The pension fund manager has agreed to buy Donte Group from U.S. private equity firm Advent International. The Madrid-based dental service provider has over 426 clinics and 2,200 dentists in its network. (The Logic)

Talking point: The deal adds to Teachers’ growing health-care portfolio, a $6-billion pool of companies that includes ophthalmology and dermatology chains, and a network of dental administration businesses. The space has become a popular target for private equity firms looking to consolidate individual practices. When Advent bought Donte in 2019, it had 150 clinics under one brand. The PE firm has since poured about €75 million ($119 million) into the business to expand its network and improve its technology. In a press release, Teachers’ said the company has more room to grow, “including through organic expansion, new clinic openings and selective acquisitions.”