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Cascadia Capital, an investment bank serving middle market clients globally, is pleased to have served as the exclusive financial advisor to DentalXChange, a leading EDI billing platform for dental practices, in its investment from Bregal Sagemount.
Cascadia worked to strategically position the company and accurately represent its many strengths to result in a favorable outcome for its founders. Our experience in healthcare billings, payments and systems interoperability played a crucial role in evaluating the company and the competitive marketplace to help DentalXChange reach this milestone investment from Sagemount.
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.
“It is no exaggeration to say that without the expert advice of the Cascadia team, in particular James Cartales and Novan Le, we would not have been able to consummate a transaction of this complexity and scope,” noted Scott Wellwood, President of DentalXchange. “Their patience, guidance and industry analysis allowed us to focus on our company strengths and to reinforce the value we represent in the marketplace. This also helped us cement a great working relationship with our investment partners at Sagemount. We are extremely pleased to have chosen Cascadia Capital as our advisors.”
“In this transaction, Cascadia was able to leverage our deep industry knowledge and experience in the RCM space, as well as our existing relationship with Sagemount to identify strategic fit and negotiate terms that exceeded management’s expectations in a short time frame,” noted Kevin Cable, Cascadia Managing Director. “We were able to secure an attractive value and build a great working relationship with Sagemount as a long-term investor in DentalXchange. We look forward to tracking their ongoing success.”
“It was a pleasure working with Scott and Kavian to help them navigate this transaction and to support the new partnership with the Bregal Sagemount team” added James Cartales, Cascadia Managing Director.
The deal represents another successful transaction for Cascadia in the healthcare billings, payments, and RCM sub-verticals. Past transactions include Tegria’s acquisition of Colburn Hill Group, Providence’s acquisitions of Acclara and MediRevv, and Clinicient’s Series C growth equity investment from Catalyst Investors.
For more information about this transaction, please contact the Cascadia Capital deal team:
Kevin Cable
Managing Director
kcable@cascadiacapital.com
(206) 696-7922
James Cartales
Managing Director
jcartales@cascadiacapital.com
(206) 436- 2526
Novan Le
Vice President
nle@cascadiacapital.com
(206) 436-2510