A Message from HDC President
As many of you already know, this past December Heartland Dental Care partnered with a private equity firm, Teachers’ Private Capital (TPC), the investment division of Ontario Teachers’ Pension Plan (Teachers’).
Patrick C. Bauer
President and Chief Operations Officer at Heartland Dental Care
With $117.1 billion in net assets, Teachers’ is a leader in pension and investment management. This independent corporation invests the fund’s assets and administers the pensions of Ontario’s 180,000 active teachers and 120,000 retired teachers. The plan features one of Canada’s largest payrolls, with $4.7 billion in benefits paid to members in 2011.
Created 20 years ago and currently managing a global portfolio valued at $12 billion, TPC’s private equity division leads deals on both a sole and partnered basis. The overall goal of Teachers’ and the TPC division is to provide continual outstanding service and retirement security for their members, and to search the world for the best returns for their members with appropriate risk.
We’re very excited to be part of this partnership with Teachers’. Just as their goal is to provide the best service for their members, it’s HDC’s goal to support affiliated dentists as they provide outstanding patient care to their communities. With this partnership, we’ll be in an even better position to expand our support services to dentists across the country and find new, exciting growth opportunities. In addition, HDC employees continue to benefit from the Employee Stock Ownership Plan. In the aggregate, long-term HDC employees now have an ESOP account balance that's three to four times their 2012 salary! We're proud of the long-term security we've afforded our hard-working employees.
I’ve said this before, but it bears repeating: it’s an exciting time to be at Heartland Dental Care. With our new partnership with Teachers’, as well as all of our exciting goals for 2013, I can’t wait to see what we accomplish moving forward.