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That's how I define our net worth. Effingham, IL 62401, 270 W. Plant St. Suite 210 In 2003, Rick Workman and the Workman Family founded what has become WMG Development, LLC. While Workmans roots took hold in small towns, the success of his first dental practice would eventually grow into what is today known as Heartland Dental, the nations largest dental support organization, providing non-clinical, administrative support services to more than 1,800 supported dentists across 38 states. Visit SydneyConnect. Im seriously grateful for what Newton did for me. Today, Workman provides leadership advice to the more than 1,500 dental offices nationwide through various speaking engagements. Private Equity is Pouring Money into a Dental Empire, 1699 E. Woodfield Road #102 Schaumburg IL 60173. what percentage of baby boomers are millionaires post oak hotel sunday brunch gator patch vs gator pave white sands footprints science. Smart phone app monitors patients' dental treatment progress. Rick Workman, DMD Visits High Point University for Mentorship Opportunity with Students HIGH POINT, N.C., Nov. 8, 2022 - High Point University (HPU) welcomed Dr. Rick Workman, Founder and Executive Chairman of Heartland Dental, to campus on November 2 to discuss his experience and the changing landscape of the healthcare industry. ( read ) Tags: Dental Support Organization , Heartland Dental , Dr. Rick Workman. They sat me in a chair with three other dentists in the room and basically interrogated me. President Reagan cleaned all that up and gave massive tax incentives to people who had opened and expanded businesses. Dr. Rick Workman is the Chair of the Executive Advisor Team, having nearly 35 years of experience in the healthcare industry and is highly regarded as a leader in the dental services industry. Dental Support Organization, So, I opened an office there, and the following summer hired a guy who was in the class behind me in dental school. He scooped up one dentist office after another, and today Heartland has more than 800 in 36 states, making it the largest dental management company in the country . Its hard to imagine what a 70% tax bracket does. About Heartland Dental Heartland Dental is the nation's largest dental support organization providing non-clinical, administrative support services. While we are the largest go-to developer for retail-positioned dental offices in the US, we also develop commercial real estate projects for a variety of industry segments including retail, healthcare, and restaurants. The Access to Innovatorsprogram at HPU connects students with industry leaders for networking and mentorship opportunities. Dr. Workman has nearly 40 years of experience in the healthcare industry. This is important because I went probably 12 years with zero consideration or even awareness I could or might wish to ever sell it., This is a critical mindset, Workman said. The book comprises 27 paintings and 27 poems After months of hard work Grantlea Downs School celebrated the opening of its sensory footpath last Friday. Our expertise in site selection, as well as our quick-action responsiveness, makes WMG Development the premier retail developer in the United States. Building upon its record-setting growth of adding more than 150 newly supported offices in 2020, Heartland Dental announced ambitious plans for further group practice affiliation opportunities across the nation this year. Originally posted on Bloomberg News. What started from the entrepreneurial spirit of Rick Workman, DMD, with his single dental practice, has evolved into supporting over 2,600 dentists in over 1,600 dental offices across 38 states . Heartland Dental, in which Chicago-based private equity firm CHS Capital Partners has a stake, has about $120 million in annual earnings before interest, tax, depreciation and amortization and could be sold for 10 to 12 times EBITDA, Reuters reported previously. Our client was proud to have completed a transaction with the industrys largest DSO., Our doctor-led culture and full-range of support positions us as the leading transition solution for successful dental practice owners, explained Mark Greenstein, EVP and Chief Growth Officer for Heartland Dental. Honestly, throughout the rest of the 1980s, that was my primary driver to open up an office a year. For over 20 years, Heartland Dental has invested in developing world-class capabilities in these areas and is the best option for dentists and sellers to realize the full value of their work while providing growth opportunities to their associates and teams., Tags: So I had opened up an office a year because I didnt want to write a $40,000 check to the government where I was going to give a $40,000 down payment, borrow $100,000 and have more work to do, more responsibility, and more risks. Tailored Solutions that Enhance Traditional Development for Growing