How to Sell a Dental Practice · As Featured On Inside the Blueprint on Bloomberg TV and Fox Business News · Confidential conversations only · (888) 858-7191
CGK Business Brokers & M&A Advisors · A composite story about how to sell a dental practice

This is Dr. Wildhorse’s story.

How to sell a dental practice at the right time, to the right buyer, for the right price is the question Dr. Sarah Wildhorse had been turning over for nearly two years before she picked up the phone. When the right time came, she called CGK Business Sales. Sarah ran a $4.8M revenue, $1.6M EBITDA general dentistry practice across three offices in the Brentwood and Franklin area of suburban Nashville, with 33 W-2 employees including two associate dentists, twelve hygienists, and an admin and clinical bench of eighteen. The work split across three lines: general dentistry made up about 65 percent of revenue, cosmetic dentistry including veneers, whitening, and full smile-design cases made up about 20 percent, and Sarah’s Diamond+ Invisalign clear-aligner practice made up the remaining 15 percent (Diamond+ being the top tier of Invisalign provider designation, held by roughly the top one percent of providers nationally). About 5,200 active patients moved through the three offices on a recall cycle. She was 53. She had founded the practice in 2004 right out of dental school after a Cherokee Heritage upbringing in Tahlequah Oklahoma and an Indian Health Service rural rotation that had shaped her clinical philosophy, and she had built the practice over twenty-two years from a single chair in a leased Franklin Road suite into a three-office Williamson County footprint. Her husband Mike, a former Vanderbilt University Medical Center cardiologist, had retired in 2025 after thirty-one years and they wanted to travel together. Her daughters Ava and Maya, twenty-four and twenty-one, had finished Vanderbilt and Sewanee and neither was going to take the practice. The dental consolidation thesis had been live for fifteen years, with PE-backed Dental Service Organizations (DSOs) calling firms in her revenue band more aggressively over the prior two years. She came to us in early 2025 because she was thinking seriously about what came next and did not know who else to talk to about how to sell a dental practice at this size, with this Diamond+ Invisalign profile, in a market where the buyer pool reshuffled around DSO acquisition theses that did not exist a decade ago. This page is what happened next, and what could happen for you. Sarah is a composite, not a single real CGK seller, but the patterns and details are pulled from real dental engagements.

9 of 10 engagements close 5.0 ★★★★★ from 100+ Google reviews 15+ years selling privately-held dental practices
Chapter 1

The night before Sarah called us.

Most owners who decide to sell a dental practice have been thinking about it quietly for a year or two before they pick up the phone. Sarah was no different. She was 53. For twenty-two years she had been the lead clinician on every complex restorative case, the senior provider on every full-arch cosmetic case, the Diamond+ Invisalign provider on the practice’s clear-aligner book of business, the recruiting and mentoring lead for every new associate dentist and every new hygienist, the after-hours escalation for every patient emergency that landed at the principal’s door, and the operations principal who had migrated the practice from Dentrix to Eaglesoft in 2018 and built the integration with the practice’s CEREC same-day-crown technology and Solea soft-tissue laser. The practice did $4.8 million in annual revenue, $1.6 million in EBITDA at dental-typical 33 percent margins, 33 W-2 employees including two associate dentists (Dr. Mark Chen and Dr. Priya Patel) plus twelve hygienists and an eighteen-person admin and clinical bench, and three offices anchored on Franklin Road in Brentwood with satellite locations in Franklin (opened 2014) and Cool Springs (opened 2019). About 5,200 active patients moved through the recall system. The practice ran on Eaglesoft for practice management and was in-network with the major dental carriers active across Tennessee: BlueCross BlueShield TN, Delta Dental, Cigna, MetLife, and Aetna. Case-acceptance was running at 92 percent against an industry average of 40 to 60 percent, hygiene-recall was running at 87 percent against an industry average of 75 percent, the Invisalign book was booked eighteen months forward, and the cosmetic veneer book was booked four months forward.

Why owners decide to sell a dental practice

Sarah’s hands, neck, and lower back had carried twenty-two years of dentistry. The small repetitive postures of a clinical day at the chair had compounded into the kind of accumulated wear that quietly tells a fifty-three-year-old principal that the runway for full-time clinical work is shorter than the runway she had assumed at forty. Her husband Mike, a Vanderbilt University Medical Center cardiologist for thirty-one years, had retired in 2025 and was waking up most mornings making coffee in the Franklin farmhouse kitchen and asking what trips were on the calendar. Her daughters Ava and Maya were twenty-four and twenty-one, fresh out of Vanderbilt and Sewanee respectively, neither was going to take the practice, and Sarah had spent the prior winter realizing the next ten years of her life would be defined by what she chose to do with her days rather than by what the practice required of her hands. The bigger pressure was the consolidation thesis: the dental M&A market had been live for fifteen years and the calls from PE-backed DSO platforms had been getting more frequent over the prior twenty-four months. Two peer practices in Williamson County had been acquired by DSO platforms in 2024 and 2025, with the buyer pool actively shopping for diligence-clean multi-office practices with strong cosmetic and Invisalign service-mix exposure. Sarah had been approached eleven times in the prior eighteen months: eight times by PE-backed DSO platforms in the platform-and-bolt-on phase, twice by larger Heartland-tier and Pacific-Dental-tier DSO consolidators with national platform footprints, and once by a regional dental practice management group building a Tennessee and Kentucky footprint under family-office capital rather than PE financing. Sarah did not know what her practice was actually worth at $4.8 million revenue and $1.6 million EBITDA. She did not know whether the buyers calling her were the right buyers for her two associate dentists, her twelve hygienists, and her admin and clinical bench. She did not know whether her Diamond+ Invisalign provider designation, her CEREC investment, and her in-network insurance posture were value drivers or table stakes. She did not have a single peer in her life who had ever sold a dental practice at this size and Diamond+ Invisalign profile.

