Destiny Dental has been acquired by ProSmile

Livingstone’s Healthcare team has advised Destiny Dental (or the “Company”), a mission-driven dental service organization (“DSO”) supporting offices across four states in the upper Midwest, on its sale to ProSmile Holdings LLC (“ProSmile”), a leading multi-specialty DSO on the East Coast.     

Destiny Dental was founded in 2010 by Jim Lucci and Boris Labinov in partnership with Dixon Midland Company, a Chicago-based private investment firm. The Company offers quality dental care to underserved communities with a network of more than 250 dedicated healthcare professionals serving patients in locations in the upper Midwest.

“We started Destiny Dental more than a decade ago with a single mission: providing access to quality dental care for those communities in the Midwest that need it most,” said Jim Lucci, Co-Founder and President of L2 Management, the DSO that supports the Destiny Dental practices. “With ProSmile, we found a great partner to continue that mission.” 

ProSmile, which was founded in December 2020, is a leading multi-specialty DSO with over 1,500 healthcare professionals serving patients in more than 100 locations across the mid-Atlantic and Midwest regions. ProSmile’s practices offer a range of services from general dentistry to specialty services such as pediatrics, endodontics, periodontics, orthodontics, and oral surgery. ProSmile is a portfolio company of TriSpan, a private equity firm with offices in New York and London.

“Our primary aim at ProSmile is to support our providers so they deliver exceptional dental care,” added Hugh Carey II, CEO of ProSmile. “Our partnership with TriSpan and BankUnited will allow us to grow in new markets and expand the positive impact we provide to our dentists and their patients.”

BankUnited, a Florida-based commercial bank and ProSmile’s current lender, supported the acquisition and raised new capital for further expansion.

“Destiny Dental and ProSmile align perfectly due to their unwavering commitment to supporting highly talented dentists in delivering top-quality dental care to patients in underserved communities,” noted Ryan Buckley, Partner at Livingstone. “Destiny Dental’s strong foothold and long history of growth make the Company the ideal partner for ProSmile’s platform entry into the Midwest. We are excited to watch the combined organization expand patient access within communities who most need the care.”

In the last 12 months, Livingstone’s Healthcare team has completed 14 M&A sell-side transactions, including Fitness Quest PT, Women’s Health Associates, OrthoCentrum, Access Physical Therapy, Net32, and Senior Helpers, of which these referenced deals all closed during 2024.

“The sale of Destiny Dental is yet another example of Livingstone’s strong deal momentum, showcasing our ability to secure compelling client outcomes,” added Eric Weldzius, Managing Director at Livingstone. “Livingstone continues to serve as an important advisor to the dental services and products sector by advising clients on successful transactions involving industry leaders such as Heartland Dental, Henry Schein, Net32, and Smile Brands.”