Eric Giesecke on the Future of M&A in the Dental Sector

The Dental Economist Show with Guest Eric Giesecke

In this episode of The Dental Economist Show, host CRO Mike Huffaker of Planet DDS sits down with Eric Giesecke, the CEO of Planet DDS. Join them as they discuss growth strategies, the evolving landscape of dental business dynamics, and merger and acquisition (M&A) trends. 

Learn more about: 

  • Eric Giesecke’s career journey
  • The value of a vibrant company culture
  • Navigating the dental and tech industries
  • Growth strategies
  • The evolving landscape of workplace dynamics
  • M&A trends
  • The impact of AI in dentistry

About Our Guest

Eric Giesecke is the CEO of Planet DDS, a prominent provider of cloud-based dental software solutions; he has been leading the company since 2015. Before joining Planet DDS, he co-founded District Line Partners, a private investment fund, and led One Source Water, a bottleless water cooler firm.

Episode Highlights

In this episode, CEO Eric Giesecke of Planet DDS shares his insights on M&A and reflects on the balance between control and trust within an expanding organization. Here are some highlights from the show:

Scaling and gaining confidence through client success

A pivotal moment for Planet DDS was when their largest customer, Northeast Dental Management, was acquired by a much larger company, Dental Care Alliance (DCA). This acquisition posed a potential threat, as 15% of Planet DDS’s revenue came from Northeast, and DCA had its own software solution. However, through a rigorous sales process, Planet DDS was chosen by DCA as their preferred software provider.

This validation from a major industry player was a defining moment, confirming that Planet DDS’s product could scale and meet the demands of larger dental service organizations. It solidified their confidence in their software as a service (SaaS) offering and marked a significant milestone in their growth trajectory.

Fostering a culture of humility, collaboration, and passion

Giesecke described Planet DDS’s culture as one driven by humility, a desire to win the right way, and a strong sense of integrity. The team is competitive but avoids boasting, focusing on succeeding with honesty and high standards, particularly in sales. He emphasized the importance of building a culture where people genuinely like each other and are passionate about their work.

When employees don’t fit in or share the same excitement and drive, they often self-select out. He also noted that everyone is approachable and willing to help, creating a warm and welcoming environment. As the company has grown, Giesecke highlighted the challenge of maintaining this culture by ensuring that leadership hires continue to reflect these values, regularly checking in with employees to gauge their engagement and enthusiasm for the company’s mission.

Hybrid work and company culture

Giesecke highlights the importance of balancing remote and in-office work, particularly in a hybrid model. He argues that while fully remote employees can be highly productive, they miss out on critical cultural connectivity and spontaneous interactions that in-person work fosters.

These in-office experiences, such as casual chats and unplanned idea exchanges, contribute significantly to workplace innovation and a sense of belonging. Giesecke emphasizes that flexible work models should be designed to preserve these elements of human interaction, which are difficult to replicate through remote communication tools like Teams.

Future of the dental industry and market trends

Giesecke predicts that the dental industry will experience an uptick in M&As as interest rates drop, driven by private equity firms eager to grow. He expects a focus on cloud technology, with more companies moving toward centralized solutions for efficiency and scalability. Additionally, he foresees a rise in experimentation with new healthcare delivery models, such as those being explored by Pacific Dental Services. AI, too, is poised to become increasingly integrated into the dental field, eventually becoming a standard part of patient care as the technology matures and patients become accustomed to it.

About The Dental Economist Show

Don’t miss out on episodes with special guests to discuss top strategies to grow your dental business. Tune in to the The Dental Economist Show weekly to learn how to optimize your practice’s value and stay ahead in a rapidly evolving industry.