How Private Equity Is Buying Up Dental Support Organizations

The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions · Aug 16, 2026 · 8m · transcript

In this episode of The Buyout Show, Lucas and Luna dive into the quiet consolidation of dental support organizations (DSOs) — the companies that buy up independent dental practices and provide back-office support. They unpack how DSOs have grown from a handful of players in the 1990s to over 600 today, controlling roughly 15 percent of the U.S. dental market. Lucas explains the roll-up playbook: buying practices at 4-6 times EBITDA, centralizing billing and procurement, and lifting margins by 300-500 basis points. Luna challenges the narrative, asking about the trade-offs for dentists and…