Heartland Dental Care’s CEO, Richard Workman, is likely still smiling from a gratifying finish to 2012.
After seeking a buyer in early September, the Ontario Teacher’s Pension Plan (Canada) agreed to buy a majority stake in Heartland Dental Care outbidding traditional buyout funds run by KKR, Madison Dearborn Partners and Apax Partners. The estimated value of the deal is $1.3B. Workman, together with management and employees retain a minority stake in the company.
Later in the Fall, Heartland with 370+ affiliated US dental practices was recognized on Inc. Magazine’s "Hire Power" Awards list – a salute to US job creating companies (within the last 3 years). Heartland created 1,150 jobs.
The Midwest-based company that provides leadership and support services to dentists experienced a busy December. Numerous practices were added to its affiliate list, most notably, Goldstein, Garber & Salama, LLC, an 83-year old Atlanta-based dental practice specializing in cosmetic dentistry.