ARTICLE
4 July 2025

Dental/DSO Industry Newsletter

B
Benesch Friedlander Coplan & Aronoff LLP

Contributor

Benesch, an Am Law 200 firm with over 450 attorneys, combines top-tier talent with an agile, modern approach to solving clients’ most complex challenges across diverse industries. As one of the fastest-growing law firms in the country, Benesch continues to earn national recognition for its legal prowess, commitment to client service and dedication to fostering an outstanding workplace culture.
With the theme of "Future Smiles: Innovations in Dental Care Dentistry," the conference focuses on providing professionals with latest research and advancements in cosmetic dentistry and orofacial myology.
United States Florida Indiana Maine Food, Drugs, Healthcare, Life Sciences

CALENDAR OF EVENTS

36th American Dentistry Congress
June 26-27, 2025
Orlando, Florida

With the theme of "Future Smiles: Innovations in Dental Care Dentistry," the conference focuses on providing professionals with latest research and advancements in cosmetic dentistry and orofacial myology. The conference also included workshops and chances for attendees to network and enhance their clinical skills.

For more information, please click here.

Academy of General Dentistry 2025
JULY 9–12, 2025
Montreal, Canada

AGD's annual scientific session allows attendees to network with colleagues, students, and dental team members in general dentistry continuing education. From advanced hands-on education to clinical and practice management lectures in an innovative one-hour lecture format, all of the CE earned at an AGD meeting can be applied to the AGD Fellowship and Mastership awards.

For more information, please click here.

National Dental Association Annual Convention
July 10-13, 2025
Kansas

The convention will focus on advancing oral health equity within communities, bringing together dental professionals, advocates, and stakeholders to exchange knowledge and collaborate. The convention will include CE sessions, an exhibit hall, district caucus meetings, alumni receptions, and the President's Gala. There will also be wellness activities, black tie dinners, and local theater groups.

For more information, please click here.

Southwest Dental Conference
AUGUST 22–23, 2025
Dallas, Texas (Registration is now open)

The annual Southwest Dental Conference is the premier dental conference in the southwest, hosted by Dallas County Dental Society. The event features superior education and CE opportunities, exceptional speakers discussing the latest in the dental community and an Exhibit Hall featuring the most advanced dental equipment and technology.

For more information, please click here.

The Dental Festival
AUGUST 21–23, 2025
Delray Beach, Florida

The Dental Festival seeks to revolutionize dental education and networking by providing an immersive, festival-like experience for dental professionals where it aims to foster professional growth, collaboration, and a sense of celebration within the dental industry.

For more information, please click here.

Annual Mid-Continent Dental Conference
SEPTEMBER 25–26, 2025
St. Louis, Missouri

MCDC features a two-day trade show along with lectures, workshops, special events, and the newest products and technology in dentistry.

For more information, please click here.

Future of Dentistry Roundtable
SEPTEMBER 29–30, 2025
Chicago

This event will draw both large and small DSOs, which are growing alongside thriving independent dental practices, while private equity is taking notice. There is a huge potential for dental innovation and improving patient care. The event includes 90 Elite speakers and 28 educational sessions which will discuss strategies for success and best leveraging these improvements.

For more information, please click here.

SmileCon 2025
OCTOBER 23–25, 2025
Washington, D.C.

Save the date for SmileCon 2025, where participants can join dental professionals on October 23–25 in Washington, D.C.

For more information, please click here.

Greater New York Dental Meeting
NOVEMBER 28 – DECEMBER 3, 2025
New York The

101st Annual Greater New York Dental Meeting invites attendees to participate in one of the largest Dental Congresses in the world. At the 2024 Meeting, the conference hosted over 37,631 dental professionals, including:
Dentists – 13,470
Dental Assistants – 2,200
Dental Hygienists – 2,226
International Countries – 148

For more information, please click here.

INDUSTRY SPOTLIGHT

Interview with Mike Zaller, Principal Broker, CARR

Mike Zaller, Principal Broker at CARR in Ohio, specializes in commercial real estate services for dental tenants and buyers. Every year, thousands of dentists and healthcare providers trust CARR's no-conflict approach, to help secure the best possible commercial real estate lease and purchase terms. Mike's prior role includes a lengthy dental practice financing background, adding to his expansive knowledge within the dental industry.

CARR

How was CARR started?

CARR began in 2009 after several years of transacting in all commercial real estate specialties, including: office, industrial, retail, land, and investment real estate. That year, CARR's founder, Colin Carr, realized that he was having more impact and influence representing healthcare providers while enjoying the results of 'helping people who help people' beyond any area of real estate he had ever been involved in. CARR had found a niche in only representing one party in every transaction; the healthcare tenant and buyer, while never working on behalf of the landlord or seller, ultimately removing the conflict of interest that was evident in past experience when transacting in commercial real estate. CARR has grown from a small team of commercial real estate agents in Denver, Colorado in 2014, to over 130 agents nationwide today. It may sound trite, but CARR's acceleration in the market is entirely based upon an immense need for Healthcare Professionals to be represented in impactful commercial real estate transactions where pitfalls can be commonplace. With a practice's rent or mortgage payment typically as the second-highest expense in a practice, there's a great opportunity to maximize profitability in these types of commercial real estate transactions.

In 2014, I had joined CARR after a tenured dental practice financing career at one of the nation's leading dental-specific lending institutions, then helping CARR establish a presence outside of Colorado for the first time. I had noticed when helping finance customers for their start-up, relocation, additional office, etc., that there was little specialized dental real estate experience involved in those transactions when helping value and negotiate economics in the best interest of the doctor. That was my motivation to make the move to commercial real estate over 10 years ago. Since joining CARR in 2014, I have personally helped over 400 local dental and healthcare practices in Ohio, proudly representing the tenant and buyer in each of these commercial real estate transactions.