That is the night she found CGK and submitted the form. We called her back at 8:39 the next morning, while Sarah was sitting in her Brentwood operatory between the morning hygiene check and her first restorative case of the day.

Chapter 2

The conversation we had on the first call.

The first call was 53 minutes. We did most of the listening.

Owners who think about how to sell a dental practice in their early-fifties, like Sarah, usually carry the same handful of pressures into the first call. Sarah talked about her two associate dentists and the way each one carried a different kind of book (Dr. Chen had been with the practice eight years and was the second-chair on most complex restorative and CEREC cases, Dr. Patel had been there four years and had built her own following on family-and-pediatric general dentistry plus a growing cosmetic book). She talked about her twelve hygienists and the recall culture she had built, where the seven longest-tenured hygienists each carried a personal book of two-to-three hundred patients who actively asked for them by name. She talked about her in-network insurance posture and the way each carrier had its own scope, fee-schedule, and pre-authorization idiosyncrasies that had taken years to learn (the way BlueCross BlueShield TN approached implant pre-authorizations, the way Delta Dental’s national fee schedule shifted by region, the way the local Cigna network operated differently from MetLife on full-arch cosmetic cases). She talked about her Diamond+ Invisalign tier and the way that designation actively drove referrals through the official Invisalign provider locator. She talked about her CEREC same-day-crown technology and Solea soft-tissue laser as practice differentiators that had cost real capital but had compounded over a decade. She talked about the staffing question (associate dentists were getting harder to recruit at her revenue band, and registered dental hygienists were a tighter labor market in 2025 than at any prior point in her career). We asked about the practice the way you would ask if you were trying to understand it, not the way you would ask if you were trying to win the engagement. What we were listening for was not just the financials. We were listening for whether Sarah was actually ready to sell, what she was working toward, and whether her expectations on price were grounded in what the dental market would actually support.

At the end of that call, we set up a working session: an in-person conversation where one of our Managing Directors would walk Sarah through our valuation model and tell her honestly what her practice was likely to command. We did not promise her a written report. Written valuations involve substantially more work, and we charge for those when a seller actually needs one for estate planning, a partner buyout, a divorce, or another documentary purpose. The walkthrough was free because Sarah was clearly thinking seriously about how to sell a dental practice, the way someone thinks about it before they actually do it. Whether that ends up being in a year, three years, or longer, we make the same call.

The valuation session was the following Tuesday at 7 a.m. at the Brentwood main office, before the daily 8:30 a.m. clinical huddle and after the morning hygiene-room set-up.

Chapter 3

Sarah was not ready to sell a dental practice yet. She went home and waited nine months.

The valuation session showed Sarah that her practice was worth meaningfully more than she had been hoping in some areas and meaningfully less in others, which is how these conversations usually go. The Diamond+ Invisalign designation, the eighteen-month forward-booking on aligner cases, the four-month forward-booking on cosmetic veneers, the 92 percent case-acceptance rate, and the 87 percent hygiene-recall rate were premium-multiple drivers a sophisticated DSO buyer would pay up for. Two issues, though, were dragging the number down. The first was associate-dentist depth. Dr. Chen and Dr. Patel were both genuinely strong, but neither had been formally credentialed across all of the specialty workflows Sarah personally drove (the complex restorative cases, the full-arch cosmetic work, the Invisalign Diamond+ aligner book), and a sophisticated DSO buyer’s diligence team was going to underwrite the loss-of-Sarah-clinical-production scenario aggressively. The second was the Eaglesoft data hygiene. Sarah had migrated from Dentrix in 2018 and the data lineage was clean, but the practice had not been pulling buyer-grade reports out of Eaglesoft on case-acceptance, hygiene-recall, recall-no-show rates, insurance write-offs by carrier, or production-by-provider. The buyer pool, especially the PE-backed DSO platforms, paid premium multiples for documented case-acceptance and recall metrics because those metrics translate directly into the financial models DSO platforms run on the practices they acquire.

