THL invests in Smile Doctors

Thomas H. Lee Partners has made an investment in Smile Doctors, an orthodontics-focused dental support organization.

Thomas H. Lee Partners has made an investment in Smile Doctors, an orthodontics-focused dental support organization. No financial terms were disclosed. THL is investing alongside Smile Doctors’ existing backer Linden Capital Partners.


GEORGETOWN, Texas, Jan. 5, 2022 /PRNewswire/ — Smile Doctors, the largest and fastest growing orthodontics-focused dental support organization (“OSO”) in the U.S., with more than 295 locations, announced a strategic investment from Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies. THL is investing alongside existing financial sponsor Linden Capital Partners (“Linden”) in an equal partnership. Affiliated orthodontists will retain a significant ownership stake in the organization. The new partnership will support Smile Doctors’ efforts of continued growth and expanded service offerings.

“As we focus on making quality orthodontic care accessible to more people across the United States, we are thrilled to welcome our new partners at THL,” said J. Hedrick, CEO of Smile Doctors. “Along with our existing partners at Linden, we are excited about the opportunity to create new partnerships with thriving practices and continue to expand our services through this new relationship. This partnership allows our team members to remain committed to providing excellent care in our communities with all-inclusive orthodontic treatment that results in beautiful, confident smiles and genuine, unforgettable experiences.”

“We have been very impressed with Smile Doctors’ proven track record of delivering best-in-class services and achieving exceptional patient satisfaction. We look forward to supporting the company’s doctors as they grow and extend this model of patient-centric care,” said Joshua Nelson, Managing Director and Head of Healthcare at THL. “Smile Doctors is the platform of choice for clinicians at every stage of their careers,” said Megan Preiner, Managing Director at THL. “We are committed to helping the Company’s talented, affiliated orthodontists grow their practices and extend patient access to best-in-industry resources and services.”

“We are proud of the strong growth and performance at Smile Doctors since our initial investment in 2017 and look forward to continuing to support J. and the Smile Doctors team,” said Tony Davis, President and Managing Partner at Linden. “We are excited to partner with THL and believe our combined resources, experience, and capital will help drive continued success going forward,” added Mike Watts, Partner at Linden.

Kirkland & Ellis acted as legal advisor, Jefferies acted as financial advisor, and Deloitte acted as accounting advisor to THL.

About Smile Doctors, LLC
Smile Doctors, LLC, is the largest orthodontics focused dental support organization (OSO) in the U.S. The company has the fastest-growing network of award-winning orthodontists. With more than 295 convenient locations in 25 states, Smile Doctors has a rich history of developing and growing affiliated practices by providing tools and technology that allow their orthodontists to focus entirely on patient care. Smile Doctors is the largest network of Diamond Plus Invisalign® providers. Smile Doctors orthodontists are proud members of the American Association of Orthodontists, American Dental Association, and host for the Lecture Center for Orthodontic Excellence. Smile Doctors’ mission is to create confident smiles that inspire the best in their patients, each other, and the communities they serve. For more information, please visit