Investment to Foster Growth and Expansion of ClearChoice Dental Implant Centers to Meet Growing Demand for Same-Day Dental Implant Solutions
Denver, CO – October 6, 2011 – ClearChoice Holdings, LLC (“ClearChoice”), a market leading developer and manager of dental treatment centers providing consumers with same-day dental implant care, today announced a growth equity investment by Catterton Partners, the leading consumer-focused private equity firm. The investment will be used to enhance ClearChoice’s marketing strategies and accelerate its expansion plan to double the number of ClearChoice affiliated centers across the U.S. Terms of the transaction were not disclosed.
ClearChoice is a leader in practice management within the multi-billion dollar U.S. dental implant services market. The market is expected to continue to experience annual double digit growth rates. Compared to alternative solutions such as bridges and dentures, the treatment options provided by ClearChoice affiliated centers have become a preferred solution for individuals experiencing tooth loss or living with dentures, as it provides the patient with permanence, durability, and superior aesthetics.
ClearChoice affiliated centers focus on providing comprehensive dental implant treatment and care using a highly coordinated team approach combining top specialists in oral surgery, prosthodontics, and restorative dentistry, and an on-site dental implant lab staffed by experienced lab technicians. Comprehensive treatment at one location enables most patients to have their implants and new teeth placed all in the same day. As a dental practice management company, ClearChoice provides marketing, back-office and comprehensive administrative support for each of the Company’s affiliated centers. ClearChoice currently manages 31 doctor owned centers in 22 markets across the country.
Dr. Don Miloni and Stephen Boyd, co-founders of ClearChoice, will continue to hold a significant minority stake, serve on the ClearChoice Board and support the Company in consulting roles. Mr. Boyd and Dr. Miloni commented, “Our unique business model has made ClearChoice a leader in our industry, and we are very pleased to further that leadership position with Catterton. We are also delighted to announce and welcome Jason Lockwood as our new CEO. With his experience in successfully leading and growing private companies in the consumer industry, Jason is the right leader to position ClearChoice for long-term growth and success. Jason has been working closely with ClearChoice over the last several months which will allow for a smooth transition.”
“ClearChoice affiliated centers have changed the way dental implants are done, with a scalable, integrated direct-to-consumer model and unparalleled expertise in full-arch dental restoration. Through our affiliated network of world-class doctors, ClearChoice affiliated centers offer a unique, cost-effective same-day solution that is accessible to a wide range of patients,” said Mr. Lockwood. “With this new partnership with Catterton, ClearChoice is well positioned to accelerate our expansion program, which includes developing new doctor relationships and managing new dental implant centers to help meet the growing demand for same-day dental implants. Catterton has a well-established record of success in partnering with consumer companies to help them capitalize on growth opportunities, and we are confident that with their wealth of operational expertise and resources, we will significantly broaden our leading industry position.”
“As the leading pure-play multi-unit, multi-market dental implant management company in the U.S. with five times the number of centers under management as the next largest specialist, ClearChoice leads one of the fastest growing segments of the consumer dental industry,” said Nik Thukral, a Partner at Catterton Partners. “The dental implant category is large, fragmented and growing, benefitting from increased consumer awareness and attractive demographics, including an aging population and increase in adoption of implant technology by dental professionals as an alternative to bridges and dentures. We look forward to partnering with Jason, whom Catterton has known for fifteen years, and the entire ClearChoice team to accelerate the Company’s expansion strategy while continuing to drive growth through enhanced marketing strategies.”
About ClearChoice Holdings
Founded in 2005, ClearChoice is a market leader in providing high quality practice management services to a growing network of affiliated same-day dental implant centers. ClearChoice provides comprehensive administrative and non-clinical services to 31 dental implant centers – a network of doctor owned and operated dental treatment centers providing innovative and quality dental implant care – in 22 markets across the United States. ClearChoice centers offer comprehensive dental implant treatment services, and are leaders in full-mouth or whole-arch dental restorations utilizing the “All-on-Four” treatment concept. Each center’s main objective is to ensure a high quality of care by not only using specialists to deliver treatment but to have all the specialists at one location working together as an integrated team, with support from advanced imaging equipment and an on-site lab. For more information, please visit http://www.clearchoice.com.
About Catterton Partners
With more than $2.5 billion currently under management and a twenty-two year track record of success in building high growth companies, Catterton Partners is the leading consumer-focused private equity firm. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market consumer industry. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services.
Catterton’s other consumer health related investments include Pong Research Corporation, the global leader in science-based solutions that protect cell phone users from the potentially harmful effects of radiation exposure; Zarbee’s, a leading developer, marketer and distributor of safe, effective and natural pediatric OTC cough and cold remedies; Healthy Advice Networks, the leading out-of-home media company providing consumer health education and information in physician offices; Aquasana home water filtration systems, which are sold direct to consumers and through select dealers; and Insight Pharmaceuticals Holdings, Inc., a realized investment platform established to acquire and grow selective, well-known, over-the-counter pharmaceutical brands.
More information about Catterton Partners can be found at http://www.cpequity.com.
Andrea Rose / Bryan Darrow
Joele Frank, Wilkinson Brimmer Katcher