DENVER, May 3, 2019 /PRNewswire/ -- OrthoFi, Inc., an innovative software and technology-enabled service platform in the Orthodontic specialty industry, announced today it has received a growth investment from Accel-KKR, a leading technology-focused private equity firm. The new partnership will provide capital and resources to make continued investments in technology and go-to-market initiatives to better serve existing customers and drive continued growth in the market.
OrthoFi is a technology-enabled service platform designed to leverage customer relationship management software and industry-leading revenue cycle management services to stimulate growth and streamline operations for orthodontic practices. Founded in 2013, OrthoFi is headquartered in Denver, CO.
"We've seen encouraging growth and compelling results for our customers over the last five years by delivering a true end-to-end platform that enables practices to start more patients and leverage our revenue cycle services and analytics to run their businesses more effectively. We are thrilled about the opportunity ahead, and we believe this partnership with Accel-KKR will help us accelerate our development to grow our market share and amplify our portfolio of offerings as we enter our next stage of growth," said Dave Ternan, CEO of OrthoFi.
"We were very early adopters of OrthoFi, and have been thrilled at the results we've seen. Not only have we doubled the size of our practice, but we've also enjoyed the service and partnership we've experienced. We couldn't imagine operating our growing business without it," added Dr. Doug Depew, world-renowned speaker and long-time OrthoFi user.
"OrthoFi has built an impressive brand, customer base, and a strong platform for enabling elective healthcare practice development," said Park Durrett, Managing Director at Accel-KKR. "We are excited to partner with OrthoFi and to support their vision as they continue to grow, evolve their solution and provide value to their customers," added Andrew Zbella, Vice President at Accel-KKR.
OrthoFi is an innovative, tech-enabled solution that helps Orthodontists start more patients and give them more time to provide great quality care. Our combination cutting-edge Customer Relationship Management and robust Revenue Cycle Management system helps practices grow by over 10% YOY and manages patient and insurance billing and collections with exceptional collection results that exceed industry standards. In less than 6 years, OrthoFi has partnered with over 550 practice locations throughout the US and has helped over 300,000 patients find quality, affordable Orthodontic care. OrthoFi is headquartered in Denver, Colorado.
Accel-KKR is a technology-focused investment firm with over $5 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.
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SOURCE OrthoFi; Accel-KKR