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Ontario Teachers' Pension Plan (Teachers'),
through its private equity group, Teachers' Private Capital (TPC), today
announced an agreement for the acquisition of a majority stake in Heartland
Dental Care, Inc. (Heartland Dental Care or the Company), one of the largest
dental service organizations in the United States.
As part of the transaction, Heartland Dental Care founder and CEO Dr. Rick
Workman will retain a significant minority position along with management and
employees. Terms of the transaction are not being disclosed.
Heartland Dental Care is based in Effingham, Illinois, and provides practice
support services to dental offices in 21 states. It provides over 500
affiliated dentists and their team members with business leadership training
and support services, including administrative staffing, human resources,
purchasing, marketing, administration, financial and information technology.
The Company is currently expanding its headquarter facilities in Effingham and
adding personnel to support its continued growth.
"Our investment in Heartland Dental Care is supported by favourable
fundamentals and demographics. We have been impressed with their dedication
to providing high-quality support services to dental practices that reduce the
administrative burdens on dentists. These services allow dentists to focus
on quality patient care and expansion of the delivery of dental care in their
communities," said Jane Rowe, Senior Vice-President of TPC. "We look forward
to working with Dr. Workman and the Company's excellent management team."
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