Dallas-based Smile Doctors, which calls itself the largest and fastest-growing orthodontic support organization in the U.S., announced it has completed a capital raise of more than $550 million.
CEO J. Hedrick
Smile Doctors said the raise was funded by doctors along with several large domestic and international healthcare investors. It added that the funding will support the network in continuing its industry-leading affiliation growth, enhance its strategic investments in technology, and continue to expand its support staff capabilities.
Smile Doctors, which was founded in 2015, said the sizable investment comes as it has just completed a strong quarter, adding several new partnerships.
“We’ve generated significant growth over the last three years, and we’re excited to be at a point where we have partnered with such incredible and innovative doctors,” Smile Doctors CEO J. Hedrick said in a statement. “We continue to attract new doctors and invest in technology that contributes to the patient-first culture we are committed to at our organization.”
“The strong reaction from the investment community—especially during the current economic environment—is an indication of the strength of our business, and through our capital partners and doctors, we believe can keep up the momentum and continue to shape the future of the orthodontic industry,” Hedrick added.
Hedrick joined Smile Doctors as CEO in 2019 after previously serving as CEO of Irving-based restaurant chain Pei Wei Asian Kitchen.
Tools and tech to help orthodontists focus on patient care
Smile Doctors said that Blackburn Family Orthodontics (Texas), Weaver Orthodontics (Arkansas), Smith Smile Orthodontics (Georgia), Weissman Orthodontics (Alabama), and Smiles of Ohio (Ohio) are its newest partners.
The organization’s affiliated practices have access to a variety of services including human resources, onboarding, marketing, accounting and finance, revenue cycle management, supply chain, legal, and operations.
They also benefit from the Smile Doctors’ turnkey relationships with leading vendors and gain access to the latest cutting-edge technology.
Katy network member offers a review
“Since starting my practice seven years ago, I’ve had awesome mentors help me along the way,” James Blackburn, D.D.S., M.S.D. of Blackburn Family Orthodontics in Katy, said in a statement. He became part of the Smile Doctors network in the second quarter. “Over the past four years, each of my mentors has joined Smile Doctors. After numerous conversations, I realized that to take both my practice and my personal life to the next level, partnering with an OSO was the next logical step and it was very apparent that Smile Doctors was a perfect fit for me and my team.”
Smile Doctors has more than 400 locations in 28 states, developing and growing affiliated practices by providing tools and technology that allow their orthodontists to focus entirely on patient care.
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