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1. It's like **Optum (part of UnitedHealth Group)**, but specifically focused on providing comprehensive business support and management services to a large network of affiliated dental practices.

2. Think of it as a **Davita Kidney Care** model, but applied to dental practices: managing a large, growing network of dental clinics by centralizing all the operational and administrative support, allowing dentists to focus on patient care.

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• Comprehensive Dental Services: Park Dental Partners, through its affiliated dental practices, provides a wide range of general and specialty dental treatments to patients. These services are the primary source of the company's revenue.
  • General Dentistry: Routine dental care, including examinations, cleanings, fillings, and preventative treatments.
  • Oral Surgery: Surgical procedures related to the mouth, teeth, jaws, and facial structures.
  • Periodontics: Specializes in the prevention, diagnosis, and treatment of gum disease and other conditions affecting the supporting structures of the teeth.
  • Pediatric Dentistry: Dental care tailored specifically for infants, children, and adolescents.
  • Prosthodontics: Focuses on the restoration and replacement of missing teeth and other oral structures, often involving crowns, bridges, and dentures.
  • Endodontics: Deals with the diagnosis and treatment of diseases or injuries to the dental pulp, commonly known as root canal therapy.
  • Orthodontics: Specializes in correcting misaligned teeth and jaws to improve function and aesthetics.

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Park Dental Partners (PARK)

Park Dental Partners, as a dental resource organization, derives its revenues primarily from the dental services provided by its affiliated general and multi-specialty dental practices directly to patients. Therefore, the major customers of Park Dental Partners are individuals who receive dental care. These customers can be categorized as follows:

• Patients with private insurance plans.
• Patients with government insurance plans (e.g., Medicaid, Medicare Advantage plans).
• Patients who pay for their dental services directly, often on an out-of-pocket basis.

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Pete Swenson

Chairman and Chief Executive Officer

Pete Swenson serves as Chairman and Chief Executive Officer of Park Dental Partners, Inc. He has over two decades of leadership experience, during which he has overseen the growth of the organization from 98 to more than 200 doctors and 1,400 team members. Under his leadership, Park Dental Partners became a publicly traded company on NASDAQ in December 2025. Previously, Mr. Swenson was the Vice President of Market Development for American Dental Partners (ADPI), a dental practice management company, where he helped grow ADPI from a startup to over $300 million in revenues through its 1998 IPO. ADPI is now owned by Heartland Dental. He also serves as chair of the PDPI board and on the Park Dental Partners Foundation board.

Christopher Bernander

Chief Financial Officer

Christopher Bernander is the Chief Financial Officer for Park Dental Partners, Inc. In this role, he is responsible for managing the company's accounting, treasury, internal control, financial planning and analysis, and revenue cycle operations. Mr. Bernander joined the company in 2022, bringing experience from previous CFO and financial leadership roles in technology and professional services companies, including Calabrio, Digital River, and Renaissance Learning. He has observed a significant shift in the dental industry towards new ownership structures, where private equity firms and other investors can participate in the economic benefits and growth of dental businesses.

Jean Lind

Chief Administrative Officer

Jean Lind serves as Chief Administrative Officer for Park Dental Partners, Inc. She is responsible for managing resources related to quality assurance and compliance, patient experience, team relations, recruitment, marketing, and clinical mentor teams. A 44-year veteran of Park Dental Partners, Ms. Lind has held numerous leadership positions within the organization. She began her career as a dental hygienist and helped establish the Park Dental Partners Foundation in 2015, where she now serves as its board president.

Dr. Christopher E. Steele D.D.S.

Chief Clinical Officer, General Practices

Dr. Christopher E. Steele is the Chief Clinical Officer for General Practices at Park Dental Partners, Inc. He oversees clinical standards and practices, ensuring high-quality patient care across all affiliated general dental practices. Dr. Steele also leads continuing education and professional development initiatives for general dentists. He previously served as President of Park Dental and is appointed to the board of Park Dental Partners.

Dr. Alan Siems Law D.D.S., Ph.D.

Chief Clinical Officer of Specialty Practices & Director

Dr. Alan Siems Law serves as the Chief Clinical Officer of Specialty Practices and is a Director at Park Dental Partners, Inc. He previously held the position of President of The Dental Specialists and has been appointed to the board of Park Dental Partners.

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The key risks to Park Dental Partners' business include:

1. Dependence on Third-Party Payors and Patient Price Sensitivity: A significant majority of Park Dental Partners' revenue (approximately 91-93%) is derived from patients with private insurance or government-sponsored plans. Changes in reimbursement rates, coverage policies, or administrative burdens from these third-party payors could materially impact the company's financial performance. Additionally, dental care patients are described as price-sensitive, often paying a substantial portion of their expenses out-of-pocket. Economic downturns or increased out-of-pocket costs could lead to patients deferring or foregoing dental services, thereby reducing revenue.

2. Geographic Concentration: Park Dental Partners operates its network of affiliated dental practices exclusively throughout Minnesota and Wisconsin. This geographic concentration exposes the company to regional economic downturns, adverse changes in state-specific healthcare regulations, or other local market conditions that could disproportionately affect its operations and financial results.

3. Attraction and Retention of Dental Professionals: The company's business model relies on attracting and retaining qualified dentists, hygienists, dental assistants, and patient care coordinators for its affiliated practices. While Park Dental Partners believes its dentist-majority ownership model helps with attraction and retention, there is an inherent risk in the healthcare industry of shortages of skilled professionals or increased competition for talent, which could impact the capacity and service delivery of its affiliated practices and consequently affect the company's growth and profitability.

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Park Dental Partners expects several key drivers to contribute to its future revenue growth over the next 2-3 years:

• Organic expansion through opening de novo practices: The company plans to open new practice locations with its affiliated dentists in existing or new markets, which directly contributes to expanding its operational footprint and patient reach.
• Acquisition of existing practices: Park Dental Partners has a history of acquiring existing practices and expects this strategy to continue as a means of growth.
• Expansion of existing general and multi-specialty dental brands: The organization aims to expand its current general and multi-specialty dental brands, suggesting an increase in services or patient volume within its established network.
• Attracting and retaining dental professionals: The company believes its unique model, which provides significant input and enhanced stewardship for dentists, will assist in attracting and retaining dental professionals, serving as a catalyst for future growth by enabling more patients to be served and potentially broadening service offerings.

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Share Issuance

• Park Dental Partners completed its Initial Public Offering (IPO) on December 3, 2025, issuing 1,535,000 shares of its common stock at $13.00 per share.
• The gross proceeds from this IPO amounted to approximately $20 million.
• The company granted underwriters a 30-day option to purchase up to an additional 230,250 shares at the public offering price.

Inbound Investments

• Approximately $20 million was raised through the company's initial public offering in December 2025 from public shareholders.
• The company's model is structured to avoid funding by private equity firms.

Outbound Investments

• Since its IPO in December 2025, Park Dental Partners has acquired two general dentistry practices.
• A portion of the IPO proceeds is designated for future practice acquisitions.

Capital Expenditures

• The company plans to utilize IPO proceeds for capital expenditures.
• These capital expenditures are intended for expanding its affiliated practice footprint and operational infrastructure across the Upper Midwest.