Thursday, October 25, 2012

Final Bids in for Heartland Dental

Update Thursday October 25, 2012:

Effingham Daily News:

October 25, 2012

Heartland Dental Care for sale

Bill Grimes Effingham Daily News

EFFINGHAM — While international news services are reporting that Heartland Dental Care is for sale in a potential 10-figure deal, a Heartland executive said Wednesday that no deal would affect the local presence of the dental practice management giant.

    “We want the people of Effingham to know that we are committed to Effingham,” said Chad Thompson, the company’s vice president of administration.
  Thompson declined to comment on the potential deal, but international news service Reuters reported earlier this week that private equity firms KKR & Co., Apax Partners and Madison Dearborn Partners have bid for Heartland Dental. Reuters said the sale price could reach $1.3 billion.


    Heartland is building a 40,000-square foot addition for more office and training space. The company regularly hosts training sessions for dentists, hygienists and dental assistants with practices managed by Heartland. Recently, those sessions have been held at Thelma Keller Convention Center because the Heartland facilities are too small to handle the increased demand.

    “We’re excited about our expansion and continued growth,” Thompson said.

    Thompson confirmed that company founder Dr. Rick Workman is expected to remain as CEO after the deal is completed. Reuters reported that Workman, Heartland employees and CHS Capital Partners each own a third of the company.
Heartland Dental manages more than 370 dental practices in 19 states.

    Bill Grimes can be reached at 217-347-7151, ext. 132, or at

[In other words, CHS is trying to unload Heartland after they have sucked all they can from it?  Wanna bet it’s close to that $1.b in debt? ]


Tuesday October 23, 2012

By Soyoung Kim and Greg Roumeliotis

NEW YORK (Reuters) - Private equity firms KKR & Co , Apax Partners and Madison Dearborn Partners are bidding for Heartland Dental Care Inc, one of the largest U.S. dental practice management companies and which could be worth around $1.3 billion, according to people familiar with the matter.

The buyout firms submitted final bids on Monday for Heartland Dental, which has been exploring a sale after hiring investment banks Jefferies and Moelis earlier this year, the people said.

Heartland Dental, in which Chicago-based private equity firm CHS Capital Partners has a stake, has about $120 million in annual earnings before interest, tax, depreciation and amortization and could be sold for 10 to 12 times EBITDA, Reuters reported previously.

Representatives for KKR, Apax and Madison Dearborn declined to comment.


Read the rest here