American Dental Companies (ADC), a founder-owned dental services organization (DSO), has appointed JPMorgan to pursue a sale, according to two sources familiar with the situation.
Phoenix-based ADC, which generates around USD 15m-USD 20m in EBITDA, has not yet launched a process. It is using JPMorgan’s middle market banking group, they added.
ADC, founded by Dr. Adriatik Rama, the CEO, seeks to partner with dental practices and manage the business side of dental groups, including payroll support, insurance verification, human resources, IT and a range of other services, according to its website.
It is affiliated with at least 34 dental practices in Arizona, Alaska and Washington State, according to its website.
A sale of ADC would come amid a wave of US DSO sales and sale processes, making it one of the most active sectors in consolidation in healthcare services.
DSOs on the block include Raleigh, North Carolina-based Oakpoint, owned by Longshore Capital; founder-owned Platinum Dental, a West Jordan, Utah-based DSO, and P4Dentist, based in Plano, Texas, this news service reported.
DSOs that have recently traded include Advanced Dental Brands and Lightwave Dental, as reported, both to private equity buyers.
ADC did not respond to a request for comment. JPMorgan declined to comment.