Justin Marti welcomes Dr. Anthony Stefanou, founder of Connect the Dents and a practicing dentist for 39 years, for a candid look at how dental practices are really valued, sold, and matched with buyers.

After two decades chairside, Dr. Stefanou moved into dental M&A, appraisals, and the psychology of the deal. Today, he runs a dental-specific valuation method and a one-at-a-time DSO matching program. In this discussion, he explains why the highest bid rarely produces the best outcome, how outdated “percentage of collections” formulas can shortchange a seller by hundreds of thousands of dollars, and why the same one-million-dollar practice can be valued at $750,000 by one method and $1.2 million by another.

The conversation covers when to get appraised (far earlier than most owners think), why a single well-matched DSO beats a drawn-out bidding war that ends in deal fatigue, and why protecting a practice’s legacy (its patients, its team, and the name on the door) can matter as much as the check at closing. For any practice owner weighing growth, exit timing, or life after the sale, it is a grounded, colleague-to-colleague roadmap.

What You’ll Learn in This Episode

• Why the right buyer (fit, alignment, and life after the deal) often matters more than the highest bid
• How outdated “percentage of collections” valuations can quietly cheat sellers and leave buyers overpaying
• The hidden $500,000 swing: why the same practice can be worth $750,000 or $1.2 million depending on how it’s valued
• Why one well-matched DSO beats a chaotic bidding war that ends in deal fatigue and broken trust
• When to get your practice appraised (hint: years before you plan to sell) and why checking every couple of years pinpoints your peak value
• How shifting market multiples make “my buddy got 12X” a dangerous benchmark

[00:00] Intro: Why fit beats price in dental M&A

[01:57] From 20 years chairside to dealmaking

[04:01] The consolidation wave reshaping dentistry

[06:19] More buyers, more options, more confusion

[07:17] Protecting the legacy of a practice built over decades

[09:26] The problem with outdated, embellished valuations

[13:20] The stand-alone appraisal with no strings attached

[15:40] Inside the one-at-a-time DSO matching program

[22:44] Why the wrong attorney can kill the right deal

[25:08] How to Valuate Dental Practices: the two-day workshop

[31:03] The truth about shifting multiples and “12X” claims

[33:59] When to get appraised and why quarterly tracking wins

Resources Mentioned

• Connect the Dents: connectthedents.com
• How to Valuate Dental Practices, two-day workshop hosted in New York City
• Dental-specific practice valuation methodology (fair market value and EBITDA based) referenced throughout
• One-at-a-time DSO matching program (Connect the Dents)

Connect with Dr. Anthony Stefanou

• Title: Founder & CEO, Connect the Dents (Dental M&A Advisor, Certified Business Intermediary)
• LinkedIn: linkedin.com/in/tonydmd
• Company: Connect the Dents: connectthedents.com
• Workshop: How to Valuate Dental Practices (two-day, in person)

Connect with Justin Marti

• LinkedIn: linkedin.com/in/justinmarti
• Email: justin@martilawgroup.com
• Website: martilawgroup.com