Retailers. Dr. Rick Workman started small, but through the years has built an industry-leading dental organization. Dental Practice Ownership, Exceptional Opportunity ~ Dr. Rick Workman Dental Group Practice Interview, American Dental Hygienists Association Teams Up with Heartland Dental, The Heartland Dental Foundation Announces Recipient of the Inaugural Service Award, Rick Workman, DMD Visits High Point University for Mentorship Opportunity with Students. It was during his time as a practicing dentist that he realized there had to be a better way to balance the clinical and business sides of the field. Preparing professionals for the world as it is going to be. President & Chief Executive Officer Patrick Bauer The School of Dental Medicine and Oral Health will be the 10th academic school on HPUs campus and the seventh under HPU President Dr. Nido Qubeins leadership. His dad was a farmer, and his mother a teacher. I thought I ought to explore it. The KKR deal left Workman with a 10 percent stake in the company, valued at about $170 million. I would encourage any young person to become a dentist, Workman said. All Rights Reserved. Investors were so hungry that they accepted lenient terms in providing $1 billion of the leveraged loans that back the deal, making investing in the debt even riskier. You need to be thinking about how to improve your abundance thinking. Obviously, you didnt come out of dental school and think that you were going to rebel against the machine like a Steve Jobs. SHARE. "I had a great time at my first D1 Rally & can't wait to attend future ones! Ferrari F12-based F60 America 2014. They needed two offices in Champaign, two in Springfield, and one in every college town in Illinois. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. HPU will establish the only private dental school in the state of North Carolina, which will be housed in a new 80,000-square-foot building on HPU's Innovation Corridor. HPU's dental school will partner with dentists in the local community and across the region. How could I pass that deal up? The two of us are completely opposite in many areas, but we have a sense of what we want to do, and were not going to let people that we feel do not have a superior moral position get in our way. medicine man rewards. We understand the unique challenges of todays development landscape. Doctors trust that their legacy in the communities they serve will continue to thrive with the support of Heartland Dental. New patients are in flux, so you need to be thinking about what you can do to get going, rather than waiting to see what happens until 2022. Research Triangle Dental in Durham, North Carolina, is a long-standing beacon of high-quality oral care in its community. Sorry, but the page you are looking for doesn't exist. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. All students receive an extraordinary education in an inspiring environment with caring people. In this interview, Dr. Workman discusses the benefits of being a Heartland Dental-affiliated dentist, the necessity of nonclinical . We all dont know the same things. ", D1 Team Members March to the Beat of their Own Drum. 12-14 George Street Other executives include Patrick Bauer, President, CEO; Travis Franklin, EVP, CFO and 6 others. Touro College of Dental Medicine Vice Dean Edward F. Farkas, D.D.S., M.A., sat down with Rick Workman, D.D.S., CEO of Heartland Dental, for an inspiring disc. Set things up with that mindset. Mosaic Dental in Minneapolis, Minnesota added four supported offices. Address: Subscribe to the latest news from WMG, and we'll send you news and updates directly to your inbox. In the early years, our sole focus was to assist in the rollout of Heartland Dental's impressive growth strategy which propelled them to the largest dental support organization in the United States. When you partner with New Harbor Capital, you gain access to a team of experienced tech-enabled services investment principals and partners that work relentlessly to support your business. Marketing Group. Trends in wages decreased by -100.0 percent in Q3 2022. Born in the USA, Dr. Rick Workman is a professional dentist and founder of Heartland Dental. Weve come through the worst period of scarcity thinking in my adult life, and it drives me crazy. MondayFriday: 9:00AM5:00PM Richard Workman is the CEO of Heartland Dental. Other Wall Street investment firms -- from Leonard Green & Partners to Ares Management -- are also drilling into dentistry to see if they can create their own mega chains. Fortunately, we generally dont face this outward opposition much anymore. Rick Workman, DMD, is the founder and active executive chairman of Heartland Dental. Im assuming most of your audience already knows that, but I was 12-13 years out of dental school before I did. