at the practice level. 123Dentist can support each practice in their day-to-day operations and provide traditional back-office functions, as well as the benefit of volume purchasing from a wide range of suppliers. “In short, we are a dentist community that inspires collaboration between our partners to deliver exceptional care to our patients,” said Dr. Shivji.

Peloton Capital Management Extends its Industry Expertise to 123Dentist

Members of the Peloton team bring extensive domain expertise in the dental industry to 123Dentist, having previously led an investment and acquisition of Heartland Dental, the largest dental support organization in the United States with over 900 offices and more than 1,500 supported dentists across 37 states. In addition, Pat Bauer, CEO of Heartland Dental, will be joining the 123Dentist board of directors, bringing his extensive expertise as an added value to the investment. The Peloton team’s extensive expertise in finance and banking, track record establishing sustainable growth strategies, and industry connections will play an important role in 123Dentist’s continued success.

“123Dentist has created a culture that is built around long-lasting, successful, and sustainable partnerships, and is unique in providing ownership at the practice level with supported autonomy,” said Steve Faraone, Managing Partner at Peloton Capital Management. “We feel that this flexible approach is unique in the marketplace and allows those supported by 123Dentist to put the delivery of excellent patient care at the center of everything they do. 123Dentist is very well positioned to significantly expand both its reach and market leadership across the country.”

About 123Dentist

The 123Dentist National Platform was launched in July 2017. The company is a majority dentist-owned, Canadian dental support organization with practices across the country and offices in Vancouver and Toronto. Dr. Amin Shivji is the CEO and an experienced operator of dental practices, having opened his first practice in 1993. 123Dentist enables dentists to focus on providing optimal care to their patients, while an experienced team provides a wide range of support services. 123Dentist offers different partnership models to meet the unique needs of each individual dentist, including the opportunity to retain a minority interest. For additional information, dentists can visit doctors.123dentist.com and patients can learn more at 123dentist.com.

About Peloton Capital Management

Peloton Capital Management is a private equity firm that uses a long-term investment philosophy and sector-focused strategy in building a portfolio of North American companies that present compelling opportunities for value creation. Headquartered in Toronto, the company is led by a blue-chip team of partners with extensive private equity experience. For more information please visit: pelotoncapitalmanagement.com.

Press Release – August 1, 2017 at 14:12 ET – published on newswire.ca

VANCOUVER and TORONTOAug. 1, 2017 /CNW/ – 123Dentist, the second-largest network of dental clinics in Canada, announced today the launch of its national platform and expansion into eastern Canada.  The company and its affiliates now operate in partnership with more than 80 dental clinics in Ontario and British Columbia, with further plans to expand into other provinces in the near future.

123Dentist is led by its founder and CEO, Dr. Amin Shivji, an experienced and prominent leader in the Canadian dental services industry.  “This transaction marks an exciting new chapter for Canadian dentists, hygienists and patients” said Dr. Shivji. “We believe that our national platform provides a flexible, sustainable and competitive offering, compared to other approaches to practice management.”  As part of establishing this national platform, Dr. Shivji has expanded his management team to include experienced operators and business builders from both inside and outside the dental industry.

“We are seeking to change the landscape and bring Canadian dentists together to provide exceptional service and care for their patients and the communities they serve” added Chris Fregren, CFO. “The company offers dentists at all career stages a simple, highly-effective alternative to practice ownership.”

123Dentist offers its partner clinics a wide array of non-clinical support functions such as accounting, payroll, human resources, marketing and supply & equipment purchasing.  It offers a unique model that is tailored to the specific needs and desires of each partner dentist, allowing them to have autonomy in their patient care philosophy while retaining an economic interest in their practices going forward.

“With our many years of experience owning and operating dental clinics in Canada, we have an unmatched expertise in providing dentists with the tools and support they need to shape the future of Canadian dentistry” said Dr. Shivji. “We have created a ‘made in Canada‘ solution by dentists who understand the industry and who have been practicing in these communities for decades.”

123Dentist is advised and supported by Vibrant Equity, a boutique firm based in Toronto focused on founding and advising businesses.  “We are delighted to work with Dr. Shivji and the 123Dentist management team in achieving their objectives over the coming years” said Lane Theriault, Managing Director of Vibrant Equity.  “The management team has developed a unique strategy that positions it well to become the national leader in Canadian dentistry services, and we are excited to be their partner.”

About 123Dentist

123Dentist is a privately-held dental services organization based in Vancouver, British Columbia and Toronto, Ontario.  It was founded by Dr. Amin Shivji, who is supported by a seasoned executive team with experienced company builders and operators across a variety of disciplines.  For additional information, please visit http://doctors.123dentist.com/.

 

For further information: Ali Bozorgzad, Executive Vice-President, at (604) 553-9007 (toll free: 1-866-811-0888 ) or info@123dentist.com.

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