We told Sarah honestly: she could go to market now and accept the discount, or she could spend six to nine months credentialing both associate dentists into the Invisalign Preferred-tier provider designation and the complex restorative workflows, formally documenting the practice operating metrics into a sixty-page diligence-grade report (case-acceptance by provider and by service line, hygiene-recall by hygienist and by recall-cycle stage, recall-no-show rates with weather and seasonal adjustments, insurance write-off rates by carrier, production-by-provider trends, the Diamond+ Invisalign provider data feed exports), packaging her three-office geography into a clean diligence asset (lease terms, equipment depreciation schedules per office, patient-mix and recall-cadence by office, intra-office referral flows), and tightening the in-network insurance posture documentation so the carrier-by-carrier story could be inspected. We said the second path would likely command a meaningfully better number from a wider range of buyers, especially the patient-capital DSO platforms and the regional dental practice management groups that pay premiums for diligence-clean dental practices with documented Diamond+ Invisalign and cosmetic exposure.

This is the part most brokers skip. Most brokers would have signed Sarah that day, taken her to market, and made the commission whether or not the deal was the best one for her. We told her to wait, even though it meant we did not get paid for nine months and might never get paid at all if she changed her mind.

Sarah went home and waited. She spent the next nine months credentialing both associate dentists into Invisalign Preferred-tier provider status and the complex restorative workflows, packaging the operating metrics into a diligence-ready report with case-acceptance by provider and service-line, formalizing the Eaglesoft data hygiene into a packageable diligence asset, and tightening the in-network insurance documentation across BlueCross BlueShield TN, Delta Dental, Cigna, MetLife, and Aetna. She read up on dental M&A through resources from the American Dental Association and the Academy of General Dentistry while she watched DSO transaction news through the trade press. She called us back in late 2025 and said she was ready to sell a dental practice that was finally in the shape it needed to be in.

Chapter 4

What we did when Sarah came back.

What it takes to sell a dental practice properly

When an owner is ready to sell a dental practice with CGK, the speed of the on-ramp surprises them. We took Sarah’s practice to market in just under five weeks once she got us her updated financials, the sixty-page operating metrics report, the case-acceptance and hygiene-recall data with provider-level and hygienist-level breakouts, the Eaglesoft production-by-provider report with five years of trailing data, the associate-dentist credentialing documentation across all clinical workflows, the Diamond+ Invisalign provider data feed exports with eighteen-month forward bookings, the CEREC and Solea utilization metrics by office, the three-office lease terms and equipment depreciation schedules, the in-network insurance posture documentation across all five carriers, and the full P&L breakouts across general dentistry, cosmetic, and Invisalign service lines. The blind teaser went out to 36 buyers we had pre-qualified, a smaller funnel than a non-dental engagement because the DSO buyer pool is concentrated and the highest-quality buyers actively shop the dental space. Buyers fell across five buckets we routinely use to think about how to sell a dental practice: PE-backed DSO platforms in the platform-and-bolt-on phase (the most active band of consolidators on dental practices in the $3M to $15M revenue range), top-tier DSO platforms with national footprints and long-hold theses (Heartland Dental, Aspen Dental, MB2 Dental, Pacific Dental Services, Smile Brands and adjacent platforms), regional dental practice management groups building state-and-regional platforms under family-office or operator-CEO capital with no PE backing, individual dentist-buyers using SBA-leveraged or personal capital, and a small set of strategic acquirers from adjacent dental verticals (dental specialty platforms looking to integrate general dentistry, dental-imaging and CAD-CAM platforms looking to internalize clinical capability). Each bucket prices the same dental practice differently, and most of them are members of trade groups like the International Business Brokers Association and the M&A Source, both of which CGK actively participates in.

Twenty-four of those buyers signed NDAs and received the full Confidential Information Memorandum. Fourteen submitted Indications of Interest after data-room review. Eight advanced to Letters of Intent. We narrowed to five for management presentations. Three re-submitted refined LOIs after the management meetings. Two went into a final-final negotiation cycle.

Sarah decided between two of the top LOIs. They were materially different. One was a higher headline price from a top-tier national DSO platform that wanted to absorb Sarah’s three-office practice into a national network of acquired practices, with a conventional escrow structure, a five-year associate-retention earnout that hinged on production-by-provider hitting threshold targets (a structure Sarah found uncomfortable because production targets are not fully within her control once she scales back to part-time), a fee-schedule-harmonization mandate that would have shifted the practice off its existing in-network postures and onto the platform’s national fee schedule, and a fund-cycle long-hold horizon. The other was a slightly lower headline price from a top-tier DSO platform with a long-hold patient-capital thesis, no five-year fund-cycle pressure, a willingness to operate the three offices under their existing brand identity and existing in-network insurance postures, a thesis around preserving local-practice identity, and a willingness to integrate Dr. Chen and Dr. Patel along with the twelve-hygienist book without rerouting anything through a national playbook. We walked Sarah through what each LOI would actually deliver under realistic and pessimistic scenarios, including what the cultural continuity would look like for her two associate dentists, her twelve hygienists, and her eighteen-person admin and clinical bench under each owner. The patient-capital DSO deal was the better one for Sarah. The cash position day one was meaningfully stronger when normalized for the absence of the production-by-provider earnout, the brand and fee-schedule preservation was structurally cleaner than a forced harmonization, and the cultural fit with a long-hold platform that valued preserving local-practice identity over fund-cycle exits mattered to Sarah deeply. She took it.

Through the whole process, the same CGK Managing Director who had taken Sarah’s first call nine months earlier was the person walking her through every conversation.

