October 2, 2026
Should You Sell to a DSO? A Broker’s Honest Take

Travis sits down with David Haynes of the Menlo Group, a dental-specific M&A firm, to dig into one of the most polarizing topics in dentistry: is selling to a DSO actually a good idea?

What’s covered:

  • David’s winding path from accounting dropout to dental lender to DSO deal expert
  • Why practices collecting under $1.5–2M rarely make sense for a DSO sale, and why size changes everything
  • The real reasons doctors sell: burnout, staffing headaches, reimbursement struggles, or just wanting to de-risk their biggest asset
  • The single biggest argument for a DSO: eliminating “transition risk” if you’re mid-career and your wealth is tied up in one practice
  • Why EBITDA calculated by a DSO is nothing like your actual tax return numbers — and why that gap trips up so many sellers
  • The dangers of rollover equity, and why “free” future upside isn’t guaranteed
  • Red flags: too much debt, too little cash at close, culture mismatches, and multi-doc partnership complications
  • Why leases are a hidden minefield for doctors who own their real estate
  • The case for hiring a professional negotiator instead of going direct to a DSO solo — and yes, the mustache came up

A clear-eyed, no-hype breakdown for any practice owner wondering if a DSO offer is actually worth it. Tune in.

Contact David: david@menlotransitions.com

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