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Dealipedia - ReachOut Healthcare America acquires Mobile Dentists

ReachOut Healthcare America acquires Mobile Dentists

Deal Participants:
Acquiring Company: ReachOut Healthcare America View Profile Charts Homepage
Target Company: Mobile Dentists View Profile Charts Homepage
Deal Financials:
 
Date:
Announced: Aug 26, 2008

PRESS RELEASE

Sentinel Capital Partners, a private equity firm that invests in promising, smaller middle-market companies, announced today that its portfolio company ReachOut Healthcare America has acquired Mobile Dentists. The management teams from both companies partnered with Sentinel in the transaction, the terms of which were not disclosed.

The combined company is the nation's leader in mobile dental services, providing an array of diagnostic, preventive, restorative, prosthodontic, and periodontal dental services primarily to underserved children in schools and foster programs. Operating in 21 states, ReachOut and Mobile Dentists provided dental care to more than 250,000 low-income children in the past year.
"With eighty percent of all dental decay occurring in the poorest twenty-five percent of the population, these two businesses fill critical gaps in access to dental care," said Michael Howell and Dan Goldsmith, co-founders of ReachOut Healthcare America. "As two organizations with the same mission�to provide dental care to those who need it most�ReachOut and Mobile Dentists have highly compatible cultures. We look forward to working closely with Mobile Dentists' talented management team to expand the breadth and scope of our services and our presence throughout the country."

"We are very proud of all that we have achieved over the last decade, and we are even more excited about creating a true market leader with extraordinary growth potential by combining Mobile Dentists and ReachOut," said Dr. Marcy Borofsky and Dr. Margo Woll, co-founders of Mobile Dentists. "We have studied the success of ReachOut's partnership with Sentinel, a firm with significant experience in dental services and a great track record of supporting management teams seeking to build stronger businesses. We are very pleased to join this partnership."

"ReachOut Healthcare America is truly a great social enterprise. It performs superbly as a business and at the same time provides a real benefit to the communities in which it operates," said Paul Murphy, a partner at Sentinel. "We are thrilled to have found a similarly positioned business in Mobile Dentists, and we are proud to support and partner with these two extraordinary management teams as they endeavor to integrate and grow the business."

Sentinel's history of successful investments in dental services companies includes stakes in Castle Dental Centers, Inc., a leading dental services provider sold in 2004, and Metro Dentalcare, a multi-specialty dental group sold in September 2007. Sentinel has also invested in Interim Healthcare, the nation's largest provider of home health care and supplemental health care staffing services.

About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building smaller middle- market companies in the United States and Canada in partnership with management. Sentinel targets consumer products, food and restaurants, franchising, manufacturing, and service businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of between $5 million and $25 million. For more information about Sentinel, visit www.sentinelpartners.com.

About ReachOut Healthcare America
Founded in 1997 and based in Phoenix, Arizona, ReachOut provides mobile dental services primarily to underprivileged children in schools and foster programs. ReachOut provided dental services to nearly 100,000 children in 2007. ReachOut offers a complete array of diagnostic, preventive, restorative, prosthodontic, and periodontal dental services. For more information about ReachOut Healthcare America, visit www.reachouthealthcare.com.

About Mobile Dentists
Founded in 1998 and headquartered in Farmington Hills, Michigan, Mobile Dentists provides innovative, on-site, school-based, preventive dental services through its Smile programs. The company's mission is to bring state-of-the-art, preventive dental care to those students in need in the most comfortable, effective way possible. Since inception, Mobile Dentists has served more than 3,000 schools and 800,000 children in 11 states. For more information about Mobile Dentists, visit www.mobiledentists.com.

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Aug 26 '08
This version submitted by Anonymous

 

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