Ontario Teachers’ Pension Plan has reached a definitive agreement to acquire 100% of Spain’s Donte Group, operator of the Vitaldent, Smysecret, Moonz and MAEX dental chains, for more than €1 billion. The transaction values one of the country’s largest private health-care providers at one of the highest price tags seen in Spain’s muted 2025 mergers-and-acquisitions market. Donte Group runs 426 clinics and employs about 2,200 dentists who have treated more than nine million patients. Advent International, which bought the business in 2019 and expanded it from a single-brand operator to a multi-brand network, mandated JPMorgan to run the sale process four months ago. The Canadian pension fund plans to fold Donte into its C$6 billion (€3.75 billion) global health-care portfolio, which already includes stakes in Heartland Dental, PhyNet, Veonet and NVision. OTPP said the long-term capital will support Donte’s goal of surpassing 600 clinics and treating 1.3 million patients annually by 2030. The deal is expected to close in the fourth quarter, pending customary regulatory approvals.