SARASOTA — Fast-growing dental practice management firm Sebring Software, with facilities in Florida and Arizona, announced two new acquisitions worth more than $4 million.
One deal, a $3.5 million purchase, was of Miami-based Simon Orthodontic Centers, which has 21 employees, including three doctors, and two offices in the Miami area. The other acquisition was of Tampa-based Implant, General & Cosmetic Dentistry, a $617,000 deal, according to a release. That practice, with six employees, has a full range of implant and cosmetic dentistry services. Sarasota-based Sebring, according to the release, now has 37 dental practices under management.
“We are moving forward with our strategy to provide administrative and management services to dental practices, and have strengthened our base in Florida with these agreements,” Sebring President and CEO Leif Andersen says in the statement. “Our goal has always been to make strategic transactions to bring top talent to Sebring as we expand.”
Andersen says day-to-day responsibilities of the new firms won't change, but back-office work will be consolidated to Sebring's Clearwater-based operational headquarters. That's been Sebring's business model since Anderson launched the firm in 2012 with $66 million in Wall Street investment capital. Publicly traded over the counter, the firm, (symbol: SMXI) had $5.96 million in revenues for the first three quarters of 2013, according to public filings.