Crown Dental was founded by Dr. Emily Lee in 2005. She worked relentlessly to make it one of Houston’s most well-known offices. After years of hard work, the practice had grown to nine locations, and Dr. Lee wondered about a dental practice valuation. She realized she wanted to take Crown Dental to the next level and provide more services to her patients. She knew the right business partner could provide cash and efficiencies to do just that. At the same time, Doctor Lee knew that buying and selling medical practices – much less 9 altogether – was not easy.
While researching dental brokers, Doctor Lee found Practice Transitions Group (PTG). PTG President Thomas Allen was driving on I-35 when he pulled over to get gas and Doctor Lee called him. When she explained over the phone that she owned Crown Dental Houston, he knew exactly what practice she was talking about.
Doctor Lee visited with Thomas, who shared the dental practice valuation process and incredible results from previous transactions PTG had negotiated. He also studied her profit and loss statements and other reports. Because of Thomas’ time investment and track record of successful negotiations, Doctor Lee knew Thomas was the right dental broker to represent her.
Thomas and his PTG team did their due diligence to determine Doctor Lee’s dental practice valuation range. Doctor Lee signed the agreement just days before the world stopped because of the COVID-19 pandemic.
Doctor Lee was initially concerned and worried – not just about her valuation, but about her practices as well. Thomas suggested that Doctor Lee spend the time going through and strengthening all of her financial documents.
“So that’s what we did. And when we did, what do you know the price went up,” Thomas said. “We ended up selling her practices in 2021. We had multiple offers. And we sold for more than we expected to sell for.”
Doctor Lee was extremely happy with the number Thomas negotiated on her behalf because it was higher than her dental practice valuation. Thomas explained to Doctor Lee how proud he was of her because the offer meant one of the largest DSOs in the nation respected her work.
“It is an undertaking to get it done, but it’s what we do. And we’re amazing at it. But getting it done is really exciting,” Thomas said.
After the sale, Doctor Lee described Thomas and PTG as efficient and trusting. She explained that although she made the decisions in the sale, she could not have done it without Thomas’ expertise in buying and selling medical practices.
