Ontario Teachers' to sell Heartland Dental stake to KKR

Ontario Teachers' Pension Plan has agreed to sell a majority interest in U.S. dental support organization Heartland Dental to KKR. No financial terms were disclosed for the deal, which will see Ontario Teachers' retain a "sizeable ownership". It is expected to close in the second quarter. Founded in 1997, Effingham, Illinois-based Heartland provides non-clinical administrative support services to U.S. dental offices representing a network of over 1,300 dentists. Ontario Teachers' acquired control of the business in 2012 in a deal reportedly valued at US$1.3 billion. Since then, the number of dental offices supported by Heartland more than doubled.

DealsCanadaNorth AmericaBriefs