Boathouse Capital made a growth investment in OrthoFi Inc, a technology company to help orthodontists acquire, finance, and manage new patients. Financial terms were not disclosed. As part of the transaction, Andy Jang, vice president at Boathouse Capital will be joining the company’s board.
PRESS RELEASE
WAYNE, Pa., March 3, 2016 /PRNewswire/ — OrthoFi Inc. (“OrthoFi”), an innovative technology company that is changing the way orthodontists acquire, finance, and manage new patients, announced that it has received a growth investment from Boathouse Capital. This latest round will position OrthoFi to continue its rapid growth trajectory and accelerate the development of new products and services.
OrthoFi’s proven solutions help orthodontists increase patient starts, reduce costs, and increase overall patient satisfaction and loyalty. OrthoFi was designed by orthodontists to empower them to compete in today’s changing market by optimizing the patient case acceptance through innovative patent-pending technology. OrthoFi takes on the myriad of pain points facing the orthodontist today, including insurance eligibility checks, claim submissions, billing, and collections, and allows the orthodontists to focus on clinical care and service. High-quality treatments are made affordable and accessible to patients by empowering them to set an individually customized payment plan based upon their financial situation and budget.
“Quality-first orthodontists are finding it increasingly difficult to compete in today’s marketplace with low-cost generic providers while also grappling with the disruptive forces of higher technology costs and rapidly shortening treatment times,” said Dave Ternan, CEO and President of OrthoFi. “Our services give the specialist back their edge by helping them grow their business while allowing them to spend more time focusing on what is most important…caring for their patients.”
As part of the transaction, Andy Jang, Vice President at Boathouse Capital will be joining OrthoFi’s Board of Directors. “OrthoFi is an exceptional organic growth story where the Company has been entirely funded by orthodontists and its extremely loyal customer base,” said Andy Jang. “We look forward to supporting OrthoFi’s growth initiatives as it continues to bring new solutions and technologies to market.”
About Boathouse Capital:
Boathouse Capital is a Philadelphia-based investment firm that manages $350 million. The firm invests up to $25 million of mezzanine debt and equity into lower middle-market businesses across the United States. Visit www.boathousecapital.com
About OrthoFi:
OrthoFi is a breakthrough software and service solution designed to increase patient access to high-quality care by helping Orthodontist Practices to adopt more flexible financing. OrthoFi specializes in practice growth, insurance eligibility and processing, billing and collections, and analytics. By partnering with OrthoFi, practices spend less time on their back-off business processes and are able to focus on delivering the best patient care possible. To find out more about OrthoFi, visit OrthoFi.com
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