How a Dental Practice Sold at 11x EBITDA by Redoing Its Payer Mix

Today Lucas and Luna break down a specific case: a single-location dental practice in suburban Chicago that sold in Q1 2026 at 11x EBITDA, a full two to three turns above the median multiple for dental practices. The seller was 59, looking to exit in 18 months, but the practice was over-reliant on Medicaid and had an outdated fee schedule. Over twelve months they renegotiated with insurers, shifted the patient mix toward commercial PPO plans, added a membership plan, and documented the clinical workflow so the buyer—a DSO—could plug in a new dentist immediately. The story shows why a buyer will pay a premium for a business that has already de-risked its revenue concentration, not just grown its top line. Lucas and Luna discuss the specific changes, the cost of making them, and how the seller walked away with $1.3 million more than the initial broker estimate. #DentalPracticeSale #EBITDAMultiple #PayerMix #HealthcareM&A #DSO #BusinessBroker #BusinessExit #PracticeValuation #RevenueDiversification #PrivateEquity #SmallBusiness #MergersAndAcquisitions #SellerFinance #SuccessionPlanning #Business #FexingoBusiness #BusinessPodcast #TheBuyerAndSellerPodcast Keep every episode free: buymeacoffee.com/fexingo