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Irving-based U.S. Oral Surgery Management, a specialty firm that manages back-office functions for dental surgeons, is getting an additional $150 million from its lenders to fund expansion.
It’s the second major credit expansion for the fast-growing firm in the last 12 months. In December, it received an additional $125 million from existing lenders.
Founded in 2017, U.S. Oral Surgery Management works with over 180 dental surgery practices in 26 states and provides operations, marketing and administrative support services. It aims to improve practices’ financial and clinical results.
“The credit markets continue to be more limited … and not all credit is equal,” said president and CEO Richard Hall in a statement. “Only companies with well-established track records and exceptional performance will successfully obtain access to growth capital at reasonable terms.”
The company said it expects to add $100 million in acquired revenue this year on top of a similar amount last year.
Private equity firm Oak Hill Capital invested in the Irving-based firm in 2021 in a deal that reportedly valued the company at $700 million to $750 million.
Dental surgeons working with U.S. Oral Surgery Management own more than 51% of the company. In Dallas-Fort Worth, dental partners include Oral Surgery Associates of North Texas, White Rock Oral and Maxillofacial Surgery and Northern Texas Facial and Oral Surgery.
“We’ve always been highly selective about with whom we partner,” said Hall, who joined the company in 2018. “Our partners are industry leaders. They’re all board certified, highly trained and highly skilled.”
Dental services are estimated to be a $176 billion market in the U.S.
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