Smile Doctors launched a new joint-venture partnership model, offering orthodontists another avenue for affiliation with the company.
Smile Doctors focused its Q3 efforts on beginning to utilize its recent $550 million capital raise to fuel continued growth and support strategic initiatives—including continuing to partner with practices across the US, launching a comprehensive de novo strategy, and introducing a new joint-venture partnership model.
In Q3, Smile Doctors added locations in Texas, New Jersey, Florida and Wisconsin to its network of affiliated locations. The company brought on Fort Worth Orthodontic Specialists, Thrive Orthodontics and Thrive Pediatric Dentistry, Best Smiles Orthodontics, Lepley Orthodontics, CC Braces, McReath Orthodontics, and Dau Orthodontics to the Smile Doctors network, growing the number of affiliated locations to over 415 across 28 states.
In addition to new affiliations, Smile Doctors celebrated a de novo opening in June with an office in Arlington, Virginia, as part of Northern Virginia Orthodontics (NVO), owned by Zach Casagrande, DDS. Another NVO de novo location is slated to open in Gainesville later this year, as well as de novo locations for Lineberger Orthodontics, Space City Orthodontics, and Fishbein Orthodontics over the next 6 months.
The introduction of a new joint venture model provides an opportunity for doctors to partner with Smile Doctors, offering an option to hold ownership at the local level while also participating in Smile Doctors at the network level.
“I’m excited by our continued growth, the initial success of our de novo strategy and this new partnership model, especially considering the broader economic uncertainty impacting many organizations in our industry,” said J. Hedrick, chief executive officer of Smile Doctors. “But what I’m most excited about is that all of these initiatives give our partner doctors new ways to leverage our support, expertise, and funding as we continue to shape the future of orthodontics, together.”