Smile Doctors, the leading and rapidly expanding orthodontics-focused dental support organization (OSO) in the United States, has announced a significant strategic investment that marks a new chapter in its growth trajectory. Thomas H. Lee Partners, L.P. (THL), a prominent private equity firm specializing in growth companies, has joined forces with existing investor Linden Capital Partners in an equal partnership to propel Smile Doctors into its next phase of development. This infusion of capital and expertise will empower Smile Doctors to further its mission of providing accessible, high-quality orthodontic care and creating confident smiles across the nation.
This strategic investment underscores the remarkable success and potential of Smile Doctors in the rapidly evolving dental landscape. With over 295 locations nationwide, Smile Doctors has established itself as a platform of choice for orthodontists seeking to enhance their practices and deliver exceptional patient experiences. The continued partnership with Linden Capital Partners, who initially invested in 2017, alongside the addition of THL, signals strong confidence in Smile Doctors’ vision and operational model. Critically, affiliated orthodontists will maintain a substantial ownership stake, ensuring their continued dedication to patient-centric care remains at the heart of the organization.
The leadership team at Smile Doctors is enthusiastic about the opportunities this new partnership unlocks. J. Hedrick, CEO of Smile Doctors, emphasized the alignment of values and strategic goals with the new investors. “Welcoming THL as our new partners is a momentous step for Smile Doctors,” Hedrick stated. “Together with Linden, we are ideally positioned to broaden our network, partner with more thriving practices, and enhance our service offerings. This collaboration reinforces our unwavering commitment to providing outstanding orthodontic treatment within our communities, fostering beautiful, confident smiles and delivering truly memorable patient journeys.”
THL’s decision to invest in Smile Doctors is rooted in the company’s proven track record and patient-focused approach. Joshua Nelson, Managing Director and Head of Healthcare at THL, highlighted Smile Doctors’ commitment to excellence, noting, “We are deeply impressed by Smile Doctors’ consistent delivery of best-in-class services and their exceptional levels of patient satisfaction. Our focus is on supporting their network of doctors as they continue to grow and extend this patient-centric model that sets them apart.” Megan Preiner, Managing Director at THL, further emphasized the appeal of Smile Doctors for clinicians, adding, “Smile Doctors stands out as the preferred platform for orthodontists at all stages of their careers. We are dedicated to empowering their talented affiliated orthodontists to expand their practices and broaden patient access to industry-leading resources and support.”
Linden Capital Partners also reaffirmed their strong belief in Smile Doctors’ future. Tony Davis, President and Managing Partner at Linden, expressed pride in the company’s achievements since their initial investment, stating, “We are proud of the significant growth and strong performance we have witnessed at Smile Doctors since 2017 and are excited to continue our support for J. and the entire Smile Doctors team.” Mike Watts, Partner at Linden, highlighted the synergistic potential of the new partnership, adding, “Partnering with THL, we believe that our combined resources, experience, and capital will be instrumental in driving continued success and innovation for Smile Doctors going forward.”
About Smile Doctors, LLC
Smile Doctors is the largest orthodontics-focused dental support organization in the U.S., renowned for its rapidly growing network of award-winning orthodontists. Operating over 295 locations across 25 states, Smile Doctors boasts a proven history of nurturing and expanding affiliated practices. They achieve this by providing orthodontists with cutting-edge tools and technology, allowing them to concentrate fully on delivering exceptional patient care. Notably, Smile Doctors holds the distinction of being the largest network of Diamond Plus Invisalign providers. Smile Doctors orthodontists are active members of esteemed professional organizations including the American Association of Orthodontists and the American Dental Association. Furthermore, Smile Doctors proudly hosts the Lecture Center for Orthodontic Excellence, contributing to the advancement of orthodontic knowledge and practice. Smile Doctors’ core mission is centered on creating confident smiles that inspire positivity in their patients, their team, and the communities they serve. For further information, please visit www.smiledoctors.com.
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm focusing on investments in middle-market growth companies within three key sectors: Healthcare, Financial Services, and Technology & Business Solutions. THL’s investment approach combines deep sector expertise with dedicated internal operating resources to transform and build enduring, high-value companies in close collaboration with management teams. Since its inception in 1974, THL has raised over $30 billion in equity capital, invested in more than 160 companies, and executed over 500 add-on acquisitions, representing a total enterprise value at acquisition exceeding $210 billion. For more information, please visit: www.thl.com.
About Linden Capital Partners
Linden Capital Partners, based in Chicago, is a private equity firm exclusively dedicated to the healthcare industry. Established in 2004, Linden ranks among the largest healthcare-focused private equity firms in the nation. Linden’s strategy is built upon healthcare specialization, integrated private equity and operational expertise, and a distinctive human capital program. Linden invests in middle-market platforms across medical products, specialty distribution, pharmaceutical, and healthcare services segments. Since its founding, Linden has invested in over 40 healthcare companies, encompassing more than 200 transactions in total. The firm has secured over $6 billion in limited partner commitments since its inception. For more information, please visit www.lindenllc.com.
