- HIGH
- Business
- Tier 1
- Hard News
Why some DSO dentists won’t get their 2nd payday
- Source
- Becker's Dental + DSO Review
- Author
- Cameron Cortigiano
- Originally at
- beckersdental.com(opens in a new tab)
Summary and scoring by The Bell Brief (Dr. Jennifer Bell) using the Drill-Down Protocol. Not the original publisher.
Why it matters for dental
DSO-affiliated dentists risk losing rollover equity when platform debt exceeds asset value, turning a promised second payout into zero or negative returns for owners who sold practices.
Key points
- 01
Dylan Bates, CEO of SALT Dental Partners, stated that rolled equity in some DSOs can become impaired, diminished, or reduced to zero.
- 02
Greg White, DMD, president and CEO of PepperPointe Partnerships, described platforms carrying $3 million in debt on $1 million valuation, requiring debt repayment before any equity distribution.
- 03
Richard Hall, board chair of U.S. Oral Surgery Management, noted that interest rates more than tripled, ending the five-to-six times EBITDA buy and thirteen-to-fourteen times EBITDA exit model.
- 04
Levin Associates recorded 51 dental transactions in Q3 2026, down 27 percent from the same period in 2025, with 16 involving PE-backed DSOs.
Who should care
- Owner
- DSO
Read the original
Becker's Dental + DSO Review
Full reporting and any paywalled content live on beckersdental.com. We summarize and score; we do not republish.