Veteran healthcare executive brings more than 25 years of leadership experience to distinctive doctor-owned and doctor-governed platform.
September 2024 – Phase 1 Equity, a doctor-owned, doctor-led and doctor-governed orthodontic and pediatric dentistry partnership focused on preparing its doctor shareholders for a future platform sale, is pleased to announce the appointment of Mike Rice as Chief Executive Officer.
Rice brings more than 25 years of experience in various healthcare leadership roles centered around working directly with doctors. He will oversee day-to-day operations and drive the strategic expansion of Phase 1 Equity across top-tier orthodontic and pediatric dentistry practices.
His extensive career includes leading healthcare companies in the areas of growth and operations. He has been part of several start-up and high growth platforms that included platform development, multi-site M&A strategies, operational integrations and efficiencies across various healthcare sectors, including dental practices, surgical hospitals and centers, and physical therapy clinics, where he played a critical role in driving growth, profitability, and a successful exit.
Rice has a proven track record of leading and growing healthcare companies that deliver significant returns on investment. His previous executive roles include Chief Development Officer at Physical Rehabilitation Network, President & COO at DecisionOne Dental and Vice President of Development and Operations at National Surgical Healthcare.
Phase 1 Equity has changed the model on the traditional dental support organization (DSO) model by creating their proprietary doctor-owned, doctor-led, and doctor-governed platform. Unlike most DSOs, which acquire practices using a traditional acquisition model, doctors join as owners in Phase 1’s unique Doctor Equity™ model without selling ownership in their practice. The model focuses on preparing member practices for a future private equity sale, where the doctors-owners are investors in the platform and receive the private equity-style return on investment.
Phase 1 Equity ensures that doctors remain at the helm of clinical and business decision-making, with a unique doctor-majority board of directors and doctors chairing all Management Committees. This governance structure guarantees that doctors are not only invested owners but also key decision-makers within the company.
“Phase 1 Equity has quickly emerged as a leading platform for orthodontists and pediatric dentists, and I couldn’t be happier to be joining them at this moment in their growth trajectory,” said Rice. “Their unique approach to doctor equity and governance is truly unique and I am excited to help lead such an amazing platform. Under the guidance of its doctor-majority board, Phase 1 Equity optimizes the performance of individual practices within its network. Its leadership team has decades of experience in healthcare operations and private equity, ensuring the highest standards of care while maximizing operational efficiency.
“Mike’s vast experience in healthcare operations and growth makes him the ideal leader to shepherd Phase 1 Equity into our next phase of growth, and we are excited to have him on board,” said Brian Hamilton, Board Member at Phase 1 Equity and Managing Director at DuneGlass Capital. “Mike truly understands the two-fold mission behind our innovative equity and governance models, and our commitment to helping our doctor-shareholders increase value in their practices and across the platform.”
About Phase 1 Equity
Phase 1 Equity is a doctor-owned, doctor-led, and doctor-governed partnership focused on pediatric dentistry and orthodontics. Phase 1 Equity exists to provide an alternative to the traditional DSO model, allowing doctors to maintain control over their practices while accessing the economic benefits typically reserved for private equity investors.
Founded in partnership with DuneGlass Capital, Phase 1 Equity’s network includes a diverse range of practices with a shared commitment to clinical excellence and operational efficiency. For more information, visit phase1equity.com or email info@phase1equity.com.
About DuneGlass Capital
DuneGlass Capital is a healthcare services-focused independent sponsor founded in 2018 to help healthcare businesses realize their full potential. With expertise in multi-unit operations, private equity deal structuring, and healthcare business strategy, the founders of DuneGlass Capital have created a repeatable process for value creation so that doctors and entrepreneurs across medical and dental specialties can turn private equity into Doctor Equity™.
Having grown up in families steeped in medicine and dentistry, DuneGlass Capital executives understand the difficulties of private practice and how important it is to mentor their clinical shareholders about private equity to maximize the intrinsic value of their practices. Email partner@duneglasscapital.com or visit duneglasscapital.com to learn more.
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