Saturday, January 21, 2012

R. Kirk Huntsman’s- The Beginning: Reachout Healthcare America-Dental One, Nexus Dental Alliance and more

Last September(2011) R. Kirk Huntsman’s was featured at a seminar entitled “Beat The Dental Practice Management Companies”  Warning attendees of the “Walmart Effect” taking over dentistry.

Yet, among many other ventures in Dental Practice Management, R. Kirk Huntsman has been Managing Partner of Montage Venture Group LLC since March 2010, according to Business Week. 

R. Kirk Huntsman Bio from Nexus Dental Alliance, his virtual Dental Management company.  Virtual, meaning you just “pretend”, “not real”? 

Mr. Huntsman has been active in the dental industry for over 23 years.

Yet, never took time to become a dentist, wonder why?  If he was so into it, you’d have thought he would want to actually be one, right?

In 1988, he became the Dallas/Ft. Worth licensee for Associated Financial Transition Consultants, Inc.(AFTCO Associates,) a dental practice brokerage company with over 65 offices nationwide.  Within two years, his was the top performing office in the nation.   In 1991, he acquired the Houston license and continued to rapidly expand. 

By 1995, he was ready to begin owning and operating practices, so he launched Dental One as a dental management services organization, or DMSO.

In 1995, as well as today, it was illegal for a non-dentist to own dental practices!  I guess Mr. Huntsman failed to read the following page of info over at the AFTCO website, but it’s easy to see how he could become confused, since it’s written in a lot of double speak BS. Plus, it used the word “Goodwill” which I’m sure is not in his vocabulary.  Had the word, “Greed” been used, it would have had his complete attention.  Here is what is on the AFTCO’s website:

What is a professional corporation and can it own a dental practice and/or its goodwill?

A professional corporation is a State chartered and regulated business entity formed for the purpose of conducting a business (or professional practice). Only a licensed professional can own the stock of a professional corporation.

According to most State regulatory acts, only licensed professionals can “own” a professional practice. A professional corporation cannot own a practice, but it can, however, administer the business of a practice (hire employees, collect fees and pay bills), and it can own assets used to conduct the business of the practice (such as equipment, supplies, leasehold improvements, furniture and fixtures, etc.), but only to the extent of that corporation’s interest in the assets. A corporation may own some, none, or all of the assets of a practice, but not the practice itself.

The page goes on with more babble designed to split hairs on the terms, including the following, assets, practice, and goodwill. 

More of Kirk Huntsman’s blathering on about himself from his own website:

Under Mr. Huntsman’s leadership and direction, Dental One grew from scratch to over 63 offices in four states.  He sold the company in 2008 to a private equity firm, but stayed on with the company to assist with the merger of Dental One and Dental Care Partners.   The combined entity, DentalOne Partners, is today among the top DMSO groups in the nation, with over 150 locations in 14 states.

After leaving DentalOne Partners in the summer of 2010, Kirk began working closely with Morgan Stanley Private Equity in their acquisition of ReachOut Healthcare America, the nation’s largest mobile dentistry provider.   Mr. Huntsman left ReachOut in the spring of 2011 to form Nexus Dental Alliance, a next-generation virtual DMSO providing a wide range of DMSO-type [DMSO type???]resources and services to independent dentists.

Mr. Huntsman is a 1981 graduate of Brigham Young University’s Marriott School of Management with a degree in Finance.   Dentists in his immediate family include a brother, a daughter, a brother-in-law, a nephew, and a son-in-law.

Sorry, Mr. Huntsman, you can’t be a dentist by association! I have 5 law enforcement officers in my family, I can’t arrest your ass, even though I think you should be. I know 4 heart surgeons and I can’t perform open heart surgery, nor can I write rules, regulations, legislation or code of ethics for either of these two groups, even though I think I could do a bang-up job!

Mr. R. Kirk Huntsman is being modest when he talks about assiting in the sale of ReachOut Healthcare America to Morgan Stanley PE, he was Chief Executive Officer and Director!!!! 

Corporate Wiki has this on R. Kirk Huntsman the non-dentist:

R. Kirk Huntsman