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Buyer profile

Smile Brands

Operates under multiple regional brands including Bright Now! Dental. Smile Brands has been through several sponsor changes, which matters for rollover holders because each recapitalization is a potential liquidity event and a potential reset of equity value.

Ownership and sponsor
Envision Healthcare alumni leadership, Mubadala Investment Company
Approximate practice count
~650 supported offices
Geographic footprint
Concentrated in California, Arizona, Texas, and the Southeast

Reported structure

Figures below are publicly reported or submitted by dentists who received an offer. They are not a statement of company policy and terms vary by practice.

Not yet documented
Mubadala acquisition, publicly reported · 2019-12
Not yet documented
Mubadala acquisition, publicly reported · 2019-12
Earnout common
Mubadala acquisition, publicly reported · 2019-12
Not yet documented
Comp reset pattern

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Anonymous by default. No name, no practice, no identifying detail is collected. Submissions are reviewed before they move any published range for Smile Brands.

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Deal terms

Defaults reflect a typical mid-market DSO structure. Replace them with the numbers on your letter of intent.

Real consideration, present value · Smile Brands structure
$3,632,035
$568K below the headline · 14% gap

At 25% rollover you are financing 25% of your own buyout and getting paid for it in five years, if there is an exit.

The numbers above stay visible either way.