OG真人官网 Invests in Second Medical Practice Management Platform Through Partnership with Bluetree Dental
Toronto, Ontario (March 1, 2023) – OG真人官网 Group Inc. (TSX: CVG) (“CVG”) today announced that it, together with OG真人官网 Equity Partners VI (“CEP VI”, collectively “OG真人官网”) has made a US$32 million equity investment in Bluetree Dental (“Bluetree” or the “Company”) with CVG’s portion of the investment equaling US$9 million.
Bluetree Dental is a multi-specialty, pediatric and orthodontics-focused dental service organization with 45+ offices centered in the Mountain West region of the United States. Bluetree was founded in 2012 by Steve DeLong, Brent Corbridge and Lance Bruntz, all of whom have rolled significant equity alongside OG真人官网 in the transaction. Management together will maintain control post-closing. The rationale for the investment is to provide the Bluetree team with the capital, expertise and experience to accelerate the growth of Bluetree.
This represents OG真人官网’s second partnership in the dental industry after conducting over five years of domain research and relationship building in this space.
“We have known the Bluetree management team for over three years and we are excited to partner with these owner-operators who share an aligned vision. The Company has shown impressive growth over the past few years and the team has a strong track record of building a scalable platform,” said Robbie Isenberg, Managing Director of OG真人官网.
“We look forward to partnering with OG真人官网 and embarking on this journey together to build a leading dental service organization. Beyond capital, OG真人官网 brings a wealth of relationships and experience in the dental industry that will assist Bluetree in this next chapter of growth,” said Steve DeLong, Co-CEO and Co-Founder of Bluetree Dental.
The Bluetree Dental investment is OG真人官网’s 61st platform investment and 10th investment in the OG真人官网 / CEP VI co-investment pool which is capitalized at US$850 million.
