Coast Dental has entered into an acquisition agreement that will give it a national presence and make it the fifth largest dental provider in the U.S. Once finalized, the Tampa-based dental company will have 182 dental practices in five states and employ over 2,200 people.
TAMPA, FL (May 4, 2011) – Coast Dental Services, Inc., announced today that it has entered into an agreement to acquire the assets of Dental Technology, Inc. (DTI), doing business as SmileCare, and Community Dental Services, Inc., a California licensed health care service plan. DTI and its subsidiaries operate 57 SmileCare dental practices in California, Nevada and Texas, employing 1,200 staff members, including 130 dentists. The transaction is expected to close upon final approval by the California Department of Managed Health Care.
Coast Dental is the leading provider of dental care in the Southeast and operates 125 dental practices in Florida and Georgia. The addition of SmileCare expands Coast Dental’s operating footprint outside the Southeast and will make the Tampa-based company the fifth largest dental provider in the U.S. with 182 affiliated practices and 2,200 employees. All SmileCare dental centers will continue to operate under the SmileCare brand name.
Coast Dental CEO Thomas J. Marler said, “We are excited about the opportunity to provide a broader range of dental care across the U.S. The strategic acquisition of SmileCare accelerates our growth plan and enables us to create a national presence. Coast and SmileCare each have extensive experience building successful practices and expanding access to dental care. We look forward to integrating the two companies quickly and growing the combined enterprise.”
Adam Diasti, DDS, Coast Dental’s Founder, and President of Coast Dental PA, said, “SmileCare has an impressive team of clinicians and practice support professionals. Coast Dental brings a successful track record of business management, practice support and innovation that will enhance the quality of care delivered to SmileCare patients. Employees and patients alike will benefit from our planned technology enhancements and clinical upgrades.”
“SmileCare will be a strong addition to the Coast organization,” said Daniel D. Crowley, CEO for SmileCare. “Together, these firms will be a leading provider of quality dental care in the U.S.”
Goldman Sachs Specialty Lending Group is leading the financing of the transaction.