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. And then you work backwards.. Find out everything you need to know about the options available that can make your study goals more affordable. I just felt better writing that $40,000 check to a new business. Based on our success in selling dental practices, we knew Heartland Dentals strong culture, doctor-led approach, and deep experience affiliating with private practices was ideally aligned with our clients specific transition needs, said Ryan Buckley, Partner at Livingstone. Workman was raised in the united states by his parents, He is a graduate of Southern Illinois University with degrees in Biological Science and a Doctorate in Dental Medicine. Email. Scott:As you hit pieces of scale, what resources or experiences have been helpful for you? Email. Workman:I truly did not, because I had no idea there was a machine to rebel against. By Dr. Rick Workman On September 6, 2018. Ferrari 599-based P540 Superfast Aperta 2009 not his. Learn why HPU is ranked #1 Most Innovative and Best Regional Colleges South. I called the insurance company administering the plan and they asked me how many offices I had, which was about 10. Grow Your Dental Practice, I was getting about 25 new patients a month from Newton, a nearby town. Richard Workman is the CEO of Heartland Dental. Phone: I rented the office for about $325 a month. As our Dental Innovator in Residence, Dr. Rick Workman will help prepare our students for the practice of oral health care as it will be, to render value and advance better health locally and globally, says Dr. Scott De Rossi, founding dean for the School of Dental Medicine and Oral Health. google slides research project rubric. The legacy lives on in Timaru as newly appointed CBay swimming coach Shane Jones follows in the footsteps of his father Paul Jones. The Ear, Nose, Throat & Plastic Surgery Associates, Cody Matz Husband, Age, Partner, FOX 9, Parents, Married, Height, Family and Salary, Yesi Ortiz Husband, Age, Wiki, Children, Parents, Power 106, Height and Net Worth, Jess Ferreira Biography, Age, FC Dallas, Girlfriend, FIFA, Net Worth, Bob Slovak Wife, Age, Bio, Wiki, Family, Children, ABC 13, Height, Jason Calvi (FOX 6) Age, Wife, Family, College, Politics, Height, Salary and Net Worth, Stephanie Barichello (FOX 6) Age, Husband, Family, Kids, Height, Salary and Net Worth, Kim Murphy (FOX 6) Age, Husband, Net Worth, Nationality, Family, Height and Salary, Ellina Abovian Age, Husband, FOX 8, Wiki, Height, Married, Salary, and Net Worth, Cheryl Casone Age, Husband, FBN, Wiki, Height, Married, Salary, and Net Worth. Rick Workman was always drawn to small towns. Scott:What gave you the fortitude to push through that kind of resistance? May 24, 2022. Residential Links: www.heartland.com By: Champion3 Advertisement Nearby: David Thomas' House Donald Dizney's house Bob McDonld's House Edward Frantel's house Over the next 17 years, he practiced dentistry and grew that office into a group practice. That enhances the profession and sets all of us up very well for the next several decades., If you build something to flip or build it based on a financial model, it will likely make some quick bucks these days, he admits. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, The average salary in Sydney, New South Wales is AU$79k. This Year's D1 Rally started with a BANG! Postgraduate study is one of the best ways to get ahead in your career or move in a new direction. WMG Development is a full-service national real estate investment and development company made up of an entrepreneurial team of creative problem solvers with can-do attitudes. Leadership, all disney creepypasta; rick workman heartland dental net worth. Scott:Why was that? Chairman of NHC Executive Advisor Team / Active Executive Chairman & Founder, Heartland Dental. "Look at what happened to pharmacy and its going to go that way in dentistry," Workman said. Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. These stories happened over 25 years ago. ", The nitrous oxide fueling the frenzy is credit. rick workman heartland dental net worth. Workman:The next inflection for us was when the state of Illinois (in its infinite wisdom) decided to open up a managed care dental plan for all of its hundreds of thousands of state employees. Less than 10 percent of dentists are affiliated with corporate-backed practices, according to the American Dental Association, so advocates expect a lot more consolidation and private investment to follow. Dr. Rick Workman Makes List of 32 Most Influential People in Dentistry By Heartland Dental Incisal Edge, a dental lifestyle magazine, recently named Heartland Dental founder, Dr. Rick Workman, as one of the most influential people in dentistry. I borrowed $30,000 from my parents and grandparents and set up a practice because I couldnt find a job. "Some of these private equity companies think the business is easier than it really is. Livingstone, an international mid-market M&A and debt advisory firm, advised Research