Chapter 5

What the deal actually looked like.

How the deal looks when you sell a dental practice with CGK

This is the part of how to sell a dental practice that gets the least attention in the trade press and the most attention from owners who have actually closed a deal: the structure of the consideration package matters more than the headline number. Sarah’s deal closed roughly six months after we restarted the engagement. The buyer was a top-tier PE-backed DSO platform with a national footprint of more than 800 acquired dental practices, capitalized at roughly $2.4 billion in pre-acquisition revenue, expanding their Tennessee footprint with Sarah’s three-office Williamson County practice as the regional anchor. The platform was structured on a long-hold patient-capital thesis (10-plus years), positioned for an eventual strategic exit to a larger DSO platform or to a strategic acquirer, and operated acquired practices under their original brand names rather than absorbing them into a single national identity. They acquired Sarah’s three offices as a stock purchase, with the practice operating as a discrete branch under the platform’s regional operating structure, retaining its existing brand identity, its existing in-network insurance postures across BlueCross BlueShield TN, Delta Dental, Cigna, MetLife, and Aetna, its CEREC and Solea clinical technology, its Eaglesoft practice management system, and its Diamond+ Invisalign provider designation through the official Invisalign locator, and integrating into the platform’s broader Tennessee operations infrastructure over the first year on central admin, billing, insurance posting, and HR.

The headline price was approximately $9.6 million, roughly six times trailing EBITDA, which is a premium DSO multiple driven by the Diamond+ Invisalign tier, the three-office geography, the 92 percent case-acceptance rate, and the cosmetic-and-aligner service-mix exposure. About 78 percent of it came as cash at closing, funded by the platform’s PE sponsor capital plus the senior credit facility the platform draws on for acquisitions. About 7 percent was held back in escrow for 12 months to cover indemnification claims, a working-capital adjustment, and small carve-outs for any insurance-billing or pre-authorization issues that could surface during the transition window. About 15 percent was a rollover equity stake into the platform’s holding company, structured at the holding-company level (not the practice-level operating entity), giving Sarah upside exposure to the platform’s eventual long-hold exit to a larger DSO or strategic. The rollover-at-holdco structure aligned the platform’s operating thesis with Sarah’s interest in seeing her practice continue to grow under the new ownership, which was a structural advantage neither party would have gotten under a more conventional production-target earnout. Wire hit on a Friday morning at 8:47 a.m. while Sarah was at the Brentwood main office.

Sarah stayed on as the principal Selling Doctor and clinical mentor for the platform’s combined Tennessee operations for fourteen months after closing, dropping to part-time clinical (two days a week, focused on Diamond+ Invisalign cases and complex restorative work that Dr. Chen and Dr. Patel were transitioning into) so she could personally introduce her two associate dentists, her twelve hygienists, and her eighteen-person admin and clinical bench to the new ownership, walk through every in-network insurance carrier relationship and every TPA pre-authorization workflow, lead the integration of two follow-on tuck-in acquisitions the platform completed in the twelve months post-close in adjacent Davidson and Rutherford County markets, and shape the regional clinical mentorship strategy across the platform’s broader Tennessee footprint. After fourteen months, Sarah stepped back to a quarterly clinical-advisor role that gave her room to start the pre-dental student mentorship work she had been thinking about for two years through Vanderbilt’s pre-health program.

Chapter 6

What happened to Sarah’s people.

The people-side of how to sell a dental practice usually weighs heavier on the principal than the financial-side, even when the financial-side is what triggers the call to a broker in the first place. Sarah cared most about her two associate dentists Dr. Chen and Dr. Patel, the twelve hygienists who had spent on average eleven years building patient books in her recall system, the eighteen-person admin and clinical bench (front-desk leads who knew the patient base by name, sterilization techs who had been trained by Sarah personally, dental assistants who had moved up through the practice over a decade), and the patient base of 5,200 active families across Williamson County who had built fifteen and twenty year relationships with the practice. The patient-capital DSO platform was a long-hold operator who would actually run the three offices under the existing brand identity rather than parachute in regional operations consultants from a fund-cycle integration playbook. That made the people part substantially cleaner than it would have been under the higher-headline-price national DSO that wanted to harmonize the fee-schedule against a national standard and absorb the practice into a single national identity.

The buyer kept all 33 W-2 employees, honored the existing pay structure across associate dentists, hygienists, and admin and clinical bench, and committed to keeping Dr. Chen and Dr. Patel in their roles with expanded scope including a pathway to junior-equity participation in the regional Tennessee operations. The credentialing work Sarah had done during the wait period (elevating both associates to Invisalign Preferred-tier and across the complex restorative workflows) was preserved with formal stay-bonus packages tied to three-year performance windows. The twelve hygienists were preserved with retention bonuses scaled to tenure and book size. The Eaglesoft system was retained as the practice-management system across all three offices. The Diamond+ Invisalign provider designation transferred cleanly under the new ownership through the Invisalign locator update process. The CEREC and Solea clinical technology was preserved across the three offices and the platform committed to refreshing the equipment depreciation schedule in years three and four post-close.

