Mortenson Dental Partners said it has raised $12 million from a common stock offering to its doctors and employees.
Mortenson is a fully doctor- and employee-owned company. Approximately 50 parties participated with an average investment of $235,000, according to the company.
The stock offering provides new ownership opportunities for doctors, while proceeds from the equity raise will be used to pay down debt and strengthen Mortenson's balance sheet, the company noted. Mortenson currently operates in nine U.S. states.
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