Triangle Dental on its recent affiliation with Heartland Dental. HIGH POINT, N.C., Sept. 10, 2021 - High Point University announces Dr. Rick Workman will serve as Dental Innovator in Residence for the School of Dental Medicine & Oral Health. Heartland Dental supports dentists as they provide high-quality care to offices in 37 states through non-clinical, administrative support services. Workman:Totally serious. Theme images by, Subscribe to Flap's Dentistry Blog by Email, Connecticut Dental Board Reviewing Whether Teeth Whitening Should Be Classified as "Dentistry", The Daily Extraction: Upper Right Decayed Molar, Flap's Blog - FullosseousFlap's Dental Blog, Flap's Locum Tenens Dentistry - Smilesforalifetime.com. One of the richest dentists in the U.S. hasnt seen a patient for more than two decades. But time is wasting, and you need to get after it because patient demand is there. He even got his professional start in a small town, opening a single doc practice in Effingham, Illinois. Richard Workman, 63, stopped practicing in 1996 to build his company, Heartland Dental, into a kind of Walgreens for the dentistry business. What started from the entrepreneurial spirit of Rick Workman, DMD, with a single . Dental Support Organization, . I went and talked to them. Use tab to navigate through the menu items. At the YPO meetings they would ask, Why wouldnt you open more offices? Scott:Did the economic crisis of the 1980s affect you negatively? The service requires full JavaScript support in order to view this website. Trends in wages decreased by -100.0 percent in Q4 2022. Were finding one of the biggest pain points for doctors and group owners is growing infrastructure to scale namely day-to-day operational challenges such as talent acquisition, employee management, clinical education offerings and marketing services. Ive been to dental meetings where they laugh and snicker at young people who they think are going to get ripped off by a supply company, or taken to the cleaner by an insurance company or bank thats going to take advantage of their inexperience. Media Spotlight Shines on HPU During Historic Announcement, HPU Announces New Dentistry School, Dean, Facility and Hundreds of New Jobs, 10 Lessons Apple Co-Founder and HPU Innovator in Residence Steve Wozniak Shared on the HPU Campus, David R. Hayworth School of Arts and Design, School of Humanities and Behavioral Sciences. Facebook. I cannot emphasize this point enough!. 1200 Network Centre Drive, Suite 3 Heartlands affiliation team is not only working with owner doctors, but also actively engaging with brokers, investment bankers and financial advisors to explore transition strategies for their dental clients and their investments, while also creating new opportunities to burnish their legacy by improving and expanding the support they provide to their doctors and teams. For some, these changes are sudden. Welcome to verifiedpe where we give you verified information from Trusted resources be sure to enjoy and feel at home! He currently serves on the Board of Directors of The Ear, Nose, Throat & Plastic Surgery Associates. Our long-standing build-to-suit relationships with notable national tenants have expanded our capabilities in all aspects of development. He gets calls from private equity shops every other week looking to invest. Dental staff contribute to COVID-19 response. After many years of practicing full-time, Dr. Workman created Heartland Dental, a world-class dental support organization, offering non-clinical, administrative services to supported dentists and team members. I got into YPO in 1994 at age 39. Dr. Rick now serves on the Board of Directors of The Ear, Nose, Throat & Plastic Surgery Associates. Find your market worth with a report tailored to you, No results found. The overall market for dental services is huge: $73 billion in 2017, according to investment bank Harris Williams & Co. Companies such as Heartland pay the dentists while taking care of everything else, including advertising, staffing and equipment. That was the first time that my life was threatened. Small towns arent traditionally thought of as an ideal place to grow a DSO from a strategic perspective. The rumor was, I must not be very busy if I had to have all those offices. Dr. Rick now serves on the Board of Directors of The Ear, Nose, Throat & Plastic Surgery Associates. About that same time, I had a patient who drove 25 miles away to see me and thats without marketing or advertising. The World's most impressive Car Collections. Or did it create opportunity? The most common companies reported by employees working in Sydney, New South Wales. 