Sarah was at the Brentwood main office at 8:47 on a Friday in late summer 2026 when the wire confirmation came through. She walked through the office, said good morning to Dr. Patel and Dr. Chen who were both setting up for the morning’s first cases, and then drove the seven miles home to her Franklin farmhouse where her husband Mike was making coffee. She said: “It’s done.” Mike teared up. They sat on the back porch overlooking their six acres for an hour without talking, watching the morning fog burn off the pasture. Then Sarah picked up the phone and called her mother in Tahlequah Oklahoma and spoke to her in Cherokee for twenty minutes about what the ancestors would have made of a Cherokee dentist who had grown up in the Heritage and gone through dental school in the late nineties selling the practice she had built for nearly ten million dollars. Her mother had carried Sarah to her first day of dental school in Oklahoma in 1999 and had stayed with her in Memphis through the rural rotation week, and now her mother was eighty-one and her grandchildren had all finished college, and the conversation that morning was the longest the two women had spoken in Cherokee in five years.

Chapter 7

What Sarah told us afterward.

Why owners who sell a dental practice with CGK keep coming back

Most owners who sell a dental practice do not call the broker again in the first year. The ones who do call usually want to talk about the parts of the engagement that, in retrospect, mattered more than they realized at the time. About four months after closing, Sarah called the Managing Director who had run her engagement. She said two things that the Managing Director still tells new sellers about.

The first was about the nine-month wait. She said: “Three of the buyers who had been calling me were ready to move in thirty days, and four different practice-transition advisors I talked to before you told me they could take me to market right then with the associate-dentist credentialing question wide open and the Eaglesoft operating metrics still sitting in PDF reports nobody had pulled. The reason I sold with you is that you told me the truth about how my Diamond+ Invisalign designation was actually being valued by DSO buyers, the truth about what the loss-of-Sarah-clinical-production scenario would look like in a sophisticated DSO’s diligence, and the truth about what packaging the Eaglesoft case-acceptance and hygiene-recall metrics would buy me in LOI conversations a year later. You told me what would happen to the price if I went out without fixing those things. I would have left more than a million dollars on the table.”

The second was about who she sold to. She said: “I almost signed with the higher-headline-price national DSO because the number on the top line was bigger and the presentation was slick. The fact that you walked me through what each buyer would actually do with my associate dentists, my hygienists, and the in-network insurance postures I had spent fifteen years building, what each buyer’s hold horizon would mean for the three offices three and five years out, and how a long-hold patient-capital DSO with a brand-preservation thesis was structurally different from a fund-cycle DSO that wanted to harmonize the fee schedule against a national playbook, is a conversation I never even thought to have until you raised it. I sold to a buyer who is going to keep this practice the practice that my patients walk into and recognize.”

This is what we mean when we say we sit with you in the decision, not just the transaction. Sarah is one composite story, but the pattern is real. The owners we work with who decide to sell a dental practice usually find their way to us through versions of Sarah’s situation, and the relationships start with a long listening session and a free walkthrough, not a pitch.

Now It Is Your Turn

Ready to sell a dental practice? Where are you in Sarah’s story?

If you are starting to think about how to sell a dental practice, we should talk. There is no commitment and no pressure. The first conversation is free. The valuation walkthrough that follows is free when you are seriously thinking about selling, whether that is in a year, five years, or longer. We only charge for formal written valuations, and only when you actually need one for estate planning, a partner buyout, or another documentary purpose. Submit the form and a senior CGK Managing Director will reach out within one business day.

If you are Sarah at month 1: just exploring

You are not sure if you want to sell yet. The DSO consolidation thesis keeps shifting, your associate-dentist bench is thinner than you would like, your operating metrics are strong but you have not packaged them for a buyer, your hands are starting to tell you something, your spouse has retired, your kids are not going to take the practice, you are curious about how a buyer would value your general versus cosmetic versus Invisalign service-mix exposure, or maybe a PE-backed DSO platform or a top-tier national DSO has been calling you. Most of our best engagements start here. Submit the form and we will schedule a working session. You walk away with a real number and a clear sense of what to do next, with no obligation to do anything.

If you are Sarah at month 9: ready to go

You have done the work to clean up the practice. The financials are tight. Your associate-dentist credentialing is documented across the workflows you personally drive. Your operating metrics are packaged in a buyer-ready report (case-acceptance by provider, hygiene-recall by hygienist, recall-no-show rates, insurance write-off rates by carrier, production-by-provider trends). Your in-network insurance posture is documented carrier-by-carrier. Your Eaglesoft data lineage is clean and packaged. Your three-office (or two-office, or single-office) geography has lease terms, equipment depreciation schedules, and intra-office referral flows mapped. Maybe a buyer is already in the conversation. You want to run a real process. Submit the form and we will be in touch within a business day to talk about timing, scope, and what your first 30 days as a CGK seller would look like.

If you are not sure where you are

Most owners are not sure. Submit the form and start with the conversation. We will figure out together where you are. We are equally happy to tell you to wait twelve months as we are to take you to market in three weeks.

Or call us directly at (888) 858-7191.

