# Who buys dental practices: a DSO or a private dentist? More than 135 DSOs and private equity groups made up the buyer universe in 2026, and at least 175 practice locations were reported sold in the first half, according to TUSK Practice Sales. The other main buyers are individual dentists, such as an associate or a nearby owner, whose offers are structured differently. By DDSIntel Editorial. Source: DDSIntel, https://ddsintel.com/dso/dso-or-private-buyer. Published 2026-10-26; data as of 2026-10-25. ## Key numbers - **135** or more DSOs and private equity groups made up the 2026 buyer universe (TUSK Practice Sales, Q3 2026 dental market report, 2026; https://www.prnewswire.com/news-releases/tusk-practice-sales-assesses-the-state-of-the-dental-industry-in-its-q3-2026-dental-market-report-302823046.html) - **175** or more practice locations were reported sold in the first half of 2026 (TUSK Practice Sales, Q3 2026 dental market report, H1 2026; https://www.prnewswire.com/news-releases/tusk-practice-sales-assesses-the-state-of-the-dental-industry-in-its-q3-2026-dental-market-report-302823046.html) - **60%** % is the low end of cash at close in DSO offers TUSK described, up to 85% or more (TUSK Practice Sales, Q3 2026 dental market report, 2026; https://www.prnewswire.com/news-releases/tusk-practice-sales-assesses-the-state-of-the-dental-industry-in-its-q3-2026-dental-market-report-302823046.html) - **68.7** was the average U.S. dentist retirement age in years (ADA Health Policy Institute, 2024; https://www.ada.org/resources/research/health-policy-institute/dentist-workforce) ## Who buys dental practices? Two groups: DSOs and private equity-backed platforms, and individual dentists. TUSK Practice Sales counted a buyer universe of more than 135 DSOs and private equity groups in 2026, and reported at least 175 practice locations sold to DSOs, private equity groups and other acquirers in the first half. See the [consolidation overview](https://ddsintel.com/dso). ## How do DSO offers differ from private-dentist offers? TUSK described DSO offers paying 60% to 85% or more of total consideration as cash at close, with the remainder structured in other ways, which can include rollover equity. Individual buyers typically fund a purchase with their own financing. Terms, not the headline price, decide what a seller receives, so compare after-tax outcomes with a CPA. ## What multiples do practices sell for? TUSK cited valuations of 5x to 9x or more EBITDA today, which it expects to compress. Benesch reported large DSO multiples of 9x to 10x EBITDA in August 2026, down from a 13x to 16x peak in 2019 to 2021, and small practices returning to 5x to 6x. Multiples vary by size, location and terms. The platform-versus-practice gap drives much DSO buying, as explained in [private equity in dentistry](https://ddsintel.com/dso/private-equity-in-dentistry). ## How early should an owner decide which buyer to approach? Early enough to prepare for either path, since both buyers review financials and public records before an offer. The ADA Health Policy Institute puts the average U.S. dentist retirement age at 68.7 years, so planning often starts well before that. Counsel and a CPA should review any letter of intent. Public-record [dental transition signals](https://ddsintel.com/signals) are one input into when practices become sale-ready, and [when dentists retire](https://ddsintel.com/lifecycle/when-do-dentists-retire) covers the timing. Deal routes are laid out in [how DSOs acquire practices](https://ddsintel.com/dso/how-dsos-acquire-practices), and the retirement figures are on the [retirement statistics](https://ddsintel.com/data/dentist-retirement-statistics) page. ## Frequently asked questions ### Is it better to sell a dental practice to a DSO or a dentist? It depends on goals and terms. Compare cash at close, deferred or rolled amounts, the seller’s role afterward and after-tax value, with counsel and a CPA. ### How much cash do DSOs pay at closing? TUSK Practice Sales described 60% to 85% or more of total consideration as cash at close in DSO offers it saw in 2026. ### How many buyers are there for a dental practice? TUSK counted more than 135 DSOs and private equity groups in 2026, in addition to individual dentist buyers. ### Do DSO buyers name the practices they buy? Often only in announcements. DDSIntel reports acquired practices in aggregate and never names a single independent practice. ## Sources 1. TUSK Practice Sales. TUSK Practice Sales Assesses the State of the Dental Industry in Its Q3 2026 Dental Market Report (July 10, 2026). https://pr.timesenterprise.com/article/TUSK-Practice-Sales-Assesses-the-State-of-the-Dental-Industry-in-Its-Q3-2026-Dental-Market-Report/6a514c9516e7610b3c53e15d 2. Benesch, Friedlander, Coplan & Aronoff. Benesch dental/DSO monthly report, July/August 2026 (via Mondaq). https://www.mondaq.com/unitedstates/industry-updates-analysis/1829900/beneschs-dentaldso-intelligence-monthly-report-julyaugust-2026 3. ADA Health Policy Institute. The dentist workforce. https://www.ada.org/resources/research/health-policy-institute/dentist-workforce --- DDSIntel is a dental transition intelligence platform that detects pre-market dental practice transition signals for brokers, DSOs, lenders and the firms that serve them.