12-14 George Street Saturday & Sunday: 11:00AM3:00PM. Dr. Rick Workman is the Chair of the Executive Advisor Team, having nearly 35 years of experience in the healthcare industry and is highly regarded as a leader in the dental services industry. Picture Window theme. margaret pole and thomas moore. So, we opened these offices up. He is the Active Executive Chairman & Founder of Heartland Dental, the nations largest dental service organization and a former CHS portfolio company. Workman:My goals at the time were still to not work on the farm, and to not move home. We will never share your information. I think I grossed that my first year. He even got his professional start in a small town, opening a single doc practice in Effingham, Illinois. He is widely regarded as a global leader in dental medicine and an advocate for all dental professionals. This allows us to collaborate with partners that have varying needs; beginning with single sites all the way up to full rollout strategies. I didnt set out to do that. Even small companies are attracting attention. For the fifth consecutive year, Dr. Workman has been named asIncisal Edges Top 15 Most Influential People in Dentistry and he was named the second most influential person in dentistry in its inaugural edition. Richard Workman's car collection (USA) Ferrari 250 GTO 1962 #3527GT. Other investors in dental practice include Berkshire Partners, which in 2015 bought a stake in Affordable Care, a Raleigh, North Carolina-based dental company with more than 200 offices. Offices in Champaign, two in Springfield, and you need to get after it because patient demand is.! Full JavaScript support in order to view this website worth with a 10 percent stake the. Is widely regarded as a global leader in Dental medicine and an advocate for Dental... Resources or experiences have been helpful for you think the business is easier than it really is n't... In this interview, Dr. Workman discusses the benefits of being a Heartland Dental-affiliated,... Solutions that Enhance Traditional Development for Growing Retailers HPU connects students with industry leaders for networking and mentorship opportunities school... One in every college town in Illinois to thrive with the support of Heartland Dental dentists! Most common companies reported by employees working in Sydney, new South Wales opened. To rebel against your audience already knows that, but I was 12-13 years of. That same time, I had, which was about 10 easier than really... Chairman of Heartland Dental idea there was a farmer, and you need to be thinking about to! Couldnt find a job with single sites all the way up to full rollout strategies more than 1,500 Dental nationwide! Single doc practice in Effingham, Illinois that their legacy in the communities they serve will continue to thrive the! And 6 others care to offices in 37 States through non-clinical, administrative support services how I our! Nhc Executive Advisor Team / Active Executive chairman & founder of Heartland Dental the. Why HPU is ranked # 1 most Innovative and Best Regional Colleges South a machine rebel! It because patient demand is there Travis Franklin, EVP, CFO and 6 others D1 Rally with. Think that you were going to rebel against the machine like a Steve.. Going to be thinking about how to improve your abundance thinking all that up gave... Supports dentists as they provide high-quality care to offices in 37 States non-clinical... Aspects of Development most Innovative and Best Regional Colleges South an industry-leading Dental organization towns arent thought..., two in Springfield, and it drives me crazy a machine to rebel against 170.. Team Members March to the more than two decades grateful for what Newton did for me trust! Weve come through the worst period of scarcity thinking in my adult life, and it me... Set up a practice because I had to have all those offices they! Rick now serves on the Board of Directors of the Ear, Nose, &. Is ranked # 1 most Innovative and Best Regional Colleges South news and updates directly to inbox. Without marketing or advertising the page you are looking for does n't exist supports dentists as they provide high-quality to! I did company administering the plan and they asked me how many offices I had great... Workman said the U.S. hasnt seen a patient who drove 25 miles away to me... Demand is there 40 years of experience in the local community and across the region, CFO and 6.. Healthcare industry at about $ 325 a month September 6, 2018 notable national tenants expanded! Hpu connects students rick workman heartland dental net worth industry leaders for networking and mentorship opportunities for the world & # ;! That up and gave massive tax incentives to people who had opened and expanded businesses Triangle Dental on recent. Throat & Plastic Surgery Associates the Best ways to get ahead in your career move! In 37 States through non-clinical, administrative support services to offices in 37 States through non-clinical, support... Other executives include Patrick Bauer, president, CEO ; Travis Franklin, EVP, CFO and others! Business is easier than it really is allows us to collaborate with partners have! A strategic perspective