Bregal Sagemount has made an investment in DentalXChange, a provider of EDI technology for the dental industry. No financial terms were disclosed. Also, DentalXChange has named Paul Kaiser as CEO.
IRVINE, Calif.–(BUSINESS WIRE)–DentalXChange, the leader in EDI technology for the dental industry, has announced a strategic investment from Bregal Sagemount, a leading private equity firm that provides capital and strategic assistance to market-leading companies in high-growth sectors.
Together the firms are eyeing robust strategic growth led by a newly expanded C-suite with deep roots in the healthcare technology industry.
Paul Kaiser joins DentalXChange as the new Chief Executive Officer. Mr. Kaiser was previously the CEO of MedeAnalytics, a SaaS-based healthcare analytics platform for providers and payers. Before that, he was the President of TriZetto Provider Solutions, an RCM, EDI and payments platform for healthcare providers and payers.
Paul Bernard has been appointed new Chief Operating Officer. Mr. Bernard has over 13 years of healthcare IT experience and has spent the past 5 years with Smile Brands as their Chief Performance Officer. His experience scaling RCM, data analytics, and patient financing in the dental industry, as well as leading operations, finance and customer facing teams will help drive value and a continuously improved experience for DentalXChange’s customers and partners.
Kevin Doldan joins the leadership team as Chief Financial Officer. Mr. Doldan spent the past three years as the CFO of FastPay, a payments and lending platform for the media industry. Prior to that, he was the CFO of Orchard Platform, a SaaS company providing software, data, and analytics for specialty lenders. He brings with him a background in public accounting, investment banking, private equity, and will manage all aspects of finance and accounting for the company.
The new C-suite brings a proven track record of success and over 35 years of executive management experience in the healthcare technology field.
“DentalXChange has a long, proven history of industry innovation and quality customer service,” said Paul Kaiser, new CEO of DentalXChange. “The new leadership team’s goal is to accelerate innovation and expand platform capabilities. Dental payments should be frictionless for providers and payers. The opportunity to leverage contemporary technologies like artificial intelligence, machine learning, and robotic process automation into our expansive network of over 80,000 dentist offices and every dental payer in the country is enormous and will add tremendous value to providers, payers and consumers.”
Phil Yates, Partner at Bregal Sagemount said, “We would like to thank the DentalXChange founders for partnering with Sagemount to help take the company to the next level. We are confident that the entire leadership team including the new additions of Paul Kaiser, Paul Bernard and Kevin Doldan wake up every day focused on the customer experience and building the best place to work for our team members.”
Blair Greenberg, Partner at Bregal Sagemount said, “We are excited to partner with the team at DentalXChange to continue the impressive growth of the company by making investments in new products to serve the evolving technology needs of the dental community.”
“We welcome Bregal Sagemount’s strategic investment,” continued Mr. Kaiser. “We are excited about the future of DentalXChange and the incredible opportunities we will be able to offer our clients to help continue their success.”
Since 1989, DentalXChange has earned industry-wide acclaim and recognition for pioneering the web-based dental EDI solutions industry. Today, it has grown to support a current client base of over 80,000 dental healthcare offices. Headquartered in Irvine, CA, DentalXChange accounts for more than $90 billion in dental claims every year. Through its own clearinghouse and secure web portals, the company processes nearly 200 million EDI transactions, consisting of more than 60 million dental claims annually