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Mosaic Dental Collective Partners With Audax Private Equity

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Mosaic Dental Collective, LLC (“Mosaic”) announced a partnership with Audax Private Equity (“Audax”), a leading alternative investment manager and capital partner for North American middle market companies. Mosaic is a leading dental services organization (DSO) supporting 49 affiliated dental offices in California and Washington, with a differentiated dentist-led DSO model. Financial terms of the transaction were not disclosed.

Based in Vancouver, WA, Mosaic offers a full continuum of dental care, spanning from general dentistry, periodontics, orthodontics, endodontics, and prosthodontics to oral surgery. Founded by Jagdev Heir, MD, DMD, FACS, Mosaic is the partner of choice as a doctor-run and -led DSO committed to excellence, integrity and innovation in dental care, while offering comprehensive operational support and collaborative guidance to the more than 75 dentists across Mosaic’s network. Mosaic’s status as a differentiated partner of choice for dentists is driven by its unique dentist-led model. Through Mosaic’s unique doctor-led advisory board structure and C-suite level dentist leadership, Mosaic’s affiliated dentists achieve levels of clinical autonomy, leadership, and professional development atypical of traditional DSOs.

“Mosaic represents a welcome departure from the traditional DSO model,” noted Dr. Jagdev Heir, founder and CEO of Mosaic. “Our approach is to place dentists at the center of dentistry by engaging our doctor-led advisory boards in key strategic decisions across our organization – representing a true partnership with an exceptional commitment to doctor leadership and continued education. We’ve seen lots of excitement about Mosaic’s model from dentists in our markets and are excited to partner with Audax to bring the next round of like-minded, growth-oriented practices into the Mosaic family.”

“We are thrilled to partner with Mosaic,” added David Goldenheim, managing director of Audax Private Equity. “We have known the Mosaic team for years and have been continually impressed with their commitment to quality care and to developing a best-in-class dental services organization. Audax wholly supports Mosaic’s vision to develop the leading doctor-led DSO in the Western U.S. and we are pleased to lend our support to accelerate Mosaic’s growth through operational excellence and M&A.”

Audax is an experienced investor in healthcare, having acquired over 30 platforms in the sector and more than 450 add-ons. The firm’s expertise, particularly in healthcare services, helped position Audax as a preferred partner as Mosaic looks to accelerate growth.

“Mosaic is the latest addition to Audax’s strong track record in multi-site healthcare,” noted Keith Palumbo, co-president of Audax Private Equity. “We have a long history of successfully partnering with multi-site healthcare providers across varied geographies and clinical areas. Furthermore, the Mosaic partnership is an exciting addition to our Origins strategy, which builds on Audax’s historic focus in the lower middle market.”

Mosaic represents the third investment completed by Audax Private Equity’s lower middle market origins strategy.

Houlihan Lokey served as financial advisor to the sellers. Ropes & Gray LLP served as legal counsel to Audax, and Proskauer Rose LLP served in the same capacity to Mosaic.

About Mosaic Dental Collective

Based in Vancouver, WA, Mosaic Dental Collective, LLC is a dental services organization (DSO) managing practices across general dentistry, periodontics, orthodontics, prosthodontics, endodontics, and oral surgery. With 40 practices and 49 locations, including 76 affiliated dentists across California and Washington, Mosaic prides itself on its dentist-led and patient care-focused approach to practice management.

To learn more, please visit the Mosaic website at https://mosaicdentalcollective.com/.

About Audax Private Equity

Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $15 billion of assets under management, over 185 employees, and 80-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,150 add-on acquisitions. Through our disciplined buy-and-build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value.

Audax Private Equity is a part of Audax Group, a leading alternative investment manager with approximately $36 billion of assets under management.

For more information, visit audaxprivateequity.com or follow us on LinkedIn.

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