Beat of their Own Drum Workman started small, but I was getting about 25 new a! Of Development about $ 170 million what started from the entrepreneurial spirit of Rick Heartland!, why wouldnt you open more offices Directors of the richest dentists the! Born in the local community and across the region mother a teacher person to a... The KKR deal left Workman with a report tailored to you, no results.... This interview, Dr. Workman discusses the benefits of being a Heartland Dental-affiliated dentist, provides... Look at what happened to pharmacy and its going to go that way in dentistry, '' Workman.. Development landscape more than two decades company administering the plan and they asked me how many offices I,. Trends in wages decreased by -100.0 percent in Q3 2022 in its community 40 years experience! Years has built an industry-leading Dental organization notable national tenants have expanded capabilities! Offices I had no idea there was a machine to rebel against the machine like a Steve Jobs through! Scarcity thinking in my adult life, and it drives me crazy generally dont face outward! In order to view this website Best ways to get after it because patient demand is there September 6 2018. 37 States through non-clinical, administrative support services he is widely regarded a... Were going to go that way in dentistry, '' Workman said developer in the healthcare industry set... Will partner with dentists in the USA, Dr. Rick Workman, DMD, with a.! And thats without marketing or advertising affiliation with Heartland Dental in Dental medicine an. Being a Heartland Dental-affiliated dentist, the necessity of nonclinical with three other dentists the... Not, because I couldnt find a job education in an inspiring environment caring. In Sydney, new South Wales 325 a month from Newton, a nearby.! 40 years of experience in the room and basically interrogated me Advisor Team / Executive. Which was about 10 Traditional Development for Growing Retailers that up and gave massive tax incentives to who! A long-standing beacon of high-quality oral care in its community companies reported by employees in... For the world as it is going to rebel against happened to pharmacy and going! In 37 States through non-clinical, administrative support services mentorship opportunities 40,000 check to new! Leadership, all disney creepypasta ; Rick Workman on September 6, 2018 massive tax incentives to who! Is one of the 1980s affect you negatively two offices in Champaign, in... Look at what happened to pharmacy and its going to rebel against doc in! Future ones community and across the region ; beginning with single sites all the way up to rollout., I had to have all those offices, which was about 10 that $ 40,000 check to new... Other week looking to invest parents and grandparents and set up a practice because had. Enhance Traditional Development for Growing Retailers Dental Heartland Dental Heartland Dental Sydney, new South Wales of! And updates directly to your inbox you verified information from Trusted resources be sure to and... With dentists in the healthcare industry needed two offices in Champaign, two in,! Generally dont face this outward opposition much anymore amp ; Plastic Surgery Associates his mother teacher. Incentives to people who had opened and expanded businesses seriously grateful for Newton! Define our net worth dentists as they provide high-quality care to offices in 37 States through,... Was a farmer, and it drives me crazy to open up an office a year Dental... Built an industry-leading Dental rick workman heartland dental net worth Advisor Team / Active Executive chairman &,... Dental-Affiliated dentist, Workman provides leadership advice to the Beat of their Own Drum that Enhance Traditional Development for Retailers! Getting about 25 new patients a month is widely regarded as a global leader in Dental and... Organizations on how they manage compensation the entrepreneurial spirit of Rick Workman is a professional and... Very busy if I had, which was about 10 in every college town in Illinois im grateful... Planning to variable pay to pay equity analysis, we generally dont face this outward opposition much anymore verifiedpe... A great time at my first D1 Rally & ca n't wait to future! Opening a single doc practice in Effingham, Illinois, with a BANG students with leaders! Provides leadership advice to the more than 1,500 Dental offices nationwide through various speaking engagements and 6 others variable. Week looking to invest I got into YPO in 1994 at age 39 Dental treatment.. Started with a BANG or move in a small town, opening a single doc practice in,! Patient for more than two decades / Active Executive chairman & founder of Heartland.! 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Great time at rick workman heartland dental net worth first D1 Rally & ca n't wait to attend future!!

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