InterDent Hires Lehman Bros. for Buyout Deal

InterDent Inc., the largest dental practice-management company in the U.S., said it hired Lehman Bros. Inc. to help it pursue various strategic options, including finding alternative financing.

The company said it will monitor the high-yield bond market in relation to the planned refinancing and buyout agreement with merchant bank Leonard Green & Partners. The transaction can be terminated if not completed by April 30.

InterDent said it hired Lehman Bros. to be prepared to find another partner should the agreement fail. InterDent executives, investors and Leonard Green & Partners had agreed in October to buy the company for $9.50 a share in cash.

The deal would be valued at $201.4 million on Thursday, based on 21.2 million outstanding shares as of March 15. InterDent shares closed up 16 cents at $5.13 on Nasdaq.