Investment Boost for Riccobene Associates Family Dentistry
Comvest Private Equity's New Venture in Dental Services
Comvest Private Equity, a premier player in the middle-market private equity sector, has recently made headlines with its investment in Riccobene Associates Family Dentistry. This announcement is particularly exciting as Riccobene is recognized as a leading dental services organization (DSO). The investment marks a significant milestone for both Comvest and Riccobene as they join forces to enhance the delivery of dental care in the Southeast region.
The Growth of Riccobene Associates Family Dentistry
The Story Behind Riccobene
Established in 2000, Riccobene Associates has made a considerable impact on the dental services landscape across North Carolina, Virginia, and South Carolina. With a network of 62 clinics offering both general and specialty dental services, the organization prides itself on a patient-first philosophy and a deeply ingrained doctor-centric culture. Under the leadership of Dr. Michael Riccobene, the company has expanded significantly, supporting over 150 providers in its clinics.
Comvest's Role in Driving Expansion
According to Marshall Griffin, a Partner at Comvest, the DSO investment comes with a promise of growth and excellence. Comvest aims to assist Riccobene with strategic and operational resources to fuel the organization’s rapid expansion. This partnership exemplifies a commitment to elevating patient care through clinic expansions and enhancing operational processes.
The Impact of the Investment on Dental Services
The merger brings to light an exciting opportunity for advancing the dental services offered by Riccobene. With Comvest’s support, Riccobene is poised to not only maintain but accelerate its growth trajectory. The partnership emphasizes a shared vision of prioritizing patient care through investing in advanced technologies and robust systems that streamline clinic operations.
“Through this partnership, we aim to continue offering the highest quality of care while adapting to the evolving needs of our patients,” stated Dr. Riccobene. The commitment to maintaining high operational standards remains paramount as the organization expands its reach.
The Team Behind the Success
Expert Advisors in the Transition
The transaction saw the involvement of several key advisors to ensure a smooth transition. William Blair & Company aided Riccobene as its financial advisor during this significant change, while DC Advisory and Cantor Fitzgerald & Co. provided essential financial advisory services to Comvest. To navigate the legalities involved, McDermott Will & Emery served as legal counsel for Comvest, solidifying the investment's groundwork.
Riccobene’s Vision for the Future
Riccobene Associates is committed to maintaining its reputation as a leading DSO platform by providing high-quality dental care to its patient base. With plans to enhance its facilities and service offerings in the Southeast, the organization places great importance on individualized patient care and innovative clinical practices. The ongoing investment in both facilities and human resources is anticipated to yield notable benefits, further establishing Riccobene as a trusted name in dental care.
About Riccobene Associates Family Dentistry
Riccobene Associates Family Dentistry stands as a pillar in the community, offering comprehensive dental care across its numerous clinics. As it moves forward, the organization is eager to capitalize on the growth potential fueled by its alliance with Comvest. Their emphasis on individualized care and advanced facilities continues to make them a sought-after provider of dental services.
About Comvest Private Equity
Comvest Private Equity is part of Comvest Partners, a notable firm in the private equity and credit investment space, boasting $12.5 billion in assets under management. With a strong commitment to building sustainable growth, Comvest Private Equity focuses on control investments in middle-market companies. With years of experience and a network of industry relationships, Comvest’s investment professionals are dedicated to steering management teams toward strategic initiatives designed for operational improvement and driving growth.
Frequently Asked Questions
What is the significance of Comvest's investment in Riccobene?
The investment will help Riccobene expand its dental service offerings and enhance operational efficiencies, allowing growth across multiple states.
How many clinics does Riccobene Associates operate?
Riccobene operates a growing network of 62 multi-specialty clinics dedicated to patient care and innovative practices.
Who is leading Riccobene Associates after the investment?
Dr. Michael Riccobene will continue as the Chief Executive Officer, leading the organization alongside the existing management team.
What is Comvest's strategy in private equity?
Comvest focuses on investing in middle-market companies, providing them with strategic guidance and operational resources for lasting growth.
How does Riccobene ensure high-quality patient care?
Riccobene prioritizes a patient-centric approach and invests in advanced systems and technologies to enhance clinic operations and optimize patient care.
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