DentalCorp Taken Private by GTCR (~11x EBITDA)
- Will Hamilton
- Sep 27, 2025
- 2 min read
On September 26, 2025, dentalcorp Holdings Ltd. (TSX: DNTL), Canada’s largest dental service organization (DSO), entered into a definitive arrangement agreement to be acquired by investment funds affiliated with private equity firm GTCR in an all‑cash take‑private transaction valued at approximately C$2.2 billion on an equity basis and C$3.3 billion on an enterprise value basis, or roughly $2.4 billion USD. The acquisition deepens GTCR’s presence in the dental services and multi‑site healthcare platform space, pairing Dentalcorp’s expansive network of affiliated practices with GTCR’s experience in scaling healthcare services businesses. Dentalcorp’s leadership, including its Founder, Chairman & CEO and President & CFO, are expected to remain in leadership roles post‑close, with opportunities for partner dentists to roll equity into the new ownership structure, underscoring confidence in the company’s long‑term growth strategy.
Dentistry EBITDA Multiples
According to financial results included Hologic’s earnings releases (here and here), last twelve month revenue and adjusted EBITDA were $1.16 billion and $215.4 million USD, respectively, implying multiples of 2x revenue and 11x EBITDA.
The slightly lower multiple in the DentalCorp transaction is consistent with the trend for larger platforms over the past few years.
Healthcare Professional Services M&A Deal Volume
The number of announced U.S. professional services deals (licensed healthcare provider groups like physicians, dentists, and physical therapists) declined again in 2025. Volume averaged 25 per quarter in 2025, down from 270 per quarter in 2024, 295 per quarter in 2023, and 298 in 2022. Generally, continued growth in the dentistry and medspa / aesthetics segments have offset modest declines across most of the remaining segments, including significant declines among physician practices.
Other Professional Services Deals
Read Scope Research's take on other healthcare professional services transactions:
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to 434 dentistry, physical therapy, and physician practice deals, segmented by specialty, including 290 deals with disclosed EBITDA multiples. The data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.