What services do you offer?

CARR provides commercial real estate representation for healthcare tenants and buyers. CARR strategically does not list property on behalf of landlords or sellers, does not work on behalf of landlords and sellers in property management or other facets of commercial real estate, so that we can ensure that we're always working in the best interest of our healthcare tenant and buyer clients, with the goal of removing traditional conflicts of interest within commercial real estate. These variables allow us to create a strong negotiation posture for our clients, reviewing all real estate options in the market, leveraging lease and purchase terms on those options, and maximizing counter-offer terms for our clients. Lease renewals, and assisting our healthcare clients with this process, is another large industry separator that CARR provides as a service. By having multiple options in the market, we can help leverage these negotiations, assisting the client with obtaining lower base rent, free rent, and even an "Allowance ", paid by the landlord towards a remodel of the space, amongst other strong lease terms.

Talk a little about CARR's work in the dental industry.

CARR agents, having transacted thousands of times on behalf of local dental professionals, have gained a vast understanding of the economics of a dental practice start-up, relocation, additional location, etc. Square footage needs, the understanding of general construction and equipment costs, dental demographics, knowledge of local dental market fluctuations, parking requirements, general lending requirements, and local industry relationships, are just a few reasons why CARR represents more dental practices in these types of transactions nationwide. Lease and purchase terms can vary, with every transaction not involving one universal type of landlord or seller. It's critical to bring to light the dental type of use, and other options in the market, then leveraging tenant and buyer concessions, potentially helping save our clients tens to hundreds of thousands of dollars in a transaction, ensuring no money is left on the table.

What challenges are you seeing in the dental industry right now?

What opportunities? I feel that there is far more opportunity. Continuing to see a shift in corporate dentistry and the attention the dental industry has gotten amongst private equity professionals, practice values have generally continued to increase year over year. I personally feel we'll continue to see larger practice footprints with increased operatories, thus seeing more built-to-suit-leaseback real estate development as some corporate dentistry operators focus on leasing real estate versus purchasing. Construction costs have continued to elevate, with landlords and their lenders passing thru these costs to tenants, meaning higher-than-ever-before commercial real estate lease rates for new construction property types. These are a couple of factors to watch as practice owners try to navigate their 2nd highest fixed expense—Their monthly rent or mortgage payment. With the right real estate representation, lease renewals tend to favor dental tenants in an economic slowdown, with landlords generally doing more to retain their potentially lowest default rate type of use, rather than taking back a vacant space with such customized construction. I feel that the dental practice type of use can thrive in both thriving and slowdown economic times within commercial real estate.

What is your favorite movie OR tv show OR vacation

Field of Dreams and The Sandlot. There's something nostalgic about baseball and this time of year

KEY FINDINGS

Evolving regulatory and policy landscape, on a federal and state level, is impacting DSOs

AI is not the only thing that could change the dental industry.

The dental industry is finding itself in an increasingly complex landscape of regulatory reform, increased oversight and surprising policy changes. Economic headwinds also continue to challenge dental providers and, despite a brief rise in dentist confidence in late 2024, over 45% of practitioners now cite rising operational costs as a top concern. Executives express mixed strategies: some vow to shield patients from price hikes, while others acknowledge soft demand despite increased procedures like implants. Tariffs and inflationary pressure are heightening financial strain, with experts warning of possible job cuts and reduced patient demand if conditions worsen.

Public health policy is also under fire as more states advance anti-fluoride legislation. Florida and Louisiana are pushing bans on water fluoridation, with Maine considering similar action. These moves come as HHS Secretary Robert F. Kennedy Jr. calls for a federal review of fluoride standards, prompting sharp opposition from the ADA, which warns this could reverse decades of progress in preventing dental disease and disproportionately harm vulnerable populations.

State-level laws are also impacting norms, such as Indiana's HB 1666, set to take effect July 1, 2025, which exempts many DSO transactions from state reporting if the provider is majority-owned and operated by a licensed Indiana practitioner. Simultaneously, the Indiana Attorney General gains expanded authority to investigate market concentration, signaling increased antitrust scrutiny even in the absence of merger activity.

Looking at notable DSO news, Smile Source merged with ACT Dental, naming Dr. Barrett Straub as CEO. Also, PDS Health expanded its specialist-owned DSO model across seven states and over 160 practices and launched a new tech division—PDS Health Technologies—to enhance integrated care, streamline operations and improve patient outcomes.

Meanwhile, workforce mobility and access to care are seeing some positive developments. Nebraska joined the Interstate Licensure Compact, making it easier for dental professionals to practice across state lines and potentially improving access in underserved areas. At the same time, climate change is emerging as a growing oral health threat, disrupting care through extreme weather and worsening health disparities. Experts urge the adoption of sustainable practices and increased use of teledentistry to maintain service delivery during disruptions.

Technology, particularly AI, continues to reshape dental practices. Beyond CAD/CAM systems, AI tools are now embedded in everyday software to assist with diagnostics and treatment planning, offering powerful capabilities to small and mid-sized clinics. Experts emphasize the importance of step-by-step integration to avoid overwhelming teams, positioning AI as a complement to clinical expertise rather than a replacement.

Sources: Becker's Dental + DSO Review, CNN, Maine Morning Star, ADA News, Benesch Law, Smile Source, Dentistry Today, Group Dentistry Now, Dental Tribune

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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