Dental M&A Rebounds: 175 Practices Sold in H1 2026 as Valuations Head Lower

Bypaulgruensfelder
ORAL HEALTH GROUP July 27, 2026
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AI-Generated Summary

Dental practice M&A activity rebounded in the first half of 2026, with at least 175 practice locations sold to DSOs, private equity groups, and other buyers, according to TUSK Practice Sales — a figure the firm says likely undercounts actual volume due to reporting lag. Current valuations range from 5x to more than 9x EBITDA, but TUSK expects multiples to compress toward 4x–6x as dentistry matures into a more consolidated industry, with DSOs still structuring 60% to 85%+ of deal consideration in cash at closing. Separately, ADA data show 16.1% of U.S. dentists were DSO-affiliated in 2024, while private-equity affiliation nearly doubled from 6.6% in 2015 to 12.8% in 2021.

Why It Matters

For practice owners weighing a sale and DSOs planning acquisitions, TUSK’s data signals a narrowing window at today’s multiples — deal structures are shifting toward more cash at closing even as long-term valuations trend down, making timing and deal terms a bigger strategic lever than in prior years.

dental M&A DSO acquisitions EBITDA multiples practice valuations dental consolidation private equity dentistry deal structure

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Frequently asked questions

How many dental practices were sold to DSOs and private equity in the first half of 2026?

At least 175 dental practice locations changed hands to DSOs, private equity groups, and other buyers in H1 2026, according to TUSK Practice Sales — and TUSK says the true number is likely higher because reporting typically lags completed deals.

What EBITDA multiples are dental practices selling for in 2026?

Current dental practice valuations commonly range from 5x to more than 9x EBITDA. TUSK expects that range to compress toward 4x–6x over the longer term as dentistry consolidates further, following the path of more mature industries.

What share of U.S. dentists are now affiliated with a DSO or private equity?

ADA data show 16.1% of U.S. dentists were DSO-affiliated in 2024. A separate ADA-affiliated study in Health Affairs found private-equity dentist affiliation nearly doubled from 6.6% in 2015 to 12.8% in 2021.

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