LOS ANGELES, California--1-800-DENTIST has announced completion of a financing transaction with Boston-based firms Cue Ball Capital and Bain Capital Ventures.
The investment partnership and process started in 2009 when Fred Joyal, one of the founders of
1-800-DENTIST, was discussing his business with fellow University of Rhode Island alumnus and former CEO of the Thomson Corporation, Richard Harrington, who is now a general partner in Cue Ball.
“We saw 1-800-DENTIST as completely aligned with Cue Ball’s investment strategy,” Harrington said. “A great brand, a strong team, and an attractive business model with tremendous growth potential.”
Added Joyal: “As the leader in providing marketing services for dentists, we see the opportunity to take our company to a whole new level, and our new investment partners will accelerate that process."
1-800-DENTIST is a nationwide dentist referral service, with a 24/7 live call center operating in Los Angeles. The company will celebrate its 25th year in business in 2011.
“We wanted to find investment partners with a high level of expertise and a growth philosophy similar to ours,” said Gregg Coccari, CEO of 1-800-DENTIST. “We have a unique culture here, and we found that both Bain and Cue Ball were a perfect fit.”
Cue Ball approaches investing with a committed capital pool coming from executives who participate in advising their portfolio companies while Bain Capital is an investment firm with a team of advisors and consultants.
Post-transaction, the company acquired Dental Senders, a patient marketing and digital communications product for dental practices.
“This product is completely complementary to our 1-800-DENTIST service,” said Coccari. “This will allow us to offer a complete suite of marketing services to dental practices.”
Joining 1-800-DENTIST as the new executive chairman is David Shaffer, an industry leader in information media and an investor member of Cue Ball’s collective.
“I think you’re going to see amazing things happen very quickly with this company,” said Shaffer. “It’s great to be part of it.”
For more information, visit 1800dentist.com.
To read more about 1-800-DENTIST, go to 1-800-DENTIST.
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