A couple weeks ago, we reported on a proposal from a company called Dentistry Family to buy out its former parent, Dentistry, of California, for a cool $7.4 billion.
That would leave the company with more than $5 billion in cash and shares of Dentistry Holdings, which owns a number of dental clinics across the country, including a dental hospital in Miami.
At the time, it was unclear whether the deal would be finalized or if Dentistry’s board would hold a public vote on it.
Now, the company’s board has confirmed that it will vote on the proposed transaction.
The proposal to acquire Dentistry was made in March of 2017, but the proposed acquisition has been sitting on the board for over two years.
In a statement released Monday, the board said it will consider the proposal if it meets the following criteria: It is a transaction that is not expected to result in the closing of the Company’s remaining operations.
It is expected to be completed within 60 days after the conclusion of the board’s vote.
Dentistry Family is a family practice that has been in business for over 30 years.
The dental practices in its portfolio include a major dental hospital, the University of Miami, the National University of Singapore, and the Miami-Dade County Dental Clinic.
It currently operates four dental clinics in the U.S.A., including two in Florida, as well as an outpatient facility in Miami-Fort Lauderdale.
“We’re excited to continue providing our patients with outstanding care and service,” said Dr. Brian Smith, CEO of Dentology Family.
“We’re thrilled to be a part of this community and to be part of the dental community in Miami.”
Dentology Family currently operates two clinics in Miami, one in Miami and one in West Palm Beach, and will continue to operate in West and East Palm Beach.
If you would like to read more about the dental clinic industry, you can read this story from Forbes.
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