Each dental facility is expected to cost approximately $3 million. Additionally, there are plans to develop two tenant buildings with Ageless Dental's sister company Neuragenex Treatment Centers, an Arizona-based nonopioid pain management provider, where feasible.
In addition to the capital commitment for the 750 clinics, the deal gives Ageless Dental, which is headquartered in Massachusetts, an option for an additional 250 units valued at $750 million.
Currently, the Nashville, TN-based property developer has 14 units under contract for the development of future Ageless Dental sites, with plans to have the first 40 units under construction or opened by the end of 2023. American Development Partners hopes to have more than 60 units scheduled for 2024. Ageless Dental offers general dentistry, cosmetic dental, and oral surgery.
In March 2022, Neuragenex signed a $2.6 billion deal with American Development Partners and ASC Medical Group to build 750 more clinics in the U.S. within five years. Currently, Neuragenex has about 13 locations in the U.S., including Utah and Georgia.
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