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Heartland Dental


Effingham, IL

Investment Date

July 2008

Exit Date

December 2012

Heartland Dental dentist office

Through the successful partnership between Heartland and the New Harbor team members, the company more than doubled in size, growing from nearly 200 offices to over 400 offices in a span of 4.5 years. As a result of this success, Heartland received significant interest from potential buyers, ultimately being acquired in a majority recapitalization transaction by Ontario Teachers’ Pension Plan (OTPP) in late 2012. Dr. Rick Workman, the Active Executive Chairman & Founder of Heartland, is the Chairman of New Harbor’s Executive Advisor Committee.

Investment Accomplishments:

  • Built a Board of Directors. Established strategic board of directors, including with three outside board members to provide business, organizational and industry insights.
  • Built management team. While Heartland had a strong team in place, New Harbor guided enhancements to the organization wherein several existing personnel were elevated into new roles and complemented by key strategic hires, such as a CFO and VP of Marketing.
  • Guided corporate development. Created a dedicated business development team to oversee the addition and integration of new offices through both affiliations and de novos.
  • Talent recruitment and retention. Established a program for recruiting and retaining top dentists, including financial and non-financial incentives (including a professional development / training & education program).
  • Supported gains in productivity. Invested in a centralized call center and sophisticated data systems.

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