ChildSmiles Acquires Pediatric Practices, Sparks Rebrand as SmileHealth
NEWARK, N.J., Jan. 27, 2021 (GLOBE NEWSWIRE) -- ChildSmiles Group, LLC (“ChildSmiles” or the “Company”) is pleased to announce the acquisition of two sizable primary care pediatric physician practices in Newark, New Jersey. Both practices have been in operation for over 30 years, providing high-quality primary care to underserved children in the Newark area. Employees of both practices will join the ChildSmiles team and will benefit from ChildSmiles’ management and administrative support as well as the Company’s executive leadership. As a result of the purchase, ChildSmiles will be changing its name to SmileHealth to more accurately represent the inclusive, broad, and high-quality care associated with its practice. The Company believes that dental and primary care health services are highly complementary for pediatric patients. This acquisition will create a holistic healthcare environment, allowing the Company to provide essential healthcare services across their patient base and ensure that all patients are receiving the best possible treatment.
This is the second acquisition completed by ChildSmiles since Clairvest partnered with the Company in February 2020. It follows the acquisition of a children’s ambulatory surgery center in October 2020. ChildSmiles continues to grow in its existing markets by providing industry-leading service to its patients and is intent on developing a footprint across the Northeast US through accretive acquisitions and organic expansion of services. ChildSmiles is in development to open multiple additional large-footprint pediatric, multi-specialty dental offices in 2021.
Additionally, Tom Wininger joined the Company as the Chief Financial Officer on January 4, 2021. He brings a wealth of experience in financial planning & analysis, strategy, and market analytics from his past roles at Topix Pharmaceuticals, Jackson Hewitt, and Alcoa.
About ChildSmiles
ChildSmiles is one of the leading pediatric multi-specialty dental service organizations (“DSOs”) in New Jersey. ChildSmiles now operates five large-footprint practices (with over 120 total operatories), a children’s ambulatory surgery center, and two primary care pediatric practices, employing over 350 employees. ChildSmiles will be rebranding as SmileHealth later in 2021.
About Clairvest Group
Clairvest’s mission is to partner with entrepreneurs to help them build strategically significant businesses. Founded in 1987 by a group of successful Canadian entrepreneurs, Clairvest is a top performing private equity management firm with over CAD $2.4 billion of capital under management. Clairvest invests its own capital and that of third parties through the Clairvest Equity Partners limited partnerships in owner-led businesses. Under the current management team, Clairvest has initiated investments in 56 different platform companies and generated top quartile performance over an extended period.
Contact Information:
Michael Skolnick, CEO
ChildSmiles Group, LLC
973-715-5963
Robbie Isenberg, Managing Director
Clairvest Group
(416) 413-6020