Start your own story

A senior CGK Managing Director will respond within one business day. Strictly confidential. For owners of dental practices doing $1.5M+ in annual revenue, including general dentistry, cosmetic dentistry, Invisalign-heavy clear-aligner practices, single-office and multi-office groups, and integrated practices with CEREC and digital-imaging investment. The first conversation and the valuation walkthrough that follows are free for any seller seriously thinking about selling, on any horizon.

Confidential. No obligation. Direct routing to a named CGK business broker, not a junior screener.

The CGK Managing Directors Who Help Owners Sell a Dental Practice

One of these eight people would lead your engagement.

When you decide to sell a dental practice with CGK, one named senior Managing Director stays with you from the first call through the wire transfer, just like Sarah’s Managing Director stayed with her for nine months and then for the engagement that followed. Our Managing Directors come from Wall Street investment banks, hedge funds, Fortune 500 corporate finance, and operating-business leadership. Cornell MBA. U Chicago Booth MBA. CFA. CMT. Naval Academy. Goldman Sachs. Merrill Lynch. Deutsche Bank. AIG. T. Rowe Price.

Greg Knox, MBA, CFA, CAIA, FDP, Managing Principal, helping owners sell a dental practice
Greg Knox
MBA, CFA, CAIA, FDP · Managing Principal
Cornell MBA · Master of Data Science (Michigan) · Deutsche Bank · T. Rowe Price · Wachovia
Wes McDonough, CGK Managing Director, dental practice broker
Wes McDonough
Managing Director
25+ years M&A, corporate finance, and entrepreneurship · Former operations leadership at a privately-held global talent solutions firm · High school valedictorian
Myres Tilghman, CMT, CGK Managing Director, M&A advisor for dental practices
Myres Tilghman
CMT · Managing Director
25-year career in finance & capital markets · 18 years trading international derivatives for hedge funds · MA Economics, U Richmond
Derik Polay, CGK Managing Director
Derik Polay
Managing Director
25+ years M&A and distressed securities · Former MD at IFI Capital · Former SVP at Fulcrum Capital
Matthew Mistica, MBA, CGK Managing Director who advises owners on how to sell a dental practice
Matthew Mistica
MBA · Managing Director
15+ years finance & entrepreneurship · 7 years Corporate Finance at Chevron and Shell · Cal Poly SLO & University of Houston MBA
Jason Clendaniel, CGK Managing Director
Jason Clendaniel
USNA · Managing Director
U.S. Naval Academy graduate (BS Economics with Honors) · 10 years Naval Officer · 10+ years S&P 500 Sales, BD, M&A
Eric Lewis, MBA, CGK Managing Director
Eric Lewis
MBA · Managing Director
20+ years financial industry · Goldman Sachs · Merrill Lynch · Cargill · TD Options · U Chicago Booth MBA · UT Austin
Matthew Zienty, CGK Managing Director
Matthew Zienty
Managing Director
25+ years financial industry · Deutsche Bank · SunAmerica Securities · AIG Financial Advisors · Former VP overseeing 45 nationwide sales offices

What sellers say after they sell a dental practice (and other businesses) with CGK

5.0 ★★★★★ from 100+ Google reviews across our offices

I could not be happier with the experience I had selling my business with CGK. Greg did a detailed analysis of my business and helped me price and position it right for the market. After receiving multiple offers at full asking price, the rest of the process went very smoothly, and we closed in less than two months.

Hanna M. Service Business Seller · Closed in under 2 months at full asking

Selling my business was a once-in-a-lifetime experience, and I’m incredibly grateful to have had Wes by my side throughout the process. He brought perspective, pushed when necessary, and always had my best interests in mind. His experience and strategic approach allowed me to maximize the sale price while minimizing long-term risk and obligations. If I had to do it all over again, I wouldn’t hesitate to choose him as my broker.

Adam Neville CGK Seller · Worked with Wes McDonough

Derik located multiple interested strategic buyers that produced more than one serious offer. The negotiations were tough but Greg and Derik’s experience helped us overcome. We got a great result for our employees and for the owners. We would recommend them without reservation.

Bob Taylor CGK Seller · Worked with Derik Polay & Greg Knox

We sold a business that was 47 years old and being run by second generation within a year of working with Wes. CGK has a system that attracts serious prospects to review opportunities. Wes was able to make the overwhelming feeling of selling easy and to a certain extent enjoyable. I never felt alone or in the dark throughout the entire process.

Jennifer Williams CGK Seller · Worked with Wes McDonough

We decided to sell our company in 2025. Talked to another M&A company in the Houston area. We felt very comfortable with Greg and Matthew at CGK. Could not have made a better choice. From day 1 till final closing and even after 30+ days, they have been here helping us with documents and support during the transition. Thanks can not be said enough.

Rickey Thomas CGK Seller · Worked with Matthew Mistica & Greg Knox
As Featured On

Inside the Blueprint, on Bloomberg TV and Fox Business News.

