What does it take to build and run a billion-dollar orthodontic empire? Jay Hedrick - CEO of Smile Doctors, knows the answer firsthand.
I had the honor of having a conversation with Jay, an experienced executive with a wealth of experience in private equity-backed companies. He sheds light on what it's like running a multi-billion-dollar orthodontic organization and the day in the life of a CEO.
Among many other interesting insights, Jay dispels the myth that corporate orthodontics is focused solely on profits. Smile Doctors prioritizes creating value for patients and doctors alike to ensure a win-win scenario for all stakeholders.
This episode provides a behind-the-scenes peek into private equity in our profession, equity opportunities, and what drives a successful OSO.
Key Takeaways
Introduction (00:00)
Jay Hedrick's background and career journey (00:52)
Day-to-Day Life of a CEO (12:13)
Private Equity and its Role in Smile Doctors (14:44)
Equity and value creation in Smile Doctors (20:53)
Joint venture model and its benefits (26:36)
Bolt-On and De Novo strategies (30:13)
Cultural alignment and patient care in OSO/DSOs (32:51)
Advice for orthodontists joining OSOs or DSOs (35:21)
Additional Resources
- Smile Doctors: https://smiledoctors.com/
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- Register for the OrthoPreneurs Summit 2025: http://opsummit2025.com/
- For more information, visit: https://orthopreneurs.com/
- Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneurs
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