Operating as Mid-Atlantic Dental Partners, Mid-Atlantic Dental Service Holdings has completed its acquisition of Birner Dental Management Services. In connection with the transaction, an affiliate of Mid-Atlantic Dental Partners purchased all of the outstanding shares of Birner Dental for $10.62 each in cash.
Birner Dental shareholders also received one contingent value right (CVR) per share of Birner common stock owned. The CVRs entitle former Birner Dental shareholders to an additional cash payment of up to $0.13 per share under certain circumstances on June 14, 2020.
Founded in 1995, Birner Dental operates dental practice affiliates under the Perfect Teeth brand throughout Colorado, Arizona, and New Mexico. With more than 100 dentists, Perfect Teeth says that it operates under the philosophy of “letting dentists be dentists.”
“Today’s announcement is an exciting milestone for Mid-Atlantic Dental Partners, and we’re thrilled to welcome the Perfect Teeth family to our team,” said Mitchell Goldman, CEO of Mid-Atlantic Dental Partners.
“At Mid-Atlantic Dental, we have created a unique partnership model that allows us to support dental professionals so that they can focus on caring for their patients. We’re thrilled to expand this model to the southwest and mountain states,” said Goldman.
“I am extremely excited about the opportunity for growth of the Perfect Teeth footprint in the southwest and mountain states. This growth will happen thoughtfully, ensuring a first-class team of dentists and hygienists, and a focus on the importance of oral health within a patient’s overall healthcare picture,” said Marlene Kacy, vice president for regional operations for the mountain region of Perfect Teeth.
“Building on the established brand in the region, Mid-Atlantic has the ability to provide needed resources to build and expand the Perfect Teeth brand through significant investments in state-of-the-art technology, our clinical and administrative offices, and the offices, with the focus always on the ultimate patient experience,” said Leigh Feenburg, chief operating officer of Mid-Atlantic Dental Partners.
Upon closing, Birner will become Rocky Mountain Dental Services Holdings. It will continue to be based in Denver and will be locally managed. The newly affiliated locations will continue to do business under the Perfect Teeth brand.
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