Sarah’s husband Mike, a former Vanderbilt cardiologist, is the one who first sent her a clip of CGK on Bloomberg. He had been watching the segment in their Franklin farmhouse kitchen on a Saturday morning and recognized the firm name from a dental-trade article about how to sell a dental practice he had clipped from Dental Economics three months earlier and slid across the kitchen counter to her. He sent her the link with a note that read “Sarah, this is the firm.” CGK Business Sales is featured on Inside the Blueprint, the syndicated business television series. Our episode aired on Bloomberg TV and Fox Business News. Watch the segment, then start a confidential conversation.

Featured On: Bloomberg TV
Featured On: Fox Business News
CGK Offices

The CGK office Sarah called was the CGK Nashville office. Yours might be one of these.

When you sell a dental practice with CGK, whichever office you reach, you get the entire firm. Sarah worked with a CGK Managing Director based out of the firm’s Nashville office, but her deal benefited from a buyer pool we sourced firm-wide, including the patient-capital top-tier DSO platform that ultimately won the engagement. Click any city to learn about our local presence and the named Managing Director leading that market.

Austin, TX
2720 Bee Caves Road
Austin, TX 78746
(512) 900-5960
Baltimore, MD
111 S Calvert St
Baltimore, MD 21202
(410) 777-5759
Colorado Springs, CO
102 S Tejon St
Colorado Springs, CO 80903
(719) 471-0115
Dallas, TX
325 N Saint Paul St
Dallas, TX 75201
(469) 998-1968
Denver, CO
1600 Broadway
Denver, CO 80202
(303) 974-7978
Houston, TX
1200 Smith St
Houston, TX 77002
(713) 588-0240
Louisville, KY
312 S 4th St
Louisville, KY 40202
(502) 287-0332
Nashville, TN
424 Church St
Nashville, TN 37219
(615) 800-7118
Phoenix, AZ
40 N Central Ave
Phoenix, AZ 85004
(602) 714-7470
San Antonio, TX
700 N Saint Mary’s St
San Antonio, TX 78205
(210) 526-0094
Washington, DC
1050 Connecticut Ave NW
Washington, DC 20036
(202) 888-6120

Other Questions Sarah and Other Dental Sellers Ask Us

Practical answers to what comes up before, during, and after the kind of engagement Sarah went through, when you sell a dental practice with CGK.

