New York, NY – September 9, 2025 – Tenex Capital Management (“Tenex”) is pleased to announce the sale of Smile Design Dentistry (“Smile Design” or the “Company”) to Heartland Dental, a portfolio company of KKR.
Smile Design is a dental service organization (“DSO”) operating 60 practices across the state of Florida. The Company employs 65+ dentists, 100+ hygienists, and 150+ support staff across its clinics and is one of the largest DSOs in Florida. Smile Design focuses on general dentistry, hygiene, and specialty procedures, serving the commercial payor and private pay markets.
Smile Design and Tenex partnered in October 2018 and have since more than doubled revenue and EBITDA through numerous operational initiatives, multiple physician and personnel hires, and the addition of more than 20 acquired locations.
Smile Design CEO Sachin Patel commented, “Dr. Mili Patel and I started Smile Design Dentistry with the belief that the best patient care starts with empowered doctors and supported teams. Throughout the partnership with Tenex, Smile Design has enhanced our high-quality patient care and service by building our team, implementing operational tools and training, and improving the customer experience. Tenex Operating Advisors Chris Clark and Nick Spaeth helped lay the foundation of our operating rhythm, Micah Wood’s digital marketing team helped drive organic growth, and the Tenex investment team helped us establish internal corporate development capabilities that have proven highly effective.”
Tenex Managing Director Ryan MacIntyre remarked, “We have greatly enjoyed collaborating with Dr. Mili and Sachin Patel to build a strong operational foundation around their firmly rooted patient-first culture. This is Tenex’s 24th full or partial exit event as a firm and another example of our focus on bringing operational resources to partnerships with customer centric businesses and passionate leadership teams.”
The transaction closed on September 5, 2025 and represents Tenex’s third exit of a founder-led business partnership within the past nine months. Bailey & Company and B. Riley Securities served as lead financial advisors, Edgemont Partners served as co-advisor, and Willkie Farr & Gallagher served as legal counsel to the Company.