Signature Dental Partners: Company Profile

Background

Overview

Signature Dental Partners (SDP) is a dental support organization (DSO) headquartered in Phoenix, Arizona. Established in 2017 by Dr. Chet Jenkins and Kim McCrady, RDH, SDP provides non-clinical business support services to dental practices across the western United States, including Arizona, Colorado, Utah, Nevada, New Mexico, Oregon, and Washington.

Mission and Vision

SDP's mission is to improve the lives of dentists and support their team members to provide a superior patient experience. The organization aims to foster a growing base of highly engaged dentists working collaboratively with best-in-class business support teams, continuously improving all facets of dental practice management.

Industry Significance

As a DSO, SDP plays a crucial role in the dental industry by alleviating administrative burdens for dental practitioners, allowing them to focus more on patient care. This support enhances operational efficiency and profitability for affiliated practices, contributing to the overall growth and sustainability of dental services in the regions they serve.

Key Strategic Focus

Core Objectives

SDP's primary objectives include:

• Alleviating Administrative Burdens: Providing comprehensive non-clinical support services to allow dentists to concentrate on clinical care.

• Enhancing Operational Efficiency: Implementing business support services that improve practice profitability and reduce operational risks.

• Fostering Collaborative Environments: Building a community of dentists and support teams working together to achieve shared goals.

Areas of Specialization

SDP specializes in:

• Human Resources: Managing staffing needs and human resource functions.

• Marketing and Community Outreach: Developing marketing strategies and engaging with local communities.

• Procurement: Overseeing supply chain management and capital equipment procurement.

• Financial Management: Handling accounting, finance, and payables management.

Key Technologies Utilized

SDP employs a diverse range of digital tools, including:

• Cloud Services: For data storage and management.

• SEO Tools: To enhance online visibility.

• Bot Management: Ensuring website security and performance.

Primary Markets Targeted

SDP focuses on dental practices in the western United States, aiming to expand its network and support services in these regions.

Financials and Funding

Funding History

SDP has attracted significant investment to support its growth:

• Private Equity Investment: Tyree & D'Angelo Partners (TDP) serves as the private equity sponsor and control investor.

• Strategic Minority Investment: In October 2022, Mitsui & Co., Ltd., a major Japanese conglomerate, made a strategic minority investment in SDP, signaling international confidence in the company's growth prospects.

Financial Performance

SDP's estimated annual revenue is between $25 million and $50 million, reflecting its substantial presence in the dental support sector.

Pipeline Development

SDP's growth strategy includes:

• Acquisitions and Affiliations: Continuing to acquire and affiliate with dental practices in the western United States to expand its network.

• Service Expansion: Enhancing the range of non-clinical support services offered to affiliated practices.

Technological Platform and Innovation

Proprietary Technologies

SDP utilizes a suite of digital tools to support its operations, including:

• Cloud Services: For secure data storage and management.

• SEO Tools: To improve online presence and patient engagement.

• Bot Management: Ensuring website security and optimal performance.

Significant Scientific Methods

While specific proprietary scientific methods are not detailed, SDP's focus on operational efficiency and support services indicates the use of best practices in business management and technology integration.

Leadership Team

Executive Profiles

• Lance Shopovick, Chief Executive Officer: With nearly 30 years of business leadership experience, including 14 years in dental practice support, Lance has served as CEO at Elite Dental Partners and SVP at The Aspen Group, overseeing over 500 practices across 32 states.

• Chet Jenkins, DDS, Chief Dental Officer and Chairman: Dr. Jenkins has over 20 years of experience as a clinician and dental management executive, having founded and grown a network of dental practices in the Mountain and Southwest regions.

• Kim McCrady, RDH, Chief Strategy Officer: With more than 35 years in the dental industry, Kim has transitioned from clinical roles to senior operations, offering extensive support for hygienists and operational management.

• Bobby Harden, President and Chief Development Officer: Bobby brings over 15 years of experience in accounting, finance, and M&A transactions, having worked at Ernst & Young and focusing on private equity acquisitions in healthcare.

• Laura Bell, Chief Financial Officer: Laura has over 15 years of healthcare leadership experience, including roles in clinical laboratory, blood services, and women's health, with a proven track record in optimizing processes and driving business growth.

• Jason Nelson, DDS, Co-Chief Dental Officer: Dr. Nelson has over 10 years of experience with Signature Dental, including senior management of multi-office dental groups, and holds a DDS from The Ohio State University.

Competitor Profile

Market Insights and Dynamics

The dental support organization (DSO) market is experiencing significant growth, with several DSOs recognized among the fastest-growing U.S. companies. This expansion is driven by the increasing demand for dental services and the benefits of centralized business support.

Competitor Analysis

Key competitors in the DSO sector include:

• Heartland Dental: Manages over 1,700 offices in 39 states, ranking #3,988 on the Inc. 5000 list with a 114% growth.

• MB2 Dental: Operates 700 practices in 42 states, ranking #2,418 on the Inc. 5000 list with a 214% growth.

• Guardian Dentistry Partners: Manages 130+ practices across 11 states, ranking #384 on the Inc. 5000 list with a 1,153% growth.

Strategic Collaborations and Partnerships

SDP's strategic partnership with Mitsui & Co., Ltd. in October 2022 has provided additional resources and expertise to support its growth and expansion plans.

Operational Insights

SDP differentiates itself by being founded and led by both a dentist and a hygienist, offering a unique perspective that combines clinical insight with administrative expertise. This foundation allows SDP to provide exceptional support to dental professionals, addressing both clinical and operational needs.

Strategic Opportunities and Future Directions

SDP plans to continue expanding its network of affiliated practices in the western United States, leveraging its strategic partnerships and comprehensive support services to enhance operational efficiency and profitability for dentists. The focus on collaboration and tailored support positions SDP to achieve sustained growth and success in the evolving dental industry.