What size dental practices does CGK sell?
CGK works with privately-held dental practices doing at least $1.5 million in annual revenue and $300,000 or more in Seller’s Discretionary Earnings or EBITDA. Our process is tailored for general dentistry, cosmetic dentistry, and Invisalign-anchored practices from single-office solo-doctor groups through multi-office regional dental groups up to roughly $20 million in revenue. We have closed dental engagements across most sub-segments: solo-doctor general dentistry practices, family-and-pediatric general dentistry groups, cosmetic-anchored practices with strong veneer and smile-design books, Diamond and Diamond+ Invisalign provider practices with deep clear-aligner exposure, multi-office regional groups with two-to-five locations, integrated practices with CEREC same-day-crown technology and digital-imaging investment, and in-network practices with deep insurance-carrier postures across BlueCross BlueShield, Delta Dental, Cigna, MetLife, and Aetna.
What multiples do dental practices typically sell for, and how does the general-versus-cosmetic-versus-Invisalign mix change the number?
Dental multiples vary widely by service mix (general, cosmetic, Invisalign), case-acceptance rate, hygiene-recall rate, in-network insurance posture, associate-dentist bench depth, geographic footprint and office count, and the strength of the practice-management data hygiene. Practices with a healthy cosmetic and Invisalign mix (15 to 30 percent of revenue), Diamond or Diamond+ Invisalign provider designation, two-deep associate-dentist bench coverage on the workflows the principal personally drives, case-acceptance running at 80-plus percent, hygiene-recall running at 80-plus percent, multi-year clean Eaglesoft or Dentrix data hygiene, and clean in-network insurance billing histories tend to command meaningfully higher multiples than single-office practices with general-dentistry-only service mix, single-doctor bench risk, weak case-acceptance documentation, or unsettled insurance billing histories. The dental buyer pool is dominated by PE-backed DSO platforms and the top-tier national DSOs, which means premium multiples for diligence-clean practices with documented operating metrics, and meaningful discounts for practices with weak data tracking. The right answer depends on the comparable transactions in your sub-segment and revenue band, the buyer pool currently active in your geography, and how the deal is structured. A free CGK valuation conversation is the fastest way to narrow that range to your dental practice specifically.
Do I sell to a DSO, a strategic acquirer, or an individual dentist-buyer?
All three buyer types are active in the dental market and each prices a practice differently. PE-backed DSO platforms (the most active band of buyers on practices in the $3M to $15M revenue range) underwrite long-hold cash-flow models and pay premium multiples for diligence-clean practices with documented case-acceptance, hygiene-recall, and in-network insurance retention; the trade-off is that DSO buyers run an integration playbook that typically harmonizes some combination of admin, billing, insurance posting, fee-schedule, and HR. Top-tier national DSO consolidators (Heartland Dental, Aspen Dental, MB2 Dental, Pacific Dental Services, Smile Brands and adjacent platforms) underwrite the same long-hold thesis at scale and either preserve original brand identity or absorb practices into a single national identity depending on the platform. Regional dental practice management groups under family-office or operator-CEO capital (no PE backing) underwrite long-hold patient-capital theses with structurally cleaner brand-and-fee-schedule preservation. Individual dentist-buyers using SBA-leveraged or personal capital typically operate at smaller revenue bands (sub-$3M) and underwrite owner-operator economics rather than platform-integration economics. CGK’s structured process makes the right buckets compete against each other so the highest-quality buyer for your specific practice surfaces.
How does my in-network insurance posture and customer-concentration profile affect the sale?
In-network insurance posture is one of the most under-quantified value drivers in dental valuations. Sophisticated DSO buyers will run extensive diligence on your carrier-by-carrier insurance posture, your fee-schedule history with each carrier, your write-off rates by carrier, your pre-authorization workflow documentation, and your patient mix by insurance type (in-network, out-of-network, fee-for-service, capitation, public payer). A practice with deep multi-carrier in-network postures, low write-off rates, clean pre-authorization workflow histories, and a balanced patient mix across the major commercial carriers (BlueCross BlueShield, Delta Dental, Cigna, MetLife, Aetna) commands premium multiples because the DSO buyer can underwrite top-of-funnel patient flow under their integration playbook without harmonizing the fee schedule. Customer-concentration is generally less of a concern in dental than in other healthcare verticals because patient bases are diversified, but practices with heavy single-carrier dependency (above 35-to-40 percent of revenue from a single insurance carrier) get diligenced harder because the buyer underwrites the carrier-policy-shift scenario aggressively.
Who buys dental practices in the $3M to $15M revenue range?
Buyer pools for dental practices at the $3M to $15M revenue range generally fall into five buckets: PE-backed DSO platforms in the platform-and-bolt-on phase (the most active band of consolidators in this revenue range, with multiple platforms expanding nationally and regionally on a long-hold consolidation thesis), top-tier national DSO consolidators with national footprints and long-hold strategic theses (Heartland Dental, Aspen Dental, MB2 Dental, Pacific Dental Services, Smile Brands and adjacent platforms), regional dental practice management groups building state-and-regional platforms under family-office or operator-CEO capital (no PE backing), individual dentist-buyers using SBA-leveraged or personal capital (typically active at the lower end of this range), and a small set of strategic acquirers from adjacent dental verticals (dental specialty platforms looking to vertically integrate general dentistry, dental-imaging and CAD-CAM platforms looking to internalize clinical capability). Each bucket prices the same practice differently. CGK’s structured competitive process makes them compete against each other so the highest-quality buyer for your specific practice surfaces.
How much does CGK charge to sell a dental practice?
CGK works on a success-fee basis. You pay nothing upfront and nothing if the practice does not sell. The percentage depends on transaction size and complexity, and we walk through the exact terms during our first confidential conversation. There is no retainer and no monthly fee.
How long does it take to sell a dental practice?
Most CGK dental engagements close 6 to 9 months from signed engagement to wire transfer, in line with the typical CGK engagement window and slightly tighter than the cross-vertical median because the DSO buyer pool is concentrated and moves on diligence-clean practices quickly. CGK can take a dental practice to market in as little as four to five weeks once a seller provides clean financials and the right operational detail (Eaglesoft or Dentrix exports with five years of trailing data, case-acceptance and hygiene-recall reports by provider and by hygienist, production-by-provider trends, in-network insurance posture documentation across all carriers, associate-dentist credentialing documentation by clinical workflow, Diamond or Diamond+ Invisalign provider data feed exports, CEREC and digital-imaging utilization metrics, lease terms and equipment depreciation schedules per office, and full P&L breakouts across general dentistry, cosmetic, and Invisalign service lines). Diligence-clean practices with documented case-acceptance and hygiene-recall metrics and two-deep associate-dentist bench coverage tend to land at the faster end of that window. Practices with unresolved associate-credentialing or insurance-billing questions can take longer because the data room has to absorb additional buyer-side diligence cycles.
Will my associate dentists, hygienists, and admin staff stay through the transition?
Doctor and staff retention is a top-two buyer concern on every dental engagement, second only to patient-base retention through the recall system, because the institutional knowledge of patient relationships, in-network insurance workflows, recall-cadence patterns, Eaglesoft or Dentrix configurations, and CEREC and clinical-technology workflows carries with the clinical and admin team, and a practice that loses that bench post-close immediately faces both production risk and patient-retention pressure. CGK screens buyers partly on integration track record and helps you negotiate associate-retention bonuses, role definitions, hygienist tenure-and-book protections, admin-staff pay-structure protections, and Diamond+ Invisalign provider continuity protections into the LOI before signing. The strongest deals lock in the associate dentists through three-to-five-year stay-bonus packages tied to production-by-provider thresholds, the long-tenured hygienists through two-to-three-year retention windows scaled to book size, and the admin and clinical bench through pay-structure protections that match or exceed the existing comp model. When the buyer is a long-hold patient-capital DSO platform that plans to actually preserve the local-practice identity rather than absorb operations into a national playbook, the retention question is structurally easier than under a fund-cycle DSO that expects to harmonize fee-schedules and consolidate operations into shared services.
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