Thursday, November 08, 2012

Why aren’t corporate executives arrested for practicing dentistry without a license?

If people can be arrested for practicing dentistry without a license as they were in Houston recently,then pray tell why can’t these folks:

Jeff Lane  - NCDR dba Kool Smiles

Douglas W. Brown – Affordable Dentures

Michael Dell – DentalOne Partners

James Ferrell – ImmediaDent

David R. Wilson – CSHM dba Small Smiles

Stephen Thorne – Pacific Dental

Robert (Bob) Fontana – Aspen Dental

Greg Serrao – JLL Partners – American Dental Partners

James W. Leech – Ontario Teachers Pension Plan (OTPP) – Heartland Dental (if sale is completed)

Is it because the private equity owners hide behind 3-4 shell corporations and layers of regional managers? You bet it is.

For instance, Jeff Lane of FFL Partners has his office in Atlanta in the same building as National Children’s Dental Research (NCDR) - Kool Smiles. In fact Lane’s office and Dale Mayfield’s office are adjacent to one another. Mayfield is NCDR-Kool Smiles Chief Dental Officer.

Why does the private equity firm, who is supposedly “acting like a bank” – according to Kool Smiles regional manager Dr. Diane Earle – need one of their partners inside NCDR-Kool Smiles headquarters in Atlanta, basically sleeping with Dale Mayfield. Heck they have to walk by each other’s office to get to the bathroom!

According to Kool Smiles Holding Corporation Form D at the SEC the executives and directors of Kool Smiles are mostly FFL Partners executives. They are as follows:

Tully M. Friedman  - Director
David L. Lowe  -  Executive Officer and Director
Aaron S. Money – Executive Officer and Director
Doug Brown – Director
William R. Brody, MD – Director
Paul Walker, DDS – Director
Kevin Miller – Director
Thomas S. Nance – Executive Officer, Director and Promoter
Brian Bouma – Director
Joseph Mello – Director