On December 18, 2020, Prairie Capital VI, LP partnered with Dr. Kelly Jastremski, Patrick Malloy, and the practice owner dentists (“Partner Dentists”) to consolidate 26 dental practices across the state of Indiana to create P1 Dental Partners (“P1”), a dental partnership organization (“DPO”). Headquartered in Indianapolis, IN, P1 consists of 23 general practices and 3 specialty practices with approximately 50 providers across the platform. 

The P1 concept was developed by Dr. Kelly Jastremski and Patrick Malloy in an effort to create a provider-led organization of elite, “like-minded” dentists with shared clinical and patient-focused mindsets. The P1 platform will cultivate an enhanced study club allowing the Partner Dentists to collaborate and implement best practices across the organization. By leveraging the established goodwill and reputations of each practice, P1 will implement growth plans and make key investments to maximize productivity and profitability across the platform, while maintaining the individual identity and character of the individual locations. 

The dental services industry is a large market that has been predictable and recession resilient. It is the largest retail healthcare market with a total addressable market of $140 billion. The industry is fragmented, with numerous small and medium-sized providers who are seeking to join a larger platform, especially in light of the challenges experienced due to the COVID-19 pandemic. Key trends driving growth include the increase of oral awareness, aging demographics, industry innovation and technology. 

Prairie will partner with the P1 team to accelerate growth through company-building investments in human capital, technology, infrastructure, supply chain and add-on acquisitions. 

For more information on P1, please contact: 

DJ Lipke at dlipke@prairie-capital.com
Sean McNally at smcnally@prairie-capital.com
PJ Jensen at pjensen@prairie-capital.com