1-800-DENTIST partners with Cue Ball Capital, Bain Capital Ventures
Los Angeles, California – August 17, 2010 – 1-800-DENTIST® announced today that it recently completed a financing transaction with Boston-based firms Cue Ball Capital and Bain Capital Ventures. The investment partnership and process started earlier last year 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.
Los Angeles, California – August 17, 2010 – 1-800-DENTIST® announced today that it recently completed a financing transaction with Boston-based firms Cue Ball Capital and Bain Capital Ventures. The investment partnership and process started earlier last year 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 says. “A great brand, a strong team and an attractive business model with tremendous growth potential.”
“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,” Joyal said. 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 and is the most recognized brand name in dentistry.
“We wanted to find investment partners with a high level of expertise and a growth philosophy similar to ours,” says 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 has a unique approach to investing with their committed capital pool coming from seasoned executives who actively participate in advising their portfolio companies, while Bain Capital is one of the most respected investment firms in the country, with a powerful team of advisors and consultants.
Post-transaction, the company immediately acquired Dental Senders™, which is a patient marketing and digital communications product for dental practices. “This product is completely complementary to our 1-800-DENTIST® service,” says 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, a renowned 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,” says Shaffer. “It’s great to be part of it.”
