TD Bank provides financing for Endeavor Dentistry to acquire Waldwick dental practice

This is the fifth dental practice acquisition the Cherry Hill-based bank has financed for the dental group

TD Bank on Monday said that its Healthcare Practice Solutions Group (HPSG) provided $1.3 million in financing to help Endeavor Dentistry acquire A Perfect Smile Dental Arts, based in Waldwick.

This is the fifth dental practice acquisition the Cherry Hill-based America’s Most Convenient Bank has financed for the dental group, bringing the total lending relationship to $7.4 million.

Livingston Smiles Team.

TD’s financing for the 2,800-square-foot Waldwick dental practice included a $665,000 term loan for the practice acquisition and permanent working capital. The dental group also received a $580,000 commercial real estate mortgage to finance the purchase of the practice real estate.

“The entrepreneurial dental group practice model is continuing to grow in popularity since many dentists want to better compete with Private Equity owned practices and Dental Service Organizations (DSO), which provide business management support and non-clinical administrative services. As a result, we are seeing an increase in multiple practice ownership as private dental practitioners purchase new locations,” said Dan Croft, head of Healthcare Practice Solutions Group, TD Bank. “TD Bank is pleased to support Endeavor Dentistry as they build out their practice footprint, with the recent addition of their practice in Waldwick, which will allow them to provide services in Northern New Jersey.

“It has been an absolute pleasure working with TD Bank and its very capable team,” said Dan DiCesare, partner, Endeavor Dentistry. “From the onset of our business formation, Senior Healthcare Specialist Peter Miros and Commercial Lending Relationship Manager Justin Cummings have been true partners in our efforts to create a new model of multi-location comprehensive dentistry. Their financial analysis of each potential acquisition has been essential to our success and rapid growth and their advice and counsel has always been only a phone call or email away.”

TD previously financed the dental group’s purchase of Livingston Smiles in Livingston; Ironbound Dental Center in Newark; Marine Dental in Staten Island, New York; and Shore Dental in Manahawkin.

The team also closed on a term loan for Livingston Smiles to fund an office expansion and renovation project and provided Endeavor Dentistry with operating deposit accounts for all practice locations, personal checking and savings accounts, residential mortgages and investment accounts with TD Wealth.