.png){kind=logo}
Intro
Reimagining Dental Ownership
Health Professionals Alliance, Inc. offers a staged transition platform for independent dental practices focused on long‑term value.
Phased Investment. Strong ROI. Valuation Arbitrage at Scale.
The Problem
The Ownership Transition Window
PE aggregation turns doctors into employees.
Market
Market Opportunity
The U.S. dental market is made up of tens of thousands of privately owned practices across the country. Every year, a meaningful percentage of these practices transition ownership, creating a steady and reliable flow of opportunities.
Within a market of this size, HPA does not need sweeping dominance to achieve its objectives—capturing even a fraction of one percent of total market share is sufficient to reach our target lease portfolio. This is not a theoretical opportunity or a market waiting to be created; capital is already actively moving into this space today, and ownership transitions are happening in real time.
Model
The Phased Ownership Model
Minority Entry Creates Alignment. Majority Exit Creates Opportunity.
Phase 1
MVP program
- Immediate practice savings are identified
- One-on-one support from HPA
- Optimization strategies for workflow, efficiencies and profitability
- Proprietary technology and data platform, including artificial intelligence, for scalability.
- No purchase or investment occurs during this phase.
Phase 2
Initial investment
- HPA acquires intangible assets that are leased back to the practice for the purposes of regulatory compliance.
- Targeting return on deployed capital 17% to 23%
- Practice owner maintains majority ownership and operational control.
- Clinical and financial de-risking opportunity.
Phase 3
Increased investment
- Contractual first purchase option on remaining practice equity.
- Path to majority or full ownership
- Next generation doctor maintains clinical operations.
- Shared ownership with next generation owner.
- Practice benefits from continued HPA support systems.
Capital
The Capital Engine
Strong yield supports future growth.
Defaults on dental practice financing remain low relative to other healthcare and small-business segments, supporting capital structure stability.
iHow cash moves
Example — convertible note
Deploy $800,000 (40% of $2M practice)
- 20% capital return = $160,000 annually
- 10% to HPA convertible debt holder
- 10% retained by HPA
- Effective cost to practice ≈ 8% of revenue
Example — conventional bank lending
Deploy $800,000 (40% of $2M practice)
- 20% capital return = $160,000 annually
- 7% to institutional lender
- 13% retained by HPA
- Effective cost to practice ≈ 8% of revenue
Yield supports reporting infrastructure, governance oversight, expansion pipeline, and future ownership opportunities.
Portfolio
Portfolio Snapshot
Early execution, pipeline, and 36‑month model at a glance.
Early Execution
- 2 practices closed
- $1.8 million deployed capital
- ~$270K annual revenue to HPA
Current pipeline opportunities
- Number of doctors: 10
- Number of individual offices: 23
- Total Potential Clinical Revenue: $43.5 million
- Total Potential Investment (40%): $17.4 million
36‑Month Portfolio Model
| Dental revenue | Capital deployed | |
|---|---|---|
| End of year 1 | $20.7 million | $12.24 million |
| End of year 2 | $77.5 million | $38.16 million |
| End of year 3 | $200.6 million | $96.62 million |
Investment opportunity
Investment and Structure
- Acquire Health Professionals Alliance Inc. common stock at 50 cents per share
- Up to 10 million shares available
Example
$100,000
- Placement up to $10M
- 10% Annual Return, paid monthly
- 3-Year Term
- Converts @ $1.00/share on or before maturity
- Callable as needed
Example
$200,000
- Investor has option to convert note even if investment on the convertible note is not called.
Example
$300,000
Commitments are structured on a 1:2 basis—one-third equity, two-thirds convertible note (callable as needed for practice acquisitions). Example: $100,000 in equity implies $200,000 in convertible note commitment, for $300,000 total investment.
Pro Forma
HPA Holdings, Inc. — Consolidated Projected Summary
Period Ending December 31, 2025–2029. Key metrics, income statement, and valuation.
Consolidated projected summary financial results
| 2025* | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|
| Key metrics | |||||
| Total (cumulative) practices acquired | 2 | 17 | 53 | 124 | 238 |
| Total number of MVP members | 6 | 46 | 148 | 330 | 582 |
| Total capital placed (leases from practices) | $1.69M | $12.24M | $38.16M | $96.62M | $201.60M |
| Consolidated income statement | |||||
| Practice gross revenue | $2.2M | $20.7M | $77.5M | $200.6M | $420.9M |
| HPA total revenue | $1.34M | $2.13M | $7.88M | $20.0M | $40.6M |
| HPA EBITDA | ($0.78M) | ($0.67M) | $3.61M | $13.8M | $32.1M |
| HPA net income (loss) | ($0.89M) | ($1.69M) | ($0.47M) | $4.54M | $15.7M |
| HPA Valuation Metrics | |||||
| Total projected HPA valuation (12‑mo forward looking) | $62.04M | $232.49M | $601.72M | $1,262.76M | $2,288.32M |
| HPA projected per share valuation (3.0× Rev, 100% practice, fully diluted) | $0.63 | $2.14 | $4.85 | $9.15 | $16.58 |
* Actual 2025 performance as prepared by Management.
Practice gross revenue
HPA total revenue
HPA EBITDA
HPA projected per share valuation
3.0× Rev — 100% practice, fully diluted
Total projected HPA valuation (12‑mo forward looking)
Governance
Governance & Risk Mitigation
Risk mitigation and disciplined governance are built into our acquisition strategy, as it relates to practices in which we invest, to protect investor capital and strengthen long-term value. Each transaction is structured through negotiated operating agreements that clearly define control and economics, supported by formal information rights that ensure ongoing transparency.
We retain approval rights over major financial decisions to prevent excess leverage or strategic drift, while buy/sell provisions establish clear exit and liquidity pathways. Risk is further reduced through diversified exposure across multiple practices operating within dentistry's essential healthcare demand profile, supported by established refinance relationships that provide capital structure flexibility as conditions evolve.
Key pillars
Protecting capital and long-term value
Let's connect
Thank You
Ready to explore dental practice ownership?
Join us in reimagining independent practice.
This presentation may contain forward-looking information based on expectations as of the original date of the information. The information is subject to certain risks and uncertainties that could cause actual results to differ materially. This presentation is not an offer to sell securities or the solicitation of an offer to buy securities. The information in this presentation has been obtained by HPA from sources believed to be reliable but no representation or warranty is made by HPA as to its accuracy or completeness. This presentation is provided for general information purposes only.