ImpactAlpha, May 30 – Bain Capital’s Double Impact fund has taken a majority stake in Texas-based dental services provider, Rodeo Dental. The company provides affordable dental services regardless of patients’ insurance status or income-level.
Rodeo Dental launched in 2009 to improve access to oral healthcare, particularly for children. Less than 50% of children insured under Medicaid or the Children’s Health Insurance Program receive regular dental care, Bain Capital’s Peter Spring tells ImpactAlpha. “Oral health wouldn’t be as much of a financial burden for [low-income] families, but most dentists aren’t compelled to accept Medicaid. Rodeo Dental looks to be an affordable option for those families.”
Since launching in 2009, Rodeo has launched 21 practices providing 250,000 annual appointments. Bain’s investment will support the company in expanding its practice locations in Texas and eventually in other states.
Spring explains that the reaching more patients is a key part of Bain Capital’s impact strategy for the investment. It will also track the number of first time dental patients, at what age children become first time patients (with an eye to helping kids start regular dental visits by the age of three) and patient satisfaction.
Bain Capital’s impact fund has made several other investments in the healthcare sector. They include long-term care provider HealthDrive and in-home care providers Arosa and LivHOME. Terms of the Rodeo acquisition were not disclosed.