24 July 2023

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Smile Doctors raises over $550M in funding

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Smile Doctors announced on July 19 the successful completion of a capital raise of over $550 million. The capital, which was funded by doctors along with several large domestic and international healthcare investors, 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. This investment comes as the company has just completed a strong quarter, adding several new partnerships, according to a news release.

J. Hedrick, CEO of Smile Doctors, said the organization has generated significant growth over the last three years.

"We continue to attract new doctors and invest in technology that contributes to the patient-first culture we are committed to at our organization," he said in the news release. "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."

Blackburn Family Orthodontics (Texas), Weaver Orthodontics (Arkansas), Smith Smile Orthodontics (Georgia), Weissman Orthodontics (Alabama) and Smiles of Ohio (Ohio) are the newest partners to join the Smile Doctors family. The Smile Doctors network now includes more than 400 affiliated locations.

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 Smile Doctors' turnkey relationships with leading vendors and gain access to the latest cutting-edge technology, which will be enhanced across the patient and provider experience.

"Since starting my practice seven years ago, I've had awesome mentors help me along the way," said Dr. James Blackburn, D.D.S., of Blackburn Family Orthodontics in Katy, Texas, who became part of the Smile Doctors network in Q2. 

"Over the past four years, each of my mentors has joined Smile Doctors," he said in the news release. "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."

About Smile Doctors, LLC

Smile Doctors, LLC, is the largest ortho-focused dental support organization (OSO) in the U.S. The organization has the fastest-growing network of leading orthodontists. With more than 400 convenient locations in 28 states, Smile Doctors has a rich history of developing and growing affiliated practices by providing tools and technology that allow their orthodontists to focus entirely on patient care. Smile Doctors is the largest network of Diamond Plus Invisalign® providers. Smile Doctors' orthodontists are proud members of the American Association of Orthodontists, and American Dental Association, and host for the Lecture Center for Orthodontic Excellence. Smile Doctors' mission is to create confident smiles that inspire the best in their patients, each other, and the communities they serve. For more information, visit: